Abstract: The invention provides a method and system capable of automatic loan approval, in which lenders can both provide information to brokers regarding their loan policies, and in which brokers can obtain information regarding likely lender treatment of prospective borrowers. Thus, brokers search a database of possible loan programs made available by lenders, rather than lenders searching a database of possible loans made available by brokers.
Abstract: The invention provides a method and system capable of automatic loan approval, in which lenders can both provide information to brokers regarding their loan policies, and in which brokers can obtain information regarding likely lender treatment of prospective borrowers. Thus, brokers search a database of possible loan programs made available by lenders, rather than lenders searching a database of possible loans made available by brokers.
Abstract: The invention provides a method and system for trading loans in real time. Loan applications, such as home mortgage loan applications, are made available electronically to receive bids from a plurality of potential lenders. A transaction server maintains a database of pending loan applications and their statuses, which is accessible over a communications channel, such as the Internet. Each party to a loan can search and modify the database consistent with their role in a transaction. The invention provides smart computerized administration that ensures personal preferences of the participating parties are enforced, errors and duplication is avoided, and information relating to accumulated data is available to the parties consistent with their roles.
Type:
Application
Filed:
July 16, 2009
Publication date:
January 28, 2010
Applicant:
IMX, INC.
Inventors:
Stephen K. Fraser, Sadashiv Adiga, Suresh Payankannur
Abstract: The invention provides a method and system for trading loans in real time. Loan applications, such as home mortgage loan applications, are made available electronically to receive bids from a plurality of potential lenders. A transaction server maintains a database of pending loan applications and their statuses, which is accessible over a communications channel, such as the Internet. Each party to a loan can search and modify the database consistent with their role in a transaction. The invention provides smart computerized administration that ensures personal preferences of the participating parties are enforced, errors and duplication is avoided, and information relating to accumulated data is available to the parties consistent with their roles.
Type:
Application
Filed:
July 16, 2009
Publication date:
January 28, 2010
Applicant:
IMX, INC.
Inventors:
Stephen K. Fraser, Sadashiv Adiga, Suresh Payankannur