System and method for processing data pertaining to financial assets
First Claim
1. A computer-implemented data processing system for processing mortgage loans comprising:
- (A) a data storage system configured to store mortgage loan data, the mortgage loan data including acquisition information, payment reporting information, and investment information;
(B) a hardware processor configured to retrieve the mortgage loan data from the data storage system, wherein the hardware processor is configured to execute(1) acquisition logic, the acquisition logic including logic configured to receive the acquisition information pertaining to loan term, interest rate, principal owed and other parameters for a plurality of mortgage loans, the acquisition logic being configured to store the acquisition information in the data storage system, the acquisition logic including(a) committing logic configured to permit a seller of the plurality of mortgage loans to enter into a commitment to sell the plurality of mortgage loans,(b) pricing logic configured to determine selling prices for the plurality of mortgage loans based on the acquisition information, and(c) deal management logic configured to track terms of deals entered into with the seller of the plurality of mortgage loans based on the acquisition information;
(2) reporting logic, the reporting logic including logic configured to receive the payment reporting information regarding borrower payments in connection with the plurality of mortgage loans, the reporting information being received on an ongoing basis throughout at least a portion of a term of each the plurality of mortgage loans, the reporting logic being configured to store the reporting information in the data storage system, and the reporting logic including(a) comparison logic configured to calculate expected payment reporting information pertaining to the plurality of mortgage loans and to compare the expected payment reporting information with the received payment information, the expected payment reporting information being calculated based on the acquisition information,(b) accounting logic configured to generate accounting records reflecting the received payment information, and(c) aggregation logic configured to aggregate cash flows from the plurality of mortgage loans to generate payment information for the plurality of financial assets;
(3) financial asset generation logic, the financial asset generation logic including logic configured to facilitate creation and maintenance of a plurality of financial assets backed by the plurality of mortgage loans based on the acquisition information, the creation and maintenance of the plurality of financial assets resulting in the generation of the investment information, the financial asset generation logic being configured to store the investment information in the data storage system;
(4) a rules engine, the rules engine comprising a series of business rules, the rules engine applying the business rules to at least one of the acquisition information, the payment reporting information, and the investment information; and
wherein the acquisition logic, the reporting logic, and the financial asset generation logic are provided on a common integrated data processing platform; and
wherein the data storage system comprises a first data base accessible to the reporting logic and a second data base accessible to the financial asset generation logic, and wherein the first and second data bases are synchronized on a periodic basis.
1 Assignment
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Accused Products
Abstract
A data processing system for processing loan data comprises acquisition logic, reporting logic, and financial asset generation logic. The acquisition logic is configured to receive information pertaining to loan term, interest rate, principal owed and other parameters for a plurality of loans. The reporting logic is configured to receive payment information regarding borrower payments in connection with the plurality of loans. The financial asset generation logic is configured to facilitate creation and maintenance of a plurality of financial assets backed by the plurality of loans. The acquisition logic, the reporting logic, and the financial asset generation logic are provided on a common integrated data processing platform.
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Citations
32 Claims
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1. A computer-implemented data processing system for processing mortgage loans comprising:
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(A) a data storage system configured to store mortgage loan data, the mortgage loan data including acquisition information, payment reporting information, and investment information; (B) a hardware processor configured to retrieve the mortgage loan data from the data storage system, wherein the hardware processor is configured to execute (1) acquisition logic, the acquisition logic including logic configured to receive the acquisition information pertaining to loan term, interest rate, principal owed and other parameters for a plurality of mortgage loans, the acquisition logic being configured to store the acquisition information in the data storage system, the acquisition logic including (a) committing logic configured to permit a seller of the plurality of mortgage loans to enter into a commitment to sell the plurality of mortgage loans, (b) pricing logic configured to determine selling prices for the plurality of mortgage loans based on the acquisition information, and (c) deal management logic configured to track terms of deals entered into with the seller of the plurality of mortgage loans based on the acquisition information; (2) reporting logic, the reporting logic including logic configured to receive the payment reporting information regarding borrower payments in connection with the plurality of mortgage loans, the reporting information being received on an ongoing basis throughout at least a portion of a term of each the plurality of mortgage loans, the reporting logic being configured to store the reporting information in the data storage system, and the reporting logic including (a) comparison logic configured to calculate expected payment reporting information pertaining to the plurality of mortgage loans and to compare the expected payment reporting information with the received payment information, the expected payment reporting information being calculated based on the acquisition information, (b) accounting logic configured to generate accounting records reflecting the received payment information, and (c) aggregation logic configured to aggregate cash flows from the plurality of mortgage loans to generate payment information for the plurality of financial assets; (3) financial asset generation logic, the financial asset generation logic including logic configured to facilitate creation and maintenance of a plurality of financial assets backed by the plurality of mortgage loans based on the acquisition information, the creation and maintenance of the plurality of financial assets resulting in the generation of the investment information, the financial asset generation logic being configured to store the investment information in the data storage system; (4) a rules engine, the rules engine comprising a series of business rules, the rules engine applying the business rules to at least one of the acquisition information, the payment reporting information, and the investment information; and wherein the acquisition logic, the reporting logic, and the financial asset generation logic are provided on a common integrated data processing platform; and wherein the data storage system comprises a first data base accessible to the reporting logic and a second data base accessible to the financial asset generation logic, and wherein the first and second data bases are synchronized on a periodic basis. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15)
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16. A computer-implemented data processing system for facilitating the processing of mortgage loans, comprising:
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(A) a data storage system configured to store mortgage loan data, the mortgage loan data including acquisition information, payment reporting information, and investment information; (B) a hardware processor configured to retrieve the mortgage loan data from the data storage system, wherein the hardware processor is configured to execute (1) underwriting logic, the underwriting logic including logic for determining mortgage loan eligibility requirements of a purchaser of the mortgage loans and generating an underwriting recommendation for the mortgage loans, the underwriting logic including; (a) data capture logic configured to receive at least some of the mortgage loan data in the form of underwriting data for each of the mortgage loans to be processed by the underwriting logic and to store the underwriting data in the data storage system; and (b) credit scoring logic configured to generate a credit score for a mortgage loan applicant for each of the mortgage loans based at least on the credit history of the applicant for the mortgage loan; (2) acquisition logic, the acquisition logic including logic configured to receive the acquisition information, the acquisition information pertaining to mortgage loan term, interest rate, principal owed and other parameters for the mortgage loans, the acquisition logic being configured to store the acquisition information in the data storage system, the acquisition logic including (a) committing logic configured to manage cash commitment agreements between sellers and purchasers of the mortgage loans, the cash commitment agreements specifying at least a type of mortgage loan, an amount of time to make delivery of the mortgage loans, and a price a purchaser will pay for the mortgage loans; (b) lender eligibility logic configured to store information regarding the eligibility of particular sellers to sell the mortgage loans in the data storage system; and permit users to edit product-specific and seller-specific parameters related to the eligibility of particular sellers to sell the mortgage loans; (c) pricing logic configured to generate pricing information related to the mortgage loans based on the acquisition information, the pricing information including prices for the mortgage loans; and prices for mortgage-backed securities backed by the mortgage loans; (d) delivery logic configured to process the mortgage loans when the mortgage loans are delivered to purchasers by applying a set of business rules to the mortgage loan data for each of the mortgage loans to determine compliance of the mortgage loan data with an agreement between the seller and the purchaser regarding the sale of the mortgage loans, the delivery logic further configured to permit users to edit the mortgage loan data in the data storage system for the mortgage loans; (e) certification logic configured to determine whether documentation for each of the mortgage loans is complete and the mortgage loan is ready to be delivered to the purchaser; and (f) custody logic configured to track and store information regarding the location and travel of physical mortgage loan documentation for each of the mortgage loans; (3) reporting logic, the reporting logic including logic configured to receive payment reporting information regarding borrower payments in connection with the mortgage loans, the reporting information being received on an ongoing basis throughout at least a portion of a term of each of the mortgage loans the reporting logic being configured to store the reporting information in the data storage system, and the reporting logic including; (a) loan process and compare logic configured to monitor and validate the mortgage loan data regarding the mortgage loans as used by servicers of the mortgage loans; (b) attribute change processor logic for processing changes to mortgage loan attributes required as a result of at least one of the identification of new mortgage loan attributes; and the identification of discrepancies between an agreement between the seller and the purchaser regarding the sale of the mortgage loans and the mortgage loan data captured by the acquisition logic; (c) servicer transfer logic configured to receive and store information in the data storage system regarding changes in a mortgage loan servicer for at least one of the mortgage loans; (d) cash processor logic configured to permit mortgage loan servicers to establish and maintain bank accounts with the purchaser and to perform automated cash transactions regarding the mortgage loans; and (e) accounting logic configured to generate accounting records related to the mortgage loans including received payment information and to store the accounting records in the data storage system; and (4) securitization logic, the securitization logic being configured to facilitate the creation and maintenance of financial assets backed by the mortgage loans, the securitization logic being configured to generate the investment information regarding the financial assets and to store the investment information in the data storage system, the securitization logic including (a) sifting and sorting logic configured to sort and/or aggregate cash flows from the mortgage loans according to cash flow attributes; (b) packeting logic for storing information in the data storage system regarding aggregated cash flows, including the sources of the individual cash flows that make up the aggregated cash flows; (c) position monitor logic configured to provide the purchaser with investment position information regarding the mortgage loans and securities; (d) pooling logic configured to permit pooling of the mortgage loans based on attributes of the mortgage loans, wherein cash flows associated with the mortgage loans are pooled based upon cash flow attributes; and (e) whole loan trading logic configured to permit the operator of the data processing system to sell at least one of the mortgage loans to another entity; and report to the servicer of a sold mortgage loan that the mortgage loan has been sold and identify the new owner of the mortgage loan. - View Dependent Claims (17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32)
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Specification