Automated credit application system
First Claim
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1. A computer aided method of managing a credit application, the method comprising the steps of:
- receiving credit application data from a remote application entry and display device;
selectively forwarding the credit application data to remote funding source terminal devices;
forwarding funding decision data from at least one of the remote funding source terminal devices to the remote application entry and display device;
wherein the selectively forwarding the credit application data step further comprises;
sending at least a portion of a credit application to more than one of said remote funding sources substantially at the same time;
sending at least a portion of a credit application to more than one of said remote funding sources sequentially until a finding source returns a positive funding decision;
sending at least a portion of a credit application to a first one of said remote funding sources, and then, after a predetermined time, sending to at least one other remote funding source, until one of the finding sources returns a positive funding decision or until all funding sources have been exhausted;
or;
sending the credit application from a first remote funding source to a second remote finding source if the first funding source declines to approve the credit application.
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Accused Products
Abstract
A computer based credit application processing system provides a graphical user interface, automatic software update downloading, lender to lender routing of credit applications, and integration with in-house finance and insurance systems and third party data entry facilities, among other features. Web site linkage is also accommodated.
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Citations
8 Claims
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1. A computer aided method of managing a credit application, the method comprising the steps of:
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receiving credit application data from a remote application entry and display device; selectively forwarding the credit application data to remote funding source terminal devices; forwarding funding decision data from at least one of the remote funding source terminal devices to the remote application entry and display device; wherein the selectively forwarding the credit application data step further comprises; sending at least a portion of a credit application to more than one of said remote funding sources substantially at the same time; sending at least a portion of a credit application to more than one of said remote funding sources sequentially until a finding source returns a positive funding decision; sending at least a portion of a credit application to a first one of said remote funding sources, and then, after a predetermined time, sending to at least one other remote funding source, until one of the finding sources returns a positive funding decision or until all funding sources have been exhausted;
or;sending the credit application from a first remote funding source to a second remote finding source if the first funding source declines to approve the credit application. - View Dependent Claims (2, 3, 4)
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5. A computer aided method of managing a credit application, the method comprising the steps of:
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receiving credit application data from a remote application entry and display device; selectively forwarding the credit application data to a first remote funding source terminal device; wherein the selectively forwarding the credit application data step further comprises; facilitating the first remote finding source terminal device to selectively forward the credit application to a second remote funding source terminal device if the funding source associated with the first remote finding source terminal declines to approve the credit application; and
;forwarding funding decision data from at least one of the first and second remote funding source terminal devices to the remote application entry and display device. - View Dependent Claims (6, 7, 8)
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Specification