Patent ID: 7593893
Filing Date: 2009-09-22
Classification: G06Q

Abstract:
1. Computer hardware system comprising: a processor; and a storage unit accessible by the processor and having physically-embodied computer program elements, the computer program elements being executed by the processor to implement a process for identifying and pricing a mortgage loan that meets a predetermined business objective of a mortgage market participant, the process comprising: receiving loan application data for the mortgage loan via a user interface of the online computer network, the user interface being implemented by the computer program elements executed by the processor, the loan application data including financial information regarding a borrower including an income of the borrower; storing the loan application data in the database, including storing the financial information regarding the borrower and the income of the borrower in the database; determining a market-based interest rate for the mortgage loan using a pricing engine, the pricing engine being implemented by the computer program elements executed by the processor; determining whether the mortgage loan is a business objective mortgage loan by comparing the loan application data stored in the database to the set of loan characteristics for the at least one business objective, including for each of the first plurality of mortgage loans, responsive to determining that the mortgage loan is a business objective mortgage loan, (i) determining a business objective pricing component based on the business objective pricing table, (ii) allocating the business objective pricing component to at least one of a lender, a broker or a borrower based on the set of business objective pricing rules, (iii) adjusting the interest rate based on the business objective pricing component, and (iv) purchasing the mortgage loan at a price determined based on the adjusted interest rate; for each of the first plurality of mortgage loans, responsive to determining that the mortgage loan is not a business objective mortgage loan, purchasing the mortgage loan at a price determined based on the market-based interest rate; wherein the mortgage market participant is one of a lender or a secondary mortgage market participant; and wherein the business objective is at least one of a HUD housing goals business objective and a Community Redevelopment Act (CRA) business objective.