System and method for modifying attribute data pertaining to financial assets in a data processing system
First Claim
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1. A method comprising:
- maintaining, by a first computer system having a computer-implemented data storage system, attributes associated with an executed mortgage loan in the computer implemented data storage system, the first computer system being associated with a first entity that purchased rights in the executed mortgage loan in a secondary mortgage market as at least one of a mortgage purchaser, a mortgage investor, a mortgage guarantor, and a mortgage securitizer, includinggenerating, by the first computer system, a computer implemented record containing the attributes related to an executed mortgage loan;
receiving, by the first computer system, information representative of payments made in connection with the executed mortgage loan, the information being received from a second computer system associated with a second entity operating as a loan servicer of the executed mortgage loan, the first computer system and the second computer system being connected to each other by way of a computer network;
retrieving, by the first computer system, a record from the computer-implemented data storage system associated with the executed mortgage loan, wherein the record contains the attributes related to the executed mortgage loan;
receiving, by the first computer system, a non-periodic attribute modification request to modify at least one attribute associated with the retrieved record, the attribute modification request being received from the second computer system, the modification request being made based on a discrepancy between attribute data stored in the retrieved record and attribute data maintained by the loan servicer;
validating the non-periodic attribute modification request, including applying, by the first computer system, at least one computer implemented business rule to the non-periodic attribute modification request;
modifying, by the first computer system, the at least one attribute of the retrieved record in the computer-implemented data storage system based on the validation of the non-periodic attribute modification request; and
performing, by the first computer system, loan accounting operations for the mortgage loan based on the information representative of payments made in connection with the mortgage loan and the modification of the at least one attribute of the retrieved record in the computer implemented data storage system.
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Accused Products
Abstract
A processing system for modifying attributes of a plurality of loans is described. The processing system includes an attribute change processor for receiving and implementing a proposed change to an attribute of at least one of the plurality of loans and a loan pricing processor for generating a pricing value associated with the proposed change to the attribute of the at least one loan.
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Citations
22 Claims
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1. A method comprising:
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maintaining, by a first computer system having a computer-implemented data storage system, attributes associated with an executed mortgage loan in the computer implemented data storage system, the first computer system being associated with a first entity that purchased rights in the executed mortgage loan in a secondary mortgage market as at least one of a mortgage purchaser, a mortgage investor, a mortgage guarantor, and a mortgage securitizer, including generating, by the first computer system, a computer implemented record containing the attributes related to an executed mortgage loan; receiving, by the first computer system, information representative of payments made in connection with the executed mortgage loan, the information being received from a second computer system associated with a second entity operating as a loan servicer of the executed mortgage loan, the first computer system and the second computer system being connected to each other by way of a computer network; retrieving, by the first computer system, a record from the computer-implemented data storage system associated with the executed mortgage loan, wherein the record contains the attributes related to the executed mortgage loan; receiving, by the first computer system, a non-periodic attribute modification request to modify at least one attribute associated with the retrieved record, the attribute modification request being received from the second computer system, the modification request being made based on a discrepancy between attribute data stored in the retrieved record and attribute data maintained by the loan servicer; validating the non-periodic attribute modification request, including applying, by the first computer system, at least one computer implemented business rule to the non-periodic attribute modification request; modifying, by the first computer system, the at least one attribute of the retrieved record in the computer-implemented data storage system based on the validation of the non-periodic attribute modification request; and performing, by the first computer system, loan accounting operations for the mortgage loan based on the information representative of payments made in connection with the mortgage loan and the modification of the at least one attribute of the retrieved record in the computer implemented data storage system. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. A method comprising:
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maintaining, by a first computer system having a computer-implemented data storage system, attributes associated with an executed mortgage loan in the computer implemented data storage system, the first computer system being associated with a first entity that purchased rights the executed mortgage loan in a secondary mortgage market as at least one of a mortgage purchaser, a mortgage investor, a mortgage guarantor, and a mortgage securitizer, including generating, by the first computer system, a computer implemented record containing the attributes related to the executed mortgage loan; receiving, by the first computer system, information representative of payments made in connection with the executed mortgage loan, the information being received from a second computer system associated with a second entity operating as a loan servicer of the executed mortgage loan, the first computer system and the second computer system being connected to each other by way of a computer network; retrieving, by the first computer system, a record from the computer-implemented data storage system associated with the executed mortgage loan, wherein the record contains the attributes related to the executed mortgage loan; providing, by the first computer system, a computer-implemented graphical user interface to a loan servicer to allow the loan servicer to submit a non-periodic attribute modification request based on a change in loan attribute data maintained by the servicer; receiving, by the first computer system, a non-periodic attribute modification request to modify at least one attribute associated with the retrieved record, the attribute modification request being received from the second computer system, the modification request being made based on a discrepancy between attribute data stored in the retrieved record and attribute data maintained by the loan servicer; validating the non-periodic attribute modification request, including applying, by the first computer system, at least one computer implemented business rule to the non-periodic attribute modification request; modifying, by the first computer system, the at least one attribute of the retrieved record in the computer-implemented data storage system based on the validation of the non-periodic attribute modification request; performing, by the first computer system, loan accounting operations for the mortgage loan based on the information representative of payments made in connection with the mortgage loan and the modification of the at least one attribute of the retrieved record in the computer implemented data storage system; and determining, by the first computer system, distributions to one or more investors based on the modified attribute and the information representative of mortgage loan payments. - View Dependent Claims (14, 15, 16, 17)
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18. A method comprising:
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defining a type of loan product, wherein different types of loan products are defined using different combinations of the plurality of attributes and/or different values for selected ones of the plurality of attributes; and maintaining, by a first computer system having a computer-implemented data storage system, the attributes associated with an executed mortgage loan in the computer implemented data storage system, the executed mortgage loan having the attributes and the values for the attributes of the defined type of mortgage product, the first computer system being associated with a first entity that purchased rights the executed mortgage loan in a secondary mortgage market as at least one of a mortgage purchaser, a mortgage investor, a mortgage guarantor, and a mortgage securitizer, including generating, by the first computer system, a computer implemented record containing the attributes related to the executed mortgage loan; receiving, by the first computer system, information representative of payments made in connection with the executed mortgage loan, the information being received from a second computer system associated with a second entity operating as a loan servicer of the executed mortgage loan, the first computer system and the second computer system being connected to each other by way of a computer network; retrieving, by the first computer system, a record from the computer-implemented data storage system associated with the executed mortgage loan, wherein the record contains the attributes related to the executed mortgage loan; providing, by the first computer system, a computer-implemented graphical user interface to a loan servicer to allow the loan servicer to submit a non-periodic attribute modification request based on a change in loan attribute data maintained by the servicer; receiving, by the first computer system, a non-periodic attribute modification request to modify at least one attribute associated with the retrieved record, the attribute modification request being received from the second computer system, the modification request being made based on a discrepancy between attribute data stored in the retrieved record and attribute data maintained by the loan servicer; validating the non-periodic attribute modification request, including applying, by the first computer system, at least one computer implemented business rule to the non-periodic attribute modification request; modifying, by the first computer system, the at least one attribute of the retrieved record in the computer-implemented data storage system based on the validation of the non-periodic attribute modification request; performing, by the first computer system, loan accounting operations for the mortgage loan based on the information representative of payments made in connection with the mortgage loan and the modification of the at least one attribute of the retrieved record in the computer implemented data storage system. - View Dependent Claims (19, 20, 21, 22)
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Specification