System and method for tracking and facilitating analysis of variance and recourse transactions

• US 7,756,778 B1
• Filed: 12/16/2004
• Issued: 07/13/2010
• Est. Priority Date: 12/18/2003
• Status: Active Grant

• Current Assignee: Fannie Mae
• Original Assignee: Fannie Mae
• Inventors: Downey, Christopher T.
• Primary Examiner(s): Cheung; Mary
• Assistant Examiner(s): Holly; John H
• Application Number:
  US11/015,341
• Time in Patent Office: 2,035 Days
• Field of Search: 705/38, 705/39, 705/35, 705/44, 705/1, 705/7, 705/28, 705/37, 705/40, 705/2, 235/380, 707/104, 707/102, 702/195
• US Class Current: 705/38
• 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
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A system for facilitating the analysis of a transaction request. The system includes an interface. The interface is configured to receive input data related to the transaction request. The input data includes at least a selection of a variance transaction or a recourse transaction. The system further includes a transaction request processor configured to generate a transaction assessment based on at least the input data and a reporting engine configured to provide the transaction assessment.

Claims

1. A method for facilitating a variance transaction, comprising:

receiving at a computer-implemented transaction analysis system loan input data and a variance transaction request related to the loan input data, the loan input data and variance transaction request being received from a client computing system, the loan input data and variance transaction request being received after closing of a loan, the variance transaction request being for the sale of the loan in a secondary mortgage market, the variance transaction request being received from a seller of the loan by way of a communication network, the variance transaction request being received for approval by a purchaser of the loan, the variance transaction request being a request for a variance transaction in which the loan sold by the seller to the purchaser varies from predefined types of loans the seller may sell to the purchaser under a preexisting master agreement, the preexisting master agreement being an agreement between the seller and the purchaser that defines the predefined types of loans the seller may sell to the purchaser;

storing at a transaction request database a record of variance transactions previously granted by the purchaser;

storing at a computer-implemented deal management system terms associated with a deal made between the seller and the purchaser regarding an agreement in which the purchaser agrees to buy an underlying loan subject to the variance transaction request from the seller, and wherein an approval of the variance transaction request is needed prior to submittal of the deal to the deal management system;

receiving at least one of loan term information, interest rate information, principal owed information, and additional data regarding the loan for which the variance transaction is requested;

determining at the computer-implemented transaction analysis system a deviation from the preexisting master agreement by comparing the loan input data to the predefined types of loans defined in the preexisting master agreement;

generating at the computer-implemented transaction analysis system an assessment of the variance transaction based on at least one of the record of variance transactions previously granted by the purchaser and the deviation from the preexisting master agreement, wherein the assessment of the variance transaction indicates one of an approval or a disapproval of the variance transaction;

providing the assessment of the variance transaction to the seller of the loan; and

purchasing the loan from the seller in the secondary mortgage market after the loan has closed if the assessment of the variance transaction indicates approval.

2. The method of claim 1, wherein generating the assessment of the variance transaction includes determining a variance transaction request reviewer.

3. The method of claim 2, further comprising generating a variance transaction report including variance transactions previously granted by the grantor.

4. The method of claim 1, wherein generating the assessment of the variance transaction includes providing a historical profile.

5. The method of claim 1, wherein generating the assessment of the variance transaction further includes retrieving information from a transaction request database based on the loan input data and incorporating the retrieved information in the assessment of the variance transaction.

6. The method of claim 5, wherein the loan input data further includes a transaction request originator and wherein generating the assessment of the variance transaction includes generating the transaction assessment of the variance transaction based on the transaction request originator.

7. The method of claim 6, wherein generating the assessment of the variance transaction based on the transaction request originator includes generating the assessment of the variance transaction based on a FICO score of the transaction request originator.

8. The method of claim 6, wherein generating the assessment of the variance transaction based on the transaction request originator includes generating the assessment of the variance transaction based on a value of assets held by the transaction request originator.