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Electronically negotiated asset securitization

  • US 8,818,891 B1
  • Filed: 08/22/2012
  • Issued: 08/26/2014
  • Est. Priority Date: 08/25/2011
  • Status: Active Grant
First Claim
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1. A computer implemented method for securitizing a loan against an asset comprising:

  • opening bidding using an electronic auction platform for a junior lienholder tranche (B tranche) for a first predetermined period of time;

    closing by the electronic auction platform bidding in the B tranche, wherein when the B tranche is fully subscribed the purchase price is established;

    opening bidding by the electronic auction platform in the A tranche for a second predetermined period of time;

    closing bidding in the A tranche by the electronic auction platform;

    wherein if the A tranche is not fully subscribed at closing;

    (i) reducing a size of the B tranche by a seller specifiable amount via an input to the electronic auction platform; and

    (ii) removing one or more bids of one or more investors in the B tranche that placed their bids last from the B tranche by the electronic auction platform, thereby shrinking a size of the B tranche and reducing the purchase price for the asset; and

    (iii) reopening bidding by the electronic auction platform in the (A) tranche using the reduced purchase price for the asset.

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