METHOD AND SYSTEM FOR PROVIDING FINANCING
First Claim
1. A method for providing a financing service, the method comprising the steps of:
- receiving information related to a financing transaction, the information including information about the customer'"'"'s capacity to pay, the collateral and the credit worthiness of the customer;
simultaneously providing multiple offers for financing the transaction with each offer including an advancement amount and a sharing percentage of future payments and each offer is based at least in part on at least a portion of the information received;
receiving an offer selection; and
incorporating the financed transaction into a portfolio of transactions, the portfolio including a maximum value and tolling that value by the value of the financed transaction.
3 Assignments
0 Petitions
Accused Products
Abstract
Methods for financing dealer debt instruments for customers of a dealer are disclosed. One method, among others, an underwriter system that finances a dealer debt instrument based upon at least one of customer information, product information, and transaction information for the dealer debt instrument. The underwriter system may calculate an initial purchase offer, and then adjust the initial purchase offer based at least upon at least one of product information and transaction information. In some situations, the underwriter system may provide a dealer with multiple purchase offers for one debt instrument.
96 Citations
20 Claims
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1. A method for providing a financing service, the method comprising the steps of:
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receiving information related to a financing transaction, the information including information about the customer'"'"'s capacity to pay, the collateral and the credit worthiness of the customer; simultaneously providing multiple offers for financing the transaction with each offer including an advancement amount and a sharing percentage of future payments and each offer is based at least in part on at least a portion of the information received; receiving an offer selection; and incorporating the financed transaction into a portfolio of transactions, the portfolio including a maximum value and tolling that value by the value of the financed transaction. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15)
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16. A method for providing a financing service, the method comprising the steps of:
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receiving information related to a financing transaction, the information including information about the customer'"'"'s capacity to pay, the collateral and the credit worthiness of the customer; determining, based on the customer'"'"'s capacity to pay if an offer is to be made to the customer; if an offer is to be made to the dealer, providing multiple offers for financing the transaction with each offer including an advancement amount and a sharing percentage of future payments and each offer is based at least in part on at least a portion of the information received; receiving an offer selection; incorporating the financed transaction into a portfolio of transactions, the portfolio including a maximum value and tolling that value by the value of the financed transaction; closing the portfolio when a plurality of financial transactions meet the value of the portfolio - View Dependent Claims (17, 18, 19)
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20. A method for providing a fixed yield financing service, the method comprising the steps of:
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receiving information related to a financing transaction, the information including information about the customer'"'"'s capacity to pay, the collateral and the credit worthiness of the customer; determining, based on the customer'"'"'s capacity to pay if an offer is to be made to the customer; if an offer is to be made to the customer, adjusting the value of the offer based on the collateral and the credit worthiness of the customer; providing multiple offers for financing the transaction with each offer including an advancement amount and a sharing percentage of future payments; receiving an offer selection with an APR that is selected from an APR range; incorporating the financed transaction into a portfolio of transactions, the portfolio including a maximum value and tolling that value by the value of the financed transaction; closing the portfolio when a plurality of financial transactions meet the value of the portfolio as payments are collected on the financial transactions in the portfolio, funds are accumulated to meet a reserve value calculated to be a percentage of the total amount of advanced funds represented by the financial transactions; at the end of a payment cycle, recalculating the reserve value based on a percentage of the currently outstanding balance of the advanced funds; if the funds in the reserve exceed the new reserve value, distributing those funds and continuing to accumulate future payments received; and if the funds in the reserve do not exceed the new reserve value, continue collecting payments for the next payment cycle.
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Specification