COMPUTER IMPLEMENTED FINANCE MANAGEMENT ROUTING SYSTEM

• US 20100023447A1
• Filed: 12/11/2006
• Published: 01/28/2010
• Est. Priority Date: 12/11/2006
• Status: Active Grant

• Current Assignee: DealerCentric Solutions, Inc. (Routeone LLC)
• Original Assignee: DealerCentric Solutions, Inc. (Routeone LLC)
• Inventors: Mac Innis, Joseph Peter
• Granted Patent: US 8,392,294 B2
• Time in Patent Office: Days
• US Class Current: 705/38
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

Broadly, the present invention relates to data processing in general and more particularly to a finance management system or “system” (5) relating to the auto industry (25) that provides a gateway for vehicle purchase lead management tools to seamlessly integrate the auto sales process with the auto finance process, and enables sellers (25) to initiate, process, and decision loan transactions with financial institutions (100). The financial management system (5) described herein preferably includes, among other things, credit filters, (20), auto population of documents, and a decision engine (105) that retrieves or collects and combines or merges the borrower'"'"'s credit file(s) (110) with an applicant'"'"'s information (115), processes the information or data to a specific vehicle (145) and finance structure (160), matches the data against a lender'"'"'s proprietary mix of loan programs, pricing, credit policies and/or custom scoring models (120) to determine if a borrower (30) has qualified for a loan, and makes a result presentation (155) of a finance level of acceptability available to the auto dealer (25).

Claims

1. A finance management system for integrating the sale and finance of an item for purchase by an applicant, the system including a central processor for executing a program, the program comprising:

an inventory module having at least financial data relating to the item for purchase;

a finance module for receiving application data and credit data relating to the applicant for purchase of the item, and for further receiving deal structure data based on at least the financial data relating to the item for purchase;

a lender module for receiving finance data criteria from a lender representing applicant qualification for purchase of the item; and

an automated decision engine for determining the finance qualification of the applicant, and for facilitating a finance deal between the applicant and the lender based on said finance qualification of the applicant;

wherein the decision engine receives the application data, the credit data, the deal structure data, and the finance data criteria; and

wherein the decision engine includes a filter for comparing the application data, credit data, and the deal structure data with the one or more finance data criteria, determining the finance qualification of the applicant based on the comparison, and automatically providing a result presentation of the finance qualification of the applicant.

2. A finance management system for integrating the sale and finance of an item for purchase by an applicant, the system including:

a central processor for executing a program comprising,

an automated decision engine for determining an applicant'"'"'s finance qualification, and for facilitating a finance agreement between said applicant and a lender that is based on at least the applicant'"'"'s finance qualification;

wherein the decision engine includes means for receiving application data and credit data each relating to the applicant for purchase of the item, deal structure data that is based on at least financial data relating to the item for purchase, and one or more finance data criteria relating to lender qualification of the applicant for purchase of the item; and

wherein the decision engine further includes a filter for comparing the application data, credit data, and the deal structure data with the one or more finance data criteria, determining the finance qualification of the applicant based on the comparison, and automatically providing a result presentation of the finance qualification of the applicant; and

wherein the system further includes an interface for viewing the result presentation.

3. A method of integrating the sale and finance of an item for purchase by an applicant, the method including the steps of:

providing a central processor for executing a program;

executing the program by the central processor, the program including the steps of;

receiving application data and credit data each relating to the applicant for purchase of the item, deal structure data that is based on at least financial data relating to the item for purchase, and one or more finance data criteria relating to lender qualification of the applicant for purchase of the item;

comparing the application data, credit data, and the deal structure data with the one or more finance data criteria;

determining the finance qualification of the applicant based on the comparison;

automatically providing a result presentation of the finance qualification of the applicant; and

structuring a finance deal between the applicant and a lender that is based on at least said finance qualification of the applicant.

4. The method of claim 3 further including the steps of:

providing a user interface; and

viewing the results presentation on the interface.

5. A method of integrating the sale and finance of an item for purchase by an applicant, the method including the steps of:

providing a executable program;

executing the program having the steps of;

receiving application data and credit data each relating to the applicant for purchase of the item, deal structure data that is based on at least financial data relating to the item for purchase, and one or more finance data criteria relating to lender qualification of the applicant for purchase of the item;

comparing the application data, credit data, and the deal structure data with the one or more finance data criteria;

determining the finance qualification of the applicant based on the comparison;

automatically providing a result presentation of the finance qualification of the applicant; and

facilitating a finance deal between the applicant and a lender that is based on said finance qualification of the applicant.