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Integrated electronic credit application, contracting and securitization system and method

  • US 9,378,525 B2
  • Filed: 07/31/2004
  • Issued: 06/28/2016
  • Est. Priority Date: 07/31/2003
  • Status: Active Grant
First Claim
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1. An integrated electronic credit application, contracting and securitization system comprising:

  • a network device for receiving a credit application from an applicant utilizing at least one remote application input and display device at a dealer location;

    a processor configured for selectively forwarding said credit application to a plurality of funding sources and for receiving a funding decision from the plurality of funding sources;

    a server for providing an electronic contract between at least said applicant and a selected one of said plurality of funding sources using at least some information from said credit application; and

    a hosted vault for storing, retrieving and maintaining the integrity of said electronic contract by digitally signing, encrypting and programmatically embedding an approval token in said electronic contract, thereby providing irrevocable proof of the authenticity of said electronic contract,wherein the approval token comprises audit information and other data related to the applicant.

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