Patent ID: 7809633
Filing Date: 2010-10-05
Classification: G06Q

Abstract:
1. A method for generating a cash purchase price for one or more loans sold by a seller to a purchaser in accordance with an agreement, the method comprising: providing a computer-implemented user interface to the seller; providing a computer database coupled to the computer-implemented user interface and configured to store a plurality of authorization profiles, each authorization profile, including a user identifier and agreement data for an agreement associated with the user identifier and governing purchases of existing loans in the secondary mortgage market, defining the extent and type of access the user is given to the computer database and the types of operations that the user may perform while accessing the computer database; receiving a user identifier associated with the seller via the computer-implemented user interface; verifying the identity of the seller associated with the user identifier against the authorization profile and providing the seller access to the agreement data associated with the user identifier; receiving an agreement identifier associated with the agreement; retrieving the agreement data using the agreement identifier, wherein the agreement data includes a standard interest rate price component, a standard credit risk price component, a standard loan profile, a standard borrower credit profile, and a seller-based price reduction applicable to all secondary mortgage market loan purchases under the agreement, including purchases of loans made to different borrowers; receiving loan data associated with each of the one or more loans to be sold by the seller to the purchaser under the agreement; generating a computer, an interest rate price for each of the one or more loans based upon at least: utilizing the loan data for each of the one or more loans and the standard loan profile to generate a set of variances from the standard loan profile for each of the one or more loans, wherein the standard loan profile includes at least loan term data, loan type data, and residence type data; utilizing the loan data for each of the one or more loans and the standard credit risk profile to generate a set of variances from the standard borrower credit profile for each of the one or more loans, wherein the standard borrower credit profile includes at least open accounts data, derogatory accounts data, and undisclosed accounts data; generating, by the computer, a credit risk price for each loan based upon at least: generating the computer, the cash purchase price for each of the one or more loans based on the interest rate price and the credit risk price; and displaying the cash purchase price for each of the one or more loans to the seller using the computer-implemented user interface, wherein generating the interest rate price, the credit risk price, and the cash purchase price for each loan includes using at least one computer-implemented business rule configured to determine the respective prices based upon at least the loan attributes and the borrower attributes; and wherein the method is performed by a participant in the secondary mortgage market.