Flexible commercial loan pool

• US 9,904,954 B2
• Filed: 03/14/2014
• Issued: 02/27/2018
• Est. Priority Date: 03/15/2013
• Status: Active Grant

• Current Assignee: Ten-X, LLC
• Original Assignee: Ten-X, LLC
• Inventors: O'Brien, Elizabeth, Harrity, Samuel
• Primary Examiner(s): Iwarere, Oluseye
• Application Number:
  US14/214,458
• Publication Number:
  US 20140297447A1
• Time in Patent Office: 1,446 Days
• Field of Search: 705 263, 705 35, 705 36 R, 705 37
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

Bidding activity is analyzed over a duration in which multiple bids are received in the auction. A bid increment is dynamically determined for the auction in response to auction activity. An online auction system can utilize the bid increment to determine or suggest the next bid that can be received in the auction for purpose of supplanting the current bid.

Claims

1. A computer-implemented method for conducting an online auction on an online auction forum, the method being implemented by a network system and comprising:

maintaining, by the network system for the online auction, a set of dynamically-modifiable objects, each including a pointer referencing a corresponding one of a set of data records, wherein each data record of the set of data records is associated with a respective asset for auction on an online auction forum, and wherein the set of data records is identified by the network system from a collection of data records stored in a database accessible to the network system based on one or more parameters;

during the online auction, detecting a change in status for a first data record of the set of data records, the first data record being referenced by a first pointer of a first dynamically-modifiable object of the set of dynamically-modifiable objects; and

in response to detecting in the change in status for the first data record, identifying, by the network system based on the one or more parameters, a second data record not referenced by pointers of the set of dynamically-modifiable objects and automatically updating the first dynamically-modifiable object by de-referencing the first pointer from the first data record and referencing the first pointer to the second data record.

2. The computer-implemented method of claim 1, further comprising:

generating a set of asset document pointers associated with the set of data records, each of the set of asset document pointers referencing one or more documents stored in the database.

3. The computer-implemented method of claim 1, further comprising receiving an instruction to update the one or more parameters.

4. The computer-implemented method of claim 1, wherein detecting the change in status for the first data record comprises:

receiving an instruction to remove the first data record from the set of data records.

5. The computer-implemented method of claim 2, further comprising:

in response to detecting in the change in status for the first data record, updating the set of asset document pointers.

6. The computer-implemented method of claim 2, further comprising:

enabling a bidder to access to the one or more documents stored in the database.

7. The computer-implemented method of claim 1, wherein detecting the change in status for the first data record comprises:

monitoring an availability of the first data record.

8. The computer-implemented method of claim 1, wherein detecting the change in status for first data record includes detecting that an asset corresponding to the first data record is no longer for sale.

9. The computer-implemented method of claim 1, further comprising:

enabling a seller to specify the one or more parameters.

10. The computer-implemented method of claim 1, further comprising recalculating at least one of the one or more parameters.

11. The computer-implemented method of claim 1, wherein the set of data records comprises a set of non-performing loans.

14. The computer-implemented method of claim 1, wherein the one or more parameters specify one or more of (i) a number of assets associated with the set of data records;

(ii) one or more types of assets;

(iii) a total value of the assets associated with the set of data records;

(iv) a per-item value;

or (v) a geographic location of assets associated with the set of data records.

12. A network system comprising:

one or more processors;

one or more memory resources storing instructions that, when executed by the one or more processors, cause the network system to;

maintain, for an online auction, a set of dynamically-modifiable objects, each including a pointer referencing a corresponding one of a set of data records, wherein each data record of the set of data records is associated with a respective asset for auction on an online auction forum, and wherein the set of data records is identified by the network system from a collection of data records stored in a database accessible to the network system based on one or more parameters;

during the online auction, detect a change in status for a first data record of the set of data records, the first data record being referenced by a first pointer of a first dynamically-modifiable object of the set of dynamically-modifiable objects; and

in response to detecting in the change in status for the first data record, identify, by the network system based on the one or more parameters, a second data record not referenced by pointers of the set of dynamically-modifiable objects and automatically update the first dynamically-modifiable object by de-referencing the first pointer from the first data record and referencing the first pointer to the second data record.

15. The network system of claim 12, wherein the one or more parameters specify one or more of (i) a number of assets associated with the set of data records;

(ii) one or more types of assets;

(iii) a total value of the assets associated with the set of data records;

(iv) a per-item value;

or (v) a geographic location of assets associated with the set of data records.

13. A non-transitory computer-readable medium storing instructions that, when executed by one or more processors of a network system, cause the network system to:

maintain, for an online auction, a set of dynamically-modifiable objects, each including a pointer referencing a corresponding one of a set of data records, wherein each data record of the set of data records is associated with a respective asset for auction on an online auction forum, and wherein the set of data records is identified by the network system from a collection of data records stored in a database accessible to the network system based on one or more parameters;

during the online auction, detect a change in status for a first data record of the set of data records, the first data record being referenced by a first pointer of a first dynamically-modifiable object of the set of dynamically-modifiable objects;

in response to detecting in the change in status for the first data record, identify, by the network system based on the one or more parameters, a second data record not referenced by pointers of the set of dynamically-modifiable objects and automatically update the first dynamically-modifiable object by de-referencing the first pointer from the first data record and referencing the first pointer to the second data record.

16. The non-transitory computer-readable medium of claim 13, wherein the one or more parameters specify one or more of (i) a number of assets associated with the set of data records;

(ii) one or more types of assets;

(iii) a total value of the assets associated with the set of data records;

(iv) a per-item value;

or (v) a geographic location of assets associated with the set of data records.