Patent ID: 8606691
Filing Date: 2013-12-10
Classification: G06Q

Abstract:
1. A method for determining the purchase eligibility of a financial product such as a loan, the method implemented by a financial product processing device, the method comprising: electronically receiving in a processor of the financial product processing device a data representation of the loan, said data representation containing a plurality of attributes; electronically classifying in the processor of the financial product processing device the data representation of the loan according to an ontological model into one or more classification types, wherein the ontological model represents a hierarchical organization of a plurality of classification types and each classification type corresponds to one or more of the attributes of the data representation and represents a term of business in a master agreement or a negotiated agreement; electronically assigning in the processor of the financial product processing device a marker to each of the identified classification types, wherein each marker indicates whether the loan meets an allowed value or range corresponding to the attributes represented by the classification type, the allowed value or range being defined in the master agreement or the negotiated agreement; electronically applying one or more decision rules in the processor of the financial product processing device, each having at least one condition to the assigned markers to identify the loan as eligible for purchase when the markers meet the conditions of the decision rules; and associating and storing the classification types, terms of business associated with an investment decision for the loan, and criteria used to determine eligibility or ineligibility for the loan, with a record of the loan.