System and Method for Sharing and Allocating Financial Risk Associated with a Loan
First Claim
Patent Images
1. A computer-implemented method for processing a loan, the method comprising:
- receiving an application for a loan comprising information about a buyer;
determining an amount of funds to be contributed to the holdback pool by the seller based on the information about the buyer;
receiving approval of the amount of funds from the seller; and
approving the application for the loan responsive to the approval from the seller.
1 Assignment
0 Petitions
Accused Products
Abstract
An application for a loan comprising information about a buyer is received. An amount of funds to be contributed to the holdback pool by the seller based on the information about the buyer is determined. Approval of the amount of funds is received from the seller. The application for the loan is approved responsive to the approval from the seller.
-
Citations
20 Claims
-
1. A computer-implemented method for processing a loan, the method comprising:
-
receiving an application for a loan comprising information about a buyer; determining an amount of funds to be contributed to the holdback pool by the seller based on the information about the buyer; receiving approval of the amount of funds from the seller; and approving the application for the loan responsive to the approval from the seller. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
-
-
11. A computer system for processing a loan, the system comprising:
a reporting module adapted for communication with a loan provider system and the seller system;
the reporting module for receiving an application for a loan comprising information about a buyer from a seller system, determining a holdback value representing a financial risk associated with the loan based on the information about the buyer and determining an amount of funds to be contributed to the holdback pool by the seller system based on the holdback value, the holdback module adapted for communication with the reporting module.- View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20)
Specification