Methods and systems for automated data collection and analysis for use in association with asset securitization

• US 7,415,471 B1
• Filed: 11/30/2001
• Issued: 08/19/2008
• Est. Priority Date: 11/30/2001
• Status: Expired due to Term

• Current Assignee: The PNC Financial Services Group, Inc.
• Original Assignee: Midland Loan Services, Inc. (The PNC Financial Services Group, Inc.)
• Inventors: Coleman, Donald P.
• Primary Examiner(s): ROBINSON, GRETA LEE
• Application Number:
  US09/998,152
• Time in Patent Office: 2,454 Days
• Field of Search: 705/38, 705/1, 705/35, 705/36, 705/40, 705/36.R, 707/1, 707/102, 707/104.1, 707/200, 707/9, 707/100, 707/101
• US Class Current: 1/1
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• 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
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: Y10S 707/99945 Object-oriented database structure processing

Abstract

A computer-assisted method and system for processing asset-related documents in a database having at least one record therein. The method includes reviewing asset-related data contained on at least one asset document, receiving the asset document into the database on a flow basis, analyzing the contents of the asset document to ensure compliance with at least one standard, and providing output data from the record in said database. System and computer readable media embodiments of the methods are also provided.

Claims

1. A computer implemented method for automated aggregation and authentication of asset documents, said method comprising:

associating an asset with a record in a database;

inventorying an asset document into the associated record in the database on a flow basis including inventorying information from said asset document into the database as said information from said asset document becomes available for inventorying, including collecting data from said asset document independently of an end use of said document;

analyzing contents of the asset document to ensure compliance with at least one standard pursuant to securitization of multiple assets, wherein at least one of the multiple assets comprises a commercial mortgage loan;

providing specific information contained in the record to a user on demand; and

generating common information from a plurality of the records pursuant to securitization of the multiple assets;

wherein generating comprises aggregating the common information contained in the plurality of records and compiling the aggregated common information in a datafile.

2. The method of claim 1, wherein the inventorying step comprises:

determining a necessary asset document for origination or updating of the record;

entering information contained in the necessary asset document into the record of the database on a flow basis;

scanning the necessary asset document for the purpose of creating an electronic facsimile of the necessary asset document; and

reviewing the record and the electronic facsimile to ensure compliance with at least one standard.

3. The method of claim 2, wherein the inventorying step further comprises generating an identification marker and affixing the identification marker to the necessary asset document.

4. The method of claim 2, wherein the standard comprises a legal standard for document quality.

5. The method of claim 2, wherein the inventorying step further comprises initiating a query to determine missing data for the associated record.

6. The method of claim 1, wherein the analyzing step comprises:

retrieving data stored in the associated record; and

comparing the contents of the asset document to the retrieved data.

7. The method of claim 1, wherein the providing step comprises:

requesting specific information contained in the asset document;

locating a record associated with the asset document;

retrieving the record; and

extracting the specific information contained in the record.

8. The method of claim 7, wherein the step of extracting the specific information further comprises writing the common information to a computer readable medium.

9. The method of claim 7, wherein the step of extracting the specific information further comprises publishing the required information on a website.

10. The method of claim 7, wherein the step of extracting the specific information further comprises generating and sending an e-mail message containing the required information.

11. The method of claim 7, wherein the step of extracting further comprises generating a copy of the electronic facsimile of the asset document containing the specific information.

12. The method of claim 1, wherein the generating step comprises:

determining the common information required from a plurality of the asset documents;

initiating a query in the database whereby the query collects all records containing the common information thereby creating a plurality of asset records;

extracting the aggregated common information; and

displaying the aggregated common information.

13. The method of claim 12, wherein the step of extracting the aggregated common information further comprises extracting the common information for securitizing a financial instrument.

14. The method of claim 12, wherein the step of extracting the aggregated common information further comprises writing the common information to a computer readable medium.

15. The method of claim 12, wherein the step of extracting the aggregated common information further comprises publishing the common information on a website.

16. The method of claim 12, wherein the step of extracting the aggregated common information further comprises generating and sending an e-mail message containing the common information.

17. The method of claim 12, wherein the database includes a relational database.

18. The method of claim 1, wherein the standard comprises a banking standard for securitizing a financial instrument.

19. A computer system for automated aggregation and authentication of asset documents comprising:

a data input device for receiving first information from an asset document associated with an asset from an input source on a flow basis including receiving said first information as said first information becomes available for entry, where information from a plurality of the asset documents associated with the asset comprise a record, wherein flow basis includes collecting information from said asset document independently of an end use of said asset document;

a storage device for storing the record;

a processor for;

generating comparison data wherein the comparison data comprises compared common data fields of the stored first information from a plurality of the asset documents within the record, retrieving the comparison data and providing the comparison data to a user pursuant to securitization of multiple assets, wherein at least one of the multiple assets comprises a commercial mortgage loan;

retrieving second information where the second information comprises the asset documents common data fields within the record and providing the second information to a user pursuant to securitization of the multiple assets;

retrieving third information where the third information comprises data from fields common to multiple records and providing the third information to a user pursuant to securitization of the multiple assets;

identifying missing data for the asset and providing a missing data output to notify a user; and

a data output device for generating first output information from the processor pursuant to securitization of the multiple assets, wherein generating comprises aggregating the first output information contained in the plurality of records and compiling the first output in a datafile.

20. The computer system according to claim 19, wherein the storage device includes a relational database.

21. The computer system according to claim 20, wherein the first information is electronically transferred to the computer system.

22. The computer system according to claim 21, wherein the first information is transferred to the computer system over a telecommunications system.

23. The computer system according to claim 22, wherein the processor aggregates information from the multiple assets thereby creating an asset aggregation output for use in securitizing the multiple assets into a financial instrument pursuant to securitization of the multiple assets.

24. A computer system for managing, servicing and aggregating commercial mortgage loans comprising:

a means for inputting information regarding a plurality of commercial mortgage loans on a flow basis pursuant to securitization of multiple assets including inputting said commercial mortgage loan information as said commercial mortgage loan information becomes available for input, wherein flow basis includes collecting commercial mortgage loan data independently of the securitization end use of the commercial mortgage loan data;

a means for storing the information regarding the commercial mortgage loans;

a first query means for collecting information from at least one commercial mortgage loan;

a first query result presentation means for presenting the collected information;

a second query means for determining if any data is missing from the commercial mortgage loan;

a second query result presentation means for presenting a missing data alert;

a means for aggregating the information of the commercial mortgage loans wherein the means for aggregating has an asset analysis means for determining if the commercial mortgage loan is prepared for securitization;

a means for extracting aggregated information pursuant to securitization of the multiple assets;

a means for alerting a user if any aggregated information necessary for securitization is missing; and

a means for displaying aggregated information pursuant to securitization of the multiple assets.

25. A computer implemented method for automated aggregation and authentication of asset documents, the method comprising:

associating an asset with a record in a database;

inventorying an asset document into the associated record in the database on a flow basis in near real time as the asset document becomes available to the loan originator wherein flow basis includes inventorying data from the asset document independently of an end use of the data in the asset document;

analyzing contents of the asset document to ensure compliance with customary standards for loan securitization;

providing specific information contained in the record to a user pursuant to securitization of multiple assets, wherein at least one of the multiple assets comprises a commercial mortgage loan; and

generating common information from a plurality of the records where the common information is generated for the purpose of securitizing the asset into a trust and providing common information to potential investors in the trust;

wherein generating comprises aggregating the common information contained in the plurality of records and compiling the aggregated common information in a datafile.

26. A computer implemented method for automated aggregation and authentication of asset documents, said method comprising:

associating an asset with a record in a database;

inventorying an asset document into the associated record in the database on a flow basis including inventorying information from said asset document into the database as said information from said asset document becomes available for inventorying, wherein flow basis includes inventorying information from said asset document independently of an end use of said information from said asset document;

wherein the inventorying step comprises;

a. determining a necessary asset document for origination or updating of the record;

b. entering information contained in the necessary asset document into the record of the database on a flow basis;

c. scanning the necessary asset document for the purpose of creating an electronic facsimile of the necessary asset document;

d. reviewing the record and the electronic facsimile to ensure compliance with at least one standard;

analyzing contents of the asset document to ensure compliance with at least one standard pursuant to securitization of multiple assets, wherein the analyzing step comprises;

a. retrieving data stored in the associated record;

b. comparing the contents of the asset document to the retrieved data;

providing specific information contained in the record to a user on demand, wherein the providing step comprises;

a. requesting specific information contained in the asset document;

b. locating a record associated with the asset document;

c. retrieving the record;

d. extracting the specific information contained in the record;

generating common information from a plurality of the records pursuant to securitization of the multiple assets, wherein at least one of the multiple assets includes a commercial mortgage loan, wherein the generating step comprises;

a. determining the common information required from a plurality of the asset documents;

b. initiating a query in the database whereby the query collects all records containing the common information thereby creating a plurality of asset records;

c. aggregating the common information contained in the plurality of records;

d. extracting the aggregated common information; and

e. displaying the aggregated common information.

27. The method of claim 26, wherein the standard comprises at least one standard selected from the group consisting of a banking standard for securitizing a financial instrument and a legal standard for document quality.

28. A computer system for automated aggregation and authentication of asset documents comprising:

a data input device for receiving first information from an asset document associated with an asset from an input source on a flow basis including receiving said first information as said first information becomes available for entry, flow basis including receiving information from said asset document independently of an end use of the information in said asset document;

where information from a plurality of the asset documents associated with the asset comprise a record, the first information being electronically transferred to the computer system over a telecommunications system;

a storage device including a relational database for storing the record;

a processor for;

a. generating comparison data wherein the comparison data comprises compared common data fields of the stored first information from a plurality of the asset documents within the record, retrieving the comparison data and providing the comparison data to a user pursuant to securitization of multiple assets, wherein at least one of the multiple assets comprises a commercial mortgage loan;

b. retrieving second information where the second information comprises the asset documents common data fields within the record and providing the second information to a user pursuant to securitization of the multiple assets;

c. retrieving third information where the third information comprises data from fields common to multiple records and providing the third information to a user pursuant to securitization of the multiple assets;

d. identifying missing data for the asset and providing a missing data output to notify a user;

e. analyzing asset document data to promote compliance with at least one standard pursuant to securitization of the multiple assets, the standard including at least one standard selected from the group consisting of a banking standard for securitizing a financial instrument and a legal standard for document quality;

f. aggregating information from the multiple asset documents to create an asset aggregation output for use in securitizing the multiple assets into a financial instrument; and

a data output device for generating first output information from the processor pursuant to securitization of the multiple assets.