Patent ID: 8589272
Filing Date: 2013-11-19
Classification: G06Q

Abstract:
1. A method for facilitating the amending of loan terms, the method comprising the steps of: identifying a proposed amendment to terms of a loan, the loan having a loan amount, at least one borrower and a multiplicity of lenders, the multiplicity of lenders having respective funds invested in the loan, the proposed amendment having an agent and an amendment deadline; determining a voting threshold required to approve the proposed amendment, the voting threshold being expressed in the same units as, or as a percentage of, the loan amount; receiving fund registration data for one or more of the funds, the fund registration data for each fund including a respective fund holding amount, the fund holding amount for each respective fund being an amount invested in the loan by the respective fund; registering, in machine readable memory, a plurality of authorized users; recording, in machine readable memory, a user vote from one or more of the authorized users with regard to a respective fund, wherein each user vote is at least supporting, opposing or conditional; logging, in machine readable memory, a fund vote for each of a multiplicity of the funds for which fund registration data is received, wherein the fund vote for each respective fund is supporting, opposing, conditional or undecided with respect to the proposed amendment; making a vote count dataset electronically accessible to at least a subset of the registered authorized users, the vote count dataset including one or more of: calculating, by a processor element, an anticipated voting outcome for the proposed amendment, wherein the step of calculating converting all logged conditional fund votes to logged supporting fund votes if the step of calculating results in an indication that the proposed amendment is likely to pass; and providing the agent a fund consent for each fund having a logged supporting fund vote with regard to the proposed amendment.