METHODS AND SYSTEMS FOR VENDOR ASSURANCE

• US 20090240596A1
• Filed: 12/15/2008
• Published: 09/24/2009
• Est. Priority Date: 09/12/2003
• Status: Active Grant

• Current Assignee: Altisource Holdings, S.A.R.L. (Altisource Portfolio Solutions SA), Andrei Iancu, Ashley Moody Florida Office of The Attorney General and Successors Thereto, Jeanette Nunez Lieutenant Governor of Florida and Successors Thereto, Joan D. Heuer, Laurel M Lee Florida Secretary of State and Successors Thereto, Steven Mnuchin United States Secretary of The Treasury and Successors Thereto, Timothy E Gribben Commissioner For Bureau of The Fiscal Service Agency of The United States Department of The Treasury and Successors and Assigns Thereto
• Original Assignee: Ocwen Financial Corporation (Omega Advisors, Inc.)
• Inventors: HURLEY, Bryan, KENNEDY, Christopher
• Granted Patent: US 8,266,013 B2
• Time in Patent Office: Days
• US Class Current: 705/26
• CPC Class Codes: G06Q 30/0282 Rating or review of business operators or products
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0625 Directed, with specific intent or strategy
• CPC Class Codes: G06Q 30/0633 Lists, e.g. purchase orders, compilation or processing
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

Methods and systems for managing financial transactions. Specifically, the invention includes methods and systems for creating order profiles used to select vendors for carrying out third-party sub-transactions needed to complete financial transactions. A product related to the completion of the financial transaction is selected, a vendor ordering profile is selected, a product vendor that most closely matches the characteristics designated in the ordering profile is selected, and the selected product is ordered from the selected product vendor.

Claims

1. A method for managing a financial transaction, the method comprising:

receiving, via a computer, a selection of a product related to performing the financial transaction;

receiving via the computer, a selection of an ordering profile having desired characteristics;

applying the ordering profile to a predetermined list of product vendors;

obtaining a selection of a product vendor from the predetermined list, the selected product vendor having characteristics aligned with desired characteristics of the selected ordering profile; and

outputting the selection of the product vendor on an output device.

2. The method of claim 1, further comprising:

ordering the selected product from the selected product vendor.

3. The method of claim 1, wherein the ordering profile is one selected from a group consisting of an existing ordering profile and a new ordering profile.

4. The method of claim 3, wherein the ordering profile is a new ordering profile, the method further comprising:

receiving a selection of an ordering area;

receiving a selection of parameters for preselected criteria for evaluating vendors;

receiving a selection of a distribution method; and

receiving a selection of distribution parameters.

5. The method of claim 4, wherein the distribution method is one selected from a group consisting of an equal distribution method, a specified distribution method, and a qualitative distribution method.

6. The method of claim 1, wherein obtaining a selection of a product vendor includes:

ranking the product vendors in the predetermined list based on criteria specified by an end user; and

obtaining a selection of a ranked vendor having characteristics that most closely align with the desired characteristics of the ordering profile, based on a ranking of the desired characteristics.

7. The method of claim 6, wherein, if the selected ranked vendor has reached a predetermined number of orders designated as a limit, obtaining a selection of another ranked vendor.

8. A system for managing a financial transaction between a product vendor and a system user, the system comprising:

a processor;

a user interface functioning via the processor; and

a repository accessible via the processor;

wherein a selection is received for ordering from the repository of a product related to the completion of the financial transaction,

wherein a selection for a vendor ordering profile having desired characteristics is received;

wherein the selected vendor ordering profile is applied to a list of product vendors stored in the repository;

wherein a result of the application is displayed via the user interface;

wherein a selection of a product vendor to complete an order for the product is received; and

wherein the selection of the product vendor is outputted on an output device.

9. The system according to claim 8, wherein the processor is housed on a terminal.

10. The system according to claim 9, wherein the terminal is selected from a group consisting of a personal computer, a minicomputer, a main frame computer, a microcomputer, a hand held device, and a telephonic device.

11. The system according to claim 9, wherein the processor is housed on a server.

12. The system according to claim 11, wherein the server is coupled to the network via a coupling.

13. The system according to claim 12, wherein the coupling is selected from a group consisting of a wired connection, a wireless connection, and a fiber optic connection.

14. A computer program product comprising a computer usable medium having control logic stored therein for causing a computer to facilitate a transmission between a product vendor and an system user, the control logic comprising:

first computer readable program code means for receiving a selection of a product related to performing the financial transaction;

second computer readable program code means for receiving a selection of an ordering profile having desired characteristics;

third computer readable program code means for applying the ordering profile to a predetermined list of product vendors;

fourth computer readable program code means for obtaining a selection of a product vendor from the predetermined list, the selected product vendor having characteristics aligned with desired characteristics of the selected ordering profile; and

fifth computer readable program code means for outputting the selection of the product vendor on an output device.

15. The computer program product of claim 14, the control logic further comprising:

fifth computer readable program code means for ordering the selected product from the selected product vendor.

16. The computer program product of claim 14, wherein the ordering profile is one selected from a group consisting of an existing ordering profile and a new ordering profile.

17. The computer program product of claim 14, wherein the ordering profile is a new ordering profile, the control logic further comprising:

fifth computer readable program code means for receiving a selection of an ordering area;

sixth computer readable program code means for receiving a selection of parameters for preselected criteria for evaluating vendors;

seventh computer readable program code means for receiving a selection of a distribution method; and

eighth computer readable program code means for receiving a selection of distribution parameters.

18. The computer program product of claim 17, wherein the distribution method is one selected from a group consisting of an equal distribution method, a specified distribution method, and a qualitative distribution method.

19. The computer program product of claim 14, wherein the program code means for obtaining a selection of a product vendor includes:

fifth computer readable program code means for ranking the product vendors in the predetermined list based on criteria specified by an end user; and

sixth computer readable program code means for obtaining a selection of a ranked vendor having characteristics that most closely align with the desired characteristics of the ordering profile, based on a ranking of the desired characteristics.

20. The computer program product of claim 19, wherein, if the selected ranked vendor has reached a predetermined number of orders designated as a limit, obtaining a selection of another ranked vendor.