SYSTEM AND METHOD FOR MODIFYING ATTRIBUTE DATA PERTAINING TO FINANCIAL ASSETS IN A DATA PROCESSING SYSTEM
First Claim
Patent Images
1. A method comprising:
- purchasing an executed mortgage loan in a secondary mortgage market as at least one of a mortgage purchaser, a mortgage investor, a mortgage guarantor, and a mortgage securitizer; and
maintaining attributes associated with the executed mortgage loan in a computer implemented data storage system, including generating a computer implemented record containing the attributes related to the executed mortgage loan;
receiving information representative of payments made in connection with the executed mortgage loan;
receiving a search request at a computer system access point based on the received information representative of payments to retrieve a computer implemented record from the computer-implemented data storage system that satisfies the search request, wherein the record contains the attributes related to the executed mortgage loan;
retrieving the record from the computer-implemented data storage system identified by the search request;
displaying at least one attribute associated with the retrieved record;
receiving a non-periodic attribute modification request to modify at least one attribute associated with the retrieved record, the attribute modification request being received from a computer system associated with an entity operating as a loan servicer of the executed mortgage loan, the modification request being made based on a discrepancy between attribute data stored in the retrieved record and attribute data maintained by the loan servicer;
validating the non-periodic attribute modification request by applying at least one computer implemented business rule to the non-periodic attribute modification request;
modifying the at least one attribute of the retrieved record in the computer-implemented data storage system based on the validation of the non-periodic attribute modification request; and
performing loan accounting operations for the mortgage loan based on the information representative of payments made in connection with the mortgage loan and the modification of the at least one attribute of the retrieved record in the computer implemented data storage system.
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Abstract
A processing system for modifying attributes of a plurality of loans is described. The processing system includes an attribute change processor for receiving and implementing a proposed change to an attribute of at least one of the plurality of loans and a loan pricing processor for generating a pricing value associated with the proposed change to the attribute of the at least one loan.
132 Citations
45 Claims
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1. A method comprising:
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purchasing an executed mortgage loan in a secondary mortgage market as at least one of a mortgage purchaser, a mortgage investor, a mortgage guarantor, and a mortgage securitizer; and
maintaining attributes associated with the executed mortgage loan in a computer implemented data storage system, including generating a computer implemented record containing the attributes related to the executed mortgage loan;
receiving information representative of payments made in connection with the executed mortgage loan;
receiving a search request at a computer system access point based on the received information representative of payments to retrieve a computer implemented record from the computer-implemented data storage system that satisfies the search request, wherein the record contains the attributes related to the executed mortgage loan;
retrieving the record from the computer-implemented data storage system identified by the search request;
displaying at least one attribute associated with the retrieved record;
receiving a non-periodic attribute modification request to modify at least one attribute associated with the retrieved record, the attribute modification request being received from a computer system associated with an entity operating as a loan servicer of the executed mortgage loan, the modification request being made based on a discrepancy between attribute data stored in the retrieved record and attribute data maintained by the loan servicer;
validating the non-periodic attribute modification request by applying at least one computer implemented business rule to the non-periodic attribute modification request;
modifying the at least one attribute of the retrieved record in the computer-implemented data storage system based on the validation of the non-periodic attribute modification request; and
performing loan accounting operations for the mortgage loan based on the information representative of payments made in connection with the mortgage loan and the modification of the at least one attribute of the retrieved record in the computer implemented data storage system. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15)
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16. A method comprising:
purchasing an executed mortgage loan in a secondary mortgage market as at least one of a mortgage purchaser, a mortgage investor, a mortgage guarantor, and a mortgage securitizer; and
maintaining attributes associated with the executed mortgage loan in a computer implemented data storage system, including generating a computer implemented record containing the attributes related to the executed mortgage loan;
receiving information representative of payments made in connection with the executed mortgage loan;
receiving a search request at a computer system access point based on the received information representative of payments to retrieve a computer implemented record from the computer-implemented data storage system that satisfies the search request, wherein the record contains the attributes related to the executed mortgage loan;
retrieving the record from the computer-implemented data storage system identified by the search request;
displaying at least one attribute associated with the retrieved record;
providing a computer-implemented graphical user interface to a loan servicer to allow the loan servicer to submit a non-periodic attribute modification request based on a change in loan attribute data maintained by the servicer;
receiving the non-periodic attribute modification request from the loan servicer including a request to modify at least one attribute associated with the record based on the change in the attribute data maintained by the loan servicer;
validating the non-periodic attribute modification request by applying at least one computer implemented business rule to the non-periodic attribute modification request;
modifying the at least one attribute of the retrieved record in the computer-implemented data storage system based on the validation of the non-periodic attribute modification request;
performing loan accounting operations for the mortgage loan based on the information representative of payments made in connection with the mortgage loan and the modification of the at least one attribute of the retrieved record in the computer implemented data storage system; and
determining distributions to one or more investors based on the modified attribute and the information representative of mortgage loan payments. - View Dependent Claims (17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30)
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31. A method, comprising:
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purchasing an executed mortgage loan in a secondary mortgage market as at least one of a mortgage purchaser, a mortgage investor, a mortgage guarantor, and a mortgage securitizer;
defining a type of loan product for the executed mortgage using a plurality of attributes of the executed mortgage, wherein different types of loan products are defined using different combinations of the plurality of attributes and/or different values for selected ones of the plurality of attributes; and
maintaining attributes associated with the executed mortgage loan in a computer implemented data storage system, including generating a computer implemented record containing the attributes related to the executed mortgage loan, the record including the type loan;
receiving information representative of payments made in connection with the executed mortgage loan;
receiving a search request at a computer system access point based on the received information representative of payments to retrieve a computer implemented record from the computer-implemented data storage system that satisfies the search request, wherein the record contains the attributes related to the executed mortgage loan;
retrieving the record from the computer-implemented data storage system identified by the search request;
displaying at least one attribute associated with the retrieved record;
receiving a non-periodic attribute modification request to modify at least one attribute associated with the computer-implemented record, the attribute modification request being received from a computer system associated with an entity operating as a loan servicer of the executed mortgage loan;
validating the non-periodic attribute modification request by applying at least one computer implemented business rule to the non-periodic attribute modification request;
modifying the at least one attribute of the retrieved record in the computer-implemented data storage system based on the validation of the non-periodic attribute modification request;
performing loan accounting operations for the mortgage loan based on the information representative of payments made in connection with the mortgage loan and the modification of the at least one attribute of the retrieved record in the computer implemented data storage system. - View Dependent Claims (32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45)
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Specification