System and method for processing data pertaining to financial assets
First Claim
1. A computer-implemented data processing system for processing loan data for a plurality of loans, the data processing system comprising:
- a data storage system configured to store loan data for the plurality of loans;
a user interface including one or more web pages configured to enable a servicer using a remote computing system to transfer loan data over the Internet to and from the data processing system, the user interface includinga loan activity processing function configured to receive servicer loan data including loan activity data from the servicer when a loan payment activity occurs, the servicer loan activity data comprising data regarding payments received from borrowers and how the payments are to be applied towards paying unpaid principal, interest and fees associated with the plurality of loans,a trial balance processing function configured to enable the servicer to submit the servicer loan data for comparison with the stored loan data to check consistency between the servicer loan data and the stored loan data regarding the occurred loan payment activity, and to provide results of the comparison to the servicer, wherein loan data being compared comprises interest rate and current unpaid principal balance, anda loan level browsing function configured to allow the servicer to view stored loan data and the results of the comparison; and
loan process and compare logic, includingan amortization/calculation processor configured to perform validation calculations on the servicer loan data regarding the occurred loan payment activity based on the stored loan data,a loan activity processor configured toprocess the servicer loan activity data,validate the servicer loan activity data based on the stored loan data, and update the stored loan data based on the servicer loan activity data, wherein the validation of the servicer loan activity data comprises performing validation calculation based on the stored loan data and business rules regarding how the payments received from the borrowers are to be applied towards paying unpaid principal, interest and fees associated with the plurality of loans, anda trial balance processor configured to compare the servicer loan data with the stored loan data.
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Accused Products
Abstract
A data processing system for processing loan data for a plurality of loans including a data storage system configured to store loan data for the plurality of loans and a user interface including one or more web pages configured to enable a servicer using a remote computing system to transfer loan data over the Internet to and from the data processing system. The user interface includes a loan activity processing function configured to receive servicer loan data including loan activity data from the servicer, a trial balance processing function configured to enable the servicer to submit servicer loan data for comparison with the stored loan data, and a loan level browsing function configured to allow the servicer to view stored loan data. The data processing system further includes loan process and compare logic which includes an amortization/calculation processor configured to perform validation calculations on servicer loan data based on stored loan data, a loan activity processor configured to process the loan activity data, validate the loan activity data based on the stored loan data, and update the stored loan data based on the loan activity data. The loan process and compare logic further includes a trial balance processor configured to compare servicer loan data with stored loan data.
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Citations
29 Claims
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1. A computer-implemented data processing system for processing loan data for a plurality of loans, the data processing system comprising:
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a data storage system configured to store loan data for the plurality of loans; a user interface including one or more web pages configured to enable a servicer using a remote computing system to transfer loan data over the Internet to and from the data processing system, the user interface including a loan activity processing function configured to receive servicer loan data including loan activity data from the servicer when a loan payment activity occurs, the servicer loan activity data comprising data regarding payments received from borrowers and how the payments are to be applied towards paying unpaid principal, interest and fees associated with the plurality of loans, a trial balance processing function configured to enable the servicer to submit the servicer loan data for comparison with the stored loan data to check consistency between the servicer loan data and the stored loan data regarding the occurred loan payment activity, and to provide results of the comparison to the servicer, wherein loan data being compared comprises interest rate and current unpaid principal balance, and a loan level browsing function configured to allow the servicer to view stored loan data and the results of the comparison; and loan process and compare logic, including an amortization/calculation processor configured to perform validation calculations on the servicer loan data regarding the occurred loan payment activity based on the stored loan data, a loan activity processor configured to process the servicer loan activity data, validate the servicer loan activity data based on the stored loan data, and update the stored loan data based on the servicer loan activity data, wherein the validation of the servicer loan activity data comprises performing validation calculation based on the stored loan data and business rules regarding how the payments received from the borrowers are to be applied towards paying unpaid principal, interest and fees associated with the plurality of loans, and a trial balance processor configured to compare the servicer loan data with the stored loan data. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 24, 25, 26)
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14. A computer-implemented data processing system comprising:
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a data storage system configured to store loan data for mortgage loans; and user interface logic configured to implement a user interface, the user interface comprising one or more web pages configured to allow a servicer to perform functions implemented by a data processing system for processing the loans, the functions including a loan activity processing function configured to enable a servicer to provide servicer loan data including servicer loan activity data to be processed by the data processing system when a loan payment activity occurs, the servicer loan activity data comprising data regarding payments received from borrowers and how the payments are to be applied towards paying unpaid principal, interest and fees associated with the plurality of loans, a trial balance processing function configured to enable the servicer to compare the servicer loan activity data with loan data stored in the data storage system to check consistency between the servicer loan data and the stored loan data regarding the occurred loan payment activity, including to compare interest rate, unpaid principal balance and how the payments received from the borrowers are to be applied towards paying unpaid principal, interest and fees associated with the plurality of loans, and to provide results of the comparison to the servicer, an exception handling function configured to enable a servicer to access and respond to exceptions generated by the data processing system, and a loan level browsing function configured to enable a servicer to view the results of the comparison and to browse and download loan data stored on the data processing system and associated with the servicer. - View Dependent Claims (15, 16, 17, 18, 19, 20, 21, 22, 23, 27, 28, 29)
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Specification