Patent Abstract:
A system and method for use by a business entity for loan origination and underwriting in connection with real estate investment using a computer implemented application having a plurality of data input and dialog screens requiring one-time entry of data. The method includes steps to be followed in any sequence by one or more users of the business entity for using the system. The method includes inputting and storing loan origination information via data input screens, the information including financial and physical information relating to a specific real estate investment. The input loan origination information is dynamically compared with pre-determined rules and a dialog screen is displayed on a near real-time basis if any of said rules are violated. The input data is dynamically compared with other rules for determining the ongoing sequence of data input and dialog screens. Comparison with other rules results in the calculation of calculated values and automatically generated dialog text, some of which is automatically populated 15 in word processing documents, an automated loan request and a credit application. The system includes both manual and automatic input of market data quantitatively describing the real estate market associated with the property, as well as multimedia data describing the property and the region surrounding the property. A report representing all of the stored input and calculated values are automatically produced in both paper and electronic form suitable for loan origination and underwriting.

Full Description:
BACKGROUND OF THE INVENTION  
       [0001]     The present invention relates generally to the documentation and evaluation of real estate investments, and more particularly, to automated real estate loan origination and underwriting processes from initial customer contact to commitment.  
         [0002]     Methods for documentation and evaluation of real estate loan applications are well known in the investment industry, however, the specific sequence of steps directed toward preparation of the substantial necessary documentation and chosen method of analysis of the financial parameters are a matter of choice. For commercial and industrial real estate investment, the volume of supporting documentation and analysis is substantial, as are the dollar amounts and investment risk. Furthermore, consistency of such procedures and expeditious processing is important. To this end, proprietary computer applications have been developed by individual business entities, which automate individual aspects of the loan preparation, evaluation and authorization process.  
         [0003]     In some cases, investment deals are compiled by business entity personnel who may be geographically distant from the central office, and possibly philosophically distant from the entity&#39;s investment policy and standards. Equally important, is early scrutiny of certain deal parameters against threshold parameters which serve to exclude potential real estate deals that fall outside the interests of the business entity. Consequently, the cost of compiling pertinent data and executing an appropriate and effective analysis of the data is an important factor. This is especially true for a business entity that conducts such transactions on a routine basis.  
         [0004]     Computer applications directed toward compiling information about real estate property are known. For example, U.S. Pat. No. 5,794,216 describes an application program executed by a computer that includes a database containing multimedia information for each property, including images of the property, and database-stored parameters corresponding to portions of the image. The multimedia information includes market data and images of the property and neighboring circumstances.  
         [0005]     Computer applications directed toward evaluating real estate are also known. For example, U.S. Pat. No. 5,680,305 describes a computer application that provides a method for evaluating real estate for use by a business entity. The application provides for storage of property description data, usage data, such as rental financial history, and other factors. A numerical “utilization indicator” is determined from these parameters, and after further processing, a “score” is developed, which represents a quantitative evaluation of the real estate property.  
         [0006]     U.S. Pat. No. 5,966,699 describes a method for conducting electronic auctions of loan applications. In this method, a computer system connected to the Internet or other network electronically communicates “electronic” loan application forms from a prospective borrower to a loan authorizer, who maintains viable applications in a database, for subsequent electronic communication to one or more loan institutions for quotations.  
         [0007]     Therefore, a data acquisition computer program is required for compiling loan origination information including financial and physical information relating to a specific property and multimedia real estate market information associated with the property, together with a credit request and 20 loan application. The architecture of the computer program needs to be configured so as to provide consistency of processing among a variety of potential users through use of embedded choices, rules and financial models. The application should require only one-time entry of data in a non-linear sequence of data input screens, and should auto-populate documents with input data and generated values wherever appropriate. The system should be capable of electronically communicating loan documents to business entity personnel at any point during the document preparation process.  
       BRIEF SUMMARY OF THE INVENTION  
       [0008]     The system and method according to the present invention employs a tool in the form of a personal computer application that automates the real estate loan origination and underwriting process for use by a business entity. The method of the present invention includes steps to be followed by one or more members of the business entity, as well as automated processes within the computer application. Some of the method steps are optional, and advantageously, all of the steps can be followed in any sequence.  
         [0009]     While any of the steps of the method could be taken first, logically, and for purposes of description, the first described step of the method of the present invention is the step of storing in the computer application the basics of the real estate loan application, or “deal”, including property location, property metrics, estimated risks, loan terms and other loan and borrower details, by input of such values on one or more input screens. The next series of steps include data entry into a number of subsequent screens, in any order. Some of the subsequent screens test data inputs against pre-stored rules and based on the results of the tests, display information and commentary. The pre-stored rules are defined according to underwriting and pricing guidelines acceptable to the business entity. Other screens auto-populate certain fields with calculated results obtained by analysis of debt and equity data, using known financial models.  
         [0010]     The system makes available to the user a set of computer screens presented in a generally non-linear sequence. The particular sequence of presentation is arranged to be under user control while at the same time, the sequence is also responsive on a real-time basis to the input data. In this way, the sequence of screens displayed for any given deal dynamically vary, depending on data entry.  
         [0011]     Advantageously, in another step of the method, the system makes available to the user word processing-based documents, such as a loan application and credit request, which have been pre-formatted and auto-populated by the system with both input data and calculated data. In the preferred embodiment, the user initiates a one-way link (accomplished automatically by system utilization of known Windows-based, dynamic links) between the application and the word processing application present on the same computer as the system of the present invention.  
         [0012]     For example, in the preferred embodiment, a “Key Metrics” portion arranged to appear within either a credit request or preliminary loan application is generated, in which selected financial data, such as profitability values such as investor rate of return (IRR), return on investment (ROI), net operating income (NOI), loan structure values, and performance calculations, are arranged in a standard format. These documents are available for editing by one or more members of the business entity, for example, by including paragraphs of text commentary and description. These documents become part of the overall loan origination package made available for subsequent evaluation internal to the business entity and quotation by financial institutions.  
         [0013]     The system takes advantage of intranet and Internet connectivity to enable collaborative data input and evaluation among potentially geographically disparate users. Accordingly, in another optional step of the method, a user can instruct the system to initiate a network communication with other members of the business entity regarding a particular loan application. Optionally, the system can be instructed to copy selected data screens to a server storage location and automatically populate an email message with either attached data screens or hyperlinks to the storage location of the data screens.  
         [0014]     Other steps of the method of the present invention include accessing the remaining data input screens of the system. It is expected that an implementation of the present invention includes screens tailored to the needs of the business entity, and therefore specific screens and screen contents will vary, depending on the needs and preferences of the business entity. As a non-limiting example, additional screens include a “Loan” screen for input of loan-related data, a “Cash Flow/Evaluation” screen, which includes various income/expense-related sub-screens, a “Deal Recap” screen, which summarizes the deal, based on all subsisting data, a “Market” screen which provide for input of the results of an analysis of the market associated with the property to be financed, and an “Asset” screen, which provides for input of the physical features of the property. In some cases, the system provides commentary dynamically responsive to the input.  
         [0015]     Also included in the preferred embodiment is an “Execution” screen, which provides for input of subjective information characterizing the borrower in terms such as, for example, property experience, market experience, financial wherewithal, and forecasted reaction to adverse conditions, including specified types of litigation and criminal activity.  
         [0016]     A “Deal Analysis” screen is included, which dynamically adjusts to the input data and calculated values, thereby providing a summary listing of attributes Advantageously, this screen displays in a single location, the rules/guidelines which have been activated as a result of data input. Also included are “Loan Application” and “Credit Request” screens, in which pertinent data is input and organized into final form for processing. An “Execution” screen is included, which provides input of subjective information characterizing the borrower in terms such as, for example, property experience, market experience, financial wherewithal, and forecasted reaction to adverse conditions, including specified types of litigation and criminal activity.  
         [0017]     A work pad screen taking the form of a spreadsheet, is provided for general use. An “Image” screen is provided, in which images captured by known Microsoft Windows-based methods, or the equivalent, can be added, deleted, arranged and reviewed. Typically, imaged maps and photographs of the site are included as input to the Image screen.  
         [0018]     The result of operation of the steps of the system and method of the present invention is the compilation of information that is input, screened and edited by one or more team members having expertise pertinent to individual data types. This compilation includes calculated values obtained by execution of algorithms, i.e., financial models, that analyze debt and equity investments. Also included are multimedia files, such as imaged maps and photographs of the property and surrounding geographic area. This compilation is automatically arranged in any desirable output format, including a loan origination package made available for subsequent evaluation internal to the business entity and, as desired, quotation by financial institutions. Other automated outputs are possible, such as, for example, a loan request. 
     
    
     BRIEF DESCRIPTION OF THE DRAWINGS  
       [0019]      FIG. 1  is a simplified block diagram of an overall computing environment including a computer system  10  of the present invention;  
         [0020]      FIG. 2  illustrates an example of a “Screen Deal” input screen for entering basic data, according to the present invention;  
         [0021]      FIG. 3  illustrates an example “Property Cash Flow” input screen, according to the present invention;  
         [0022]      FIG. 4  illustrates an example “Loan” input screen, according to the present invention;  
         [0023]      FIG. 5  illustrates an example “Cash Flow/Valuation” input screen, according to the present invention;  
         [0024]      FIG. 6  illustrates an example “Deal Recap” input screen, according to the present invention;  
         [0025]      FIG. 7  illustrates an example “Asset” input screen, according to the present invention;  
         [0026]      FIG. 8  illustrates an example “Market” input screen, according to the present invention;  
         [0027]      FIG. 9  illustrates an example “Execution” input screen, according to the present invention;  
         [0028]      FIG. 10  illustrates and example “Environmental Issues”, input screen according to the present invention;  
         [0029]      FIG. 11  illustrates an example “Deal Analysis” input screen, according to the present invention;  
         [0030]      FIG. 12  illustrates an example “Loan Application” input screen, according to the present invention;  
         [0031]      FIG. 13  illustrates an example “Images” input screen, according to the present invention. 
     
    
     DETAILED DESCRIPTION OF THE INVENTION  
       [0032]     Embodiments of the present invention include a data acquisition computer program for compiling loan origination information including financial and physical information relating to a specific property and the real estate market associated with the property, together with a credit request and loan application, other outputs as desired, and steps of a method for using the program. The architecture of the computer program, or application, is configured to provide the benefit of consistency of processing among a variety of potential users, in some cases through ample use of embedded menus, from which the user makes an informed selection among fixed choices for a given data field. Rules imbedded within the application and associated with one or more data input fields automatically operate to assist the user in compiling a data conforming to standards and policies of the business entity. Similarly, use of known fixed financial models, although optionally, a choice among models can be provided, further contributes to consistency of loan origination and underwriting. The application is configured so that specific data entries are made only once by the user, leaving to the application the task of populating copies of that input data into other fields, as necessary.  
         [0033]     Importantly, as a result of the non-linear flow of the data input screens, input can be made at the convenience of each user, and is not system-driven. Moreover, emphasis on network-connectivity among users and interested parties, enables conveyance of early (partially complete) versions of a particular compilation of data describing pertinent real estate market demographics, the physical, financial, and usage data relating to a specific real estate property, together with loan and credit applications, collectively referred to as a “deal”, to business entity personnel who, in other loan originating arrangements, might be the last, or nearly the last to review the deal. Such early scrutiny has been shown to be very effective in forestalling deals which fall outside the standards or interests of the business entity. It has been recognized that input from such individuals helps to formulate the initial version of the deal and avoid unnecessary delay resulting from re-writes.  
         [0034]      FIG. 1  is a simplified block diagram of an overall computing environment including a computer system  10  of the present invention, including at least one computer  12 , which preferably is a personal computer, and a plurality of computer applications arranged to operate in computer  12 . Computer system  10  is arranged to cooperatively connect to external data sources  13  over a network. External sources  13  include data sources arranged to make data available upon demand over an intranet ( 14 ), or the Internet ( 15 ), as applicable. Computer  12  is arranged to operate both independently of, and connected to, network  14 , 15 , which optionally, can be an intranet or the Internet. Computer  12  is also arranged to operate a plurality of applications, including at least one desktop application  16  directed to loan origination and underwriting, written in a suitable programming language, such as, for example, the Delphi (trademark of InPrise Corporation) programming language, a spreadsheet application  18 , such as, for example, Excel (trademark of Microsoft Corporation), a word processing application  20 , such as, for example, Word (trademark of Microsoft Corporation), an optional database application  22 , such as, for example, Access (trademark of Microsoft Corporation), an internet browser application  24 , such as, for example Internet Explorer (trademark of Microsoft Corporation), and other applications, as appropriate.  
         [0035]     In an alternative embodiment, a database application running on a central sever is arranged to capture and archive summary information or file copies for general use within the business entity, or to facilitate collaboration. Personal computers  11  suitably network-connected to computer  12  enable other members of the business entity to communicate with the user of computer  12 . In the preferred embodiment, computers  11  and  12  are configured to be interconnected upon demand, via intranet  14  and also by corporate LAN/WAN networks (not shown). Such communication includes electronic mail. Optionally, at least one of personal computers  11  is a server configured and arranged to perform known server functions, including storage of data files, and operation of web-related applications for communicating stored data to users via intranet and internet connections.  
         [0036]     The desktop application  16  is configured and arranged to include local user input  27 , i.e., data entered by a user at the personal computer on which application  16  is running. Local user input  27  is verified against a set of pre-determined input rules  21  resident in application  16 . Input rules  21  are automatically activated by application  16  upon data entry by the user, and are configured to screen input for typographical errors and logical errors. Remote user input  28 , i.e., data communicated over a suitable network from other business entity personnel is communicated to the local user generally in the form of email and optionally, via documents attached to email. The local user transfers this information, as appropriate, as data input  27  to the application. Similarly, the local user accesses commercial sources  29  external to the business entity, and initiates data transfer to application  16 .  
         [0037]     A desirable operating system  26  is Windows (trademark of Microsoft Corporation), OS/2 (trademark of IBM Corporation), or any such other operating system that supports the use of an extended memory, a DLL loading function, and a virtual storage, multi-window GUI environment.  
         [0038]      FIG. 2  illustrates, but not by way of limitation, an example arrangement of a computer input screen  50  for entering basic data pertaining to a request for a loan in connection with a specific real estate property. The example input screen  50  titled “Screen Deal”, is one of a series of input and informational screens comprising the system  10  of present invention. The data input from all of these screens is stored in the database application  22  linked to desktop application  16 . System  10  includes a computational program that is configured to perform arithmetic calculations and comparisons of the input data. The computed results are also stored in the database application  22 . In the preferred embodiment the database application and computational program is a commercially available spreadsheet application  18 .  
         [0039]     System  10 , in the preferred embodiment, is configured and arranged to automatically populate one or more associated spreadsheets by way of a data input and display application including data input screens such as screen  50  and other screens to be described. Also, informational screens are provided, which generally reflect calculated results of data entered into the associated spreadsheet, and may pose summaries, questions or 25 warnings to the user, based on subsisting input data. Return On Investment (ROI), Internal Rate of Return (IRR) and Net Income are displayed at the top of every screen, and represent the deal&#39;s (either debt or equity) profitability. These values are constantly updated as the user provides information into the system. In a separate embodiment, system  10  also populates selected input  30  and calculated values into a database associated with a commercially available database application that is dynamically linked with the input and display application, and is a part of, system  10 .  
         [0040]     Screen Deal input screen  50  includes several features that advantageously appear on all screens of the present invention. Generally, included is a display of any set of icons, which, upon user selection using known Windows techniques, direct system  10  to display a corresponding, respective screen. For example, in the preferred embodiment, button icon channels  52 , called “channels” for convenience, are displayed on the left side of screen  50 , which direct system  10  to display screens corresponding to each major screen or suite of screens, described below. As a result, the user can conveniently navigate randomly from any particular screen to any other screen by known Windows navigation techniques.  
         [0041]     Additional features in common with all screens of system  10  include functional pull-down menus  54 , which also are a known feature of Windows applications. These pull-down menus are screen-specific and offer functionality tailored to the currently displayed screen. For example, in the preferred embodiment, the pull-down menus labeled “File”, “Edit”, “Online”, “Activities”, and “Help”, appear at the top of screen  50 .  
         [0042]     Other features in common with all screens of system  10  include guideline warnings representing rule violations, which are displayed throughout the application, as well as being summarized in a “Deal Analysis” channel. Guideline warnings are displayed as appropriate, based on system logic, which responds to both input data as well as calculated values.  
         [0043]     The screens of system  10  optionally are suites of screens corresponding to the channels  52 . For a given channel, a corresponding suite of screens are identified by tab icons  56  near the top of the input area of each screen. These tabs enable the user to switch among members of the suite. Any set of input or informational screens sufficient to display pertinent fields can be included. For example, in the preferred embodiment, Screen Deal suite of screens  50  includes “General Information”, “Programs” and “Property Cash Flow” tabs and corresponding screens, described below. Inclusion of such screens in the design of the system  10  is based both on the need for input data, as well as providing direction to the system, based on the data input. For example, in the preferred embodiment, the “Programs” tab provides a screen that offers a selection of programs to the user, each program being arranged to employ a respective financial model to be used for debt and equity analysis. Moreover, the content and availability of other screens is dynamically determined according to specific data entered on any given screen, as described further, below. This process comprises automatic application of a set of pre-determined rules  23 , stored within application  16 , as data fields are entered.  
         [0044]      FIG. 2  also shows an example “General Information” screen  51 , indicated by a tab  58  of the same name. This screen includes data input fields labeled according to the data type intended for input. Each field is connected to an associated spreadsheet and the input data is made available for subsequent computation, as described below. Specific computations are effected by application of pre-determined computation rules  25 , which are part of application  16 . Although screen  50  can include any number of appropriate input fields describing the property, risk, and loan terms, as understood in the loan origination industry, the preferred embodiment includes general information fields  59  describing the Property Location, Property Type, metrics such as Size and Year Built. For example, one selection of industry-standard input fields relating to risk  60  includes Estimated Risk Values, including Asset Risk, Market Risk, and Execution Risk. Still other input fields relating to loan terms  61 , including requested loan amount, requested term, interest rate type, loan purpose, and purchase price, input fields relating to borrower cash and capital needs. Screen  50  is arranged to display a Calculated Overall Risk Value  63  based on the estimated risk values  61 . Any field, such as “Loan Purpose”  57 , can have an associated pull-down menu of choices, the selection of which results in auto-population of the corresponding input field. Advantageously, restriction to a selection from a fixed menu of choices achieves consistency among users.  
         [0045]      FIG. 3  illustrates an example “Property Cash Flow” arrangement  62 , obtained when the user selects tab  64  labeled “Property Cash Flow” from tabs  56  located near the top of Screen Deal  50 . In the preferred embodiment, inputs made to screen arrangement  62  are incorporated into calculations made by an attached spreadsheet. Icon buttons  70  revealing pop-up worksheets such as, for example, “Average Economic Occupancy Growth”, “Rental Growth” and “Other Growth” are located adjacent pertinent input fields on screen  62 , so that tabular input of growth data corresponding to, for example, six years of experience, can be entered by the user onto respective worksheets, calculated and returned as a calculated result, which is available for manual or optionally, automatic input into the appropriate field in screen  62 . In addition, other economics data input fields  71  include a “Effective Gross Income” value, a “Net Operating Income” value and a “Cash Flow After Reserves” value. In addition, detailed operating expense input fields  72  and tenant improvement costs and leasing commission values are input in screen  62 . Advantageously, a tenant improvement and leasing commission 5 calculator is provided in the form of a pop-up window for the convenience of the user. This calculator provides a window formatted to receive this data, and calculates sums of the data input. Provision is made for input of multiple years of expense values, which are made available for subsequent computation and display, as necessary.  
         [0046]      FIG. 3  also includes a “Programs” tab  73 , the selection of which instructs system  10  to display a screen (not shown) including selectable program options. In instances in which the business entity uses more than one “program” of threshold values for selected parameters, thus screen offers a selection button associated with each program option. Preferably, the choice of options that are displayed is dynamically dependent on subsisting data entered into the application. The user selection of a program results in a respective arrangement of automatically populated values into all pertinent data fields. Each program of thresholds and associated preferences are determined by the business entity.  
         [0047]      FIG. 4  illustrates an example suite of loan screens which are obtained through user selection of icon button channel  74 , labeled “Loans”, from channels  52 , which are visible on every screen presented by system  10 . In the preferred embodiment, selection of “Loan” button  74  instructs system  10  to display the first of the suite of screens, each titled “Loans”, wherein each screen is further identified by a tab including a descriptive sub-title. User selection of the “General Terms” tab  75  instructs system  10  to display the corresponding screen. Optionally, other tabs, which can be selected in any order, indicating additional screens related to “loans”, are displayed near the top of the screen  
         [0048]     Advantageously, if the deal is an equity deal, as determined by selection of “Equity Deal Type” on the General Information screen of the Screen Deal suite of screens, then the suite of loan screens is replaced with a Deal Structure suite of screens (not shown). Deal Structure screens include data input fields characteristic of equity deal types, and are comparable to the 35 suite of loan screens. In addition, the Loan Application and Credit Request suites of screens are also changed to be reflective of the information/structure needs of an equity transaction.  
         [0049]     In the preferred embodiment, with the general terms screen  75  displayed, the user can select from pull-down menus options for “Lien Position”  76 , which includes, for example, selectable fields labeled “First” or “Second Mortgage” or “Equity/Joint Venture”. Advantageously, this fixed assortment of options results in consistent processing by multiple users. Input for “Loan Term” is provided. The user can also select from fixed menu options the “Loan Purpose”  77 , such as “Acquisition”, “Refinance” and 10 “Construction”, as appropriate. Other input fields including “Amortization Schedule” and “Participation”  78 , which includes input fields for “% of Cash Flow”, % of Residual”, and “Minimum Residual Participation”. “Origination and Prepayment Fees and “Rate” input fields  79  and “Prepayment Options” fields  80 , including parameters known in the loan origination industry.  
         [0050]     In one embodiment, the suite of “Loans” screens represented by the General Terms screen  75 , optionally includes other screens (not shown), each accessed by a tab. For example, in  FIG. 4 , a “Sources” screen is displayed in which system  10  populates the screen with summary information relating to funding “sources” and corresponding “uses”, in balance-sheet format. Other screens can provide input fields for borrower cash equity, additional collateral, and earnout, as well as input fields relating to senior debt and annual debt service.  
         [0051]      FIG. 5  illustrates an example Cash Flow/Valuation suite of screens, with the “Valuation” screen  81  displayed. “Valuation” screen  81  provides input fields for “Direct Capitalization” values  82 , “Discounted Cash Flow”  83 , and “Sales Comparables”  84 . The default calculations for these values consist of a mixture of user inputs and values driven by the system logic of system  10 . The user has the discretion of overriding both the input and the calculated values, should specific circumstances of the deal so 30 dictate. In the preferred embodiment, in general, data fields associated with capital funding are auto-populated from other inputs to other screens. A “Percent Direct Capital” input field  85  is provided. A pull-down menu of calculation method selections  86  including “Average/Current Proforma NOI”, “Current NOI”, and “Proforma NOI”. In addition, text fields  86  are available for entry of user comments.  
         [0052]      FIG. 5  also shows other tabs representing additional screens included in the suite of Cash Flow/Valuation suite of screens  81 , including tabs  87  labeled “Income By Year”, “Expense By Year”, and “Capital Expenditures By Year”. These screens include data input fields known in the loan origination industry, for example, “Income By Year” includes, for example, net rental income, expense recoveries and other income fields. The remaining screens of the suite include similar known inputs for expense and capital expenditures. Advantageously, in the preferred embodiment, pop-up worksheet screens are available to tally a number of years-average economic opportunity, and various types of income growth, as necessary. The number of years presented dynamically changes based on the loan term. In addition, system  10  trends forward the data input on the Screen Deal—Property Cash Flow screen, based on the growth rates previously assigned by the user.  
         [0053]      FIG. 6  illustrates an example Deal Recap suite of screens, with the deal recap screen  90  displayed. Screen  90  provides an informational display of a “Deal Overview”  91  of the deal in terms of selected values of interest to the business entity. Any selected values can be displayed according to preferences of the business entity. For example, in addition to size and commitment amount, specific calculated underwriting values are displayed. Pricing values are displayed along with return values, including, for example, ROI, net income and IIR. Optionally, the details of these return values and other associated values, as identified by the business entity, are displayed in one or more additional informational screens.  
         [0054]      FIG. 7  illustrates an example suite of “Asset” screens which are obtained through user selection of icon channel  95 , labeled “Asset”, from icon button channels  52 . In the preferred embodiment, selection of “Asset” channel  95  instructs system  10  to display the “Characteristics” screen  96 , indicated by an icon tab of the same name, displayed near the top of the screen. Assets screen  96  includes asset “Description” fields  97 , which include pertinent data fields known in the loan origination industry. Optionally, other input screens providing input fields for additional asset-related fields can be provided as necessary, and identified by selectable icon tabs.  
         [0055]      FIG. 8  illustrates an example suite of “Market” screens which are obtained through user selection of channel  100 , labeled “Markets”, from icon button channels  52 . In the preferred embodiment, selection of “Market” channel  100  instructs system  10  to display a market demand screen  101  labeled “MSA Demand”, which is one of several metropolitan statistical area analysis screens. These screens can be configured to display any number of data input fields pertinent to characterizing market demand. In the preferred embodiment, screen  101 , as shown in  FIG. 9 , is arranged in a grid format, in which at the left side is a list of market descriptors  102 , and across the top of the grid are column titles  103  indicating degrees of risk, including, for example, “less risky—1”, “2”, “3”, ‘A”, “5—more risky”, and “not selected”. The user optionally selects, for each listed market descriptor, an icon button from the appropriate column of degrees of risk button icons. A check-mark icon appears as overlaying each selected button. Advantageously, for each position of the Windows pointing device over a button icon, an information window  104  dynamically changes to display both definitions and experience-based information for that particular combination of risk and market descriptor.  
         [0056]     In the preferred embodiment, the market demand screen  101  includes market descriptors such as, for example, number of jobs, employment growth, employment volatility, job diversity, population growth, demographic diversity, business environment, cost of services, defense employment exposure, single employer risk, single industry risk, infrastructure, size of skilled workforce, quality of life.  
         [0057]     Also in the preferred embodiment, the market demand screen  101  includes “User Selected Market Risk” field  105 , which is auto-populated by system  10  with a value developed from previously entered numeric risk data, and a “Calculated Market Risk Rating” field, which is auto-populated by a calculated sum representing the above-described, subjective data indicated by checked grid buttons. Optionally, guideline warnings characterizing the disparity between these two risk rating values are auto-populated in a word processing document. A user, who edits such a document, would thereby have the opportunity to further expand on the reasons surrounding the difference in risk assessment.  
         [0058]     Another metropolitan statistical area (MSA) analysis screen titled, for example, “MSA Supply”, (not shown) includes market descriptors such as, for example, metropolitan statistical area total inventory, metropolitan statistical area total inventory trend, metropolitan statistical area total inventory condition, metropolitan statistical area occupancy, metropolitan statistical area absorption per year, and metropolitan statistical area growth constraints.  
         [0059]     Still another metropolitan statistical area titled, for example “Sub market Demand &amp; Supply”, (not shown) includes market descriptors such as, for example, overall metropolitan statistical area demand, overall metropolitan statistical area supply, overall submarket demand, overall submarket supply.  
         [0060]      FIG. 9  illustrates an example suite of “Execution” screens  200  which are obtained through user selection of channel  201 , labeled “Execution”, from icon button channels  52 . User selection of icon tab  202 , labeled “Borrower” instructs system  10  to display a “Borrower” screen  201 , which includes data input fields  203  which answer the question, “Does the Borrower have the experience to execute the business plan?”. These fields include borrower name, general real estate experience in years, property type experience in years, local market experience in years and number of similar properties owned. Input field grouping  204  includes input fields are intended to answer the question, “Does the Borrower have the financial wherewithal to perform?”, including net worth, liquid assets and empire risks, which includes user-selectable options, including operating shortfalls, highly leveraged, contingent liabilities, and difficulty with lenders.  
         [0061]     A third borrower grouping of input fields  205  are intended to answer the question “How do we expect the Borrower to behave in bad times on their history?” These fields include check-mark icon entries for criminal activity, various civil litigation-related actions, and history with the business entity. Similar questions in connection with the tenant(s) can be provided.  
         [0062]      FIG. 10  illustrates another input screen  66  titled “Environmental Issues” of the Execution suite of screens  200 . Screen  66  lists pre-determined environmental issues  67  arranged as the vertical component of a grid pattern. Across the top of the grid pattern are displayed five column headings  68 , for example, “Not Present”, “Green”, “Yellow”, “Red”, and “Not Selected”, although any suitable set of headings will suffice. Arranged within the grid, beneath the column headings, are icon buttons  69 , which the user selects according to a judgement of the degree of presence of a respective environmental item. Each selection results in the display of an icon checkmark, and mere location of the Windows cursor results in the appearance of explanatory commentary in an information window  55 . Included also, is a text-input window, made available for the user to add comments.  
         [0063]      FIG. 11  illustrates an example of a deal analysis screen  210 , which is obtained through user selection of channel  201 , labeled “Deal Analysis”, from icon button channels  52 . Deal Analysis screen  201  is an informational screen displaying a list  202  of all guideline/rule warnings responsive to data input to-date. This list is a dynamic list drawn from a library of text descriptors each of which characterizes a specific aspect of the deal. For any given deal, the list automatically reflects an analysis of the numeric input data, the system-calculated values, and the non-numeric characterization inputs, e.g. the risk analysis described in connection with other input screens. Advantageously, a display of explanatory text appears in a window  203 , when the user selects each listed characterization. Where appropriate, the text includes context-sensitive data (pertinent to the current deal) embedded within the explanatory text. A questions window  204  is provided, also corresponding to each listed characterization, in which system  10  displays key questions dynamically based on data provided in other input  20  screens.  
         [0064]      FIG. 12  illustrates an example suite of loan application screens  208  which are obtained through user selection of channel  209 , labeled “Loan Application”, from icon button channels  52 . The Loan Application channel  52  instructs system  10  to display the “Borrower Information” screen  210 . Screen  210  includes data fields  211  identifying the borrower, including name, address, entity type, state of organization, along with fields identifying controlling principal(s), and indemnitors. Most, and potentially all of these fields are auto-populated by system  10 , using previously input data. This will depend, of course, on the sequence of input screen selection, and completeness of data entry, as of the selection of the Loan Application channel  209 . Other screens (not shown) optionally included in the Loan Application suite  208  display all information known in the loan origination industry as necessary for comprising a complete loan application. Specific requirements may vary and are typically defined by the business entity. For example, Loan Application screen  210  shows exemplary tabs respectively titled “Property Information”  212 , “Basic Loan Terms”  213 , “Source and Uses”  214  and “Other Terms”  215 , as indicative of such information screens. The data fields of Loan Application screen suite  208  are used by system  10  to automatically generate a loan application suitable for printing or electronic transmission to a loan underwriting entity.  
         [0065]     As indicated in connection with  FIG. 4 , which illustrates a suite of loan screens, if the deal type is a debt deal, then the suite of loan application screens shown in  FIG. 12  are displayed. If the deal type is an equity deal, as determined by selection of “Equity Deal Type’ on the General Information screen of the Screen Deal suite of screens, then the suite of loan application screens  208  is replaced by a suite Credit Request screens which reflect the information/structural requirements of an equity transaction.  
         [0066]      FIG. 12  shows channel  220 , labeled “Credit Request” among icon button channels  52 , the selection of which instructs system  10  to display a suite of “Credit Request’ screens (not shown). The Credit Request screens include the same information display fields as described in connection with “Loan Application” screen suite  208 . Potentially all of these fields are auto-populated by system  10 , using previously input data, depending on prior completeness of data input. The data fields of Credit Request screens associated with the Credit Request channel  220  are used by system  10  to automatically generate a credit request suitable for printing or electronic transmission to a credit approval entity.  
         [0067]      FIG. 12  also shows, selection of a channel labeled “Work Pad”  222  provides to the user a screen having basic spreadsheet capability, for use as a convenient calculator for incidental calculation.  
         [0068]      FIG. 13  illustrates a channel  224  labeled “Images”, which upon user selection, enables the user to add, insert, and delete images, by selection of buttons  225 ,  226  and  227 , respectively. After images are input and arranged in desired sequence, the user can instruct system  10  to sequentially display the images by selecting navigation keys  232 . These images are also moved by system  10  to either the Preliminary or Credit Request word processing documents along with the other deal-related information.  
         [0069]     Referring to any of  FIGS. 2-13 , a set of menu choices are displayed at the top of each screen, including standard Windows choices such as “File”, “Edit” and “Help”. In the preferred embodiment, other functionality is also included in the form of menu choices. For example, a menu choice is configured to provide a view of deals grouped by category, such as geographic region, state, or product type (apartment, commercial, etc.). Optionally, system  10  calculates a comparison of any of a group of data fields of interest to the business entity (currently these are “canned reports).  
         [0070]     Advantageously, a copy of the deal recap screen  90 , illustrated in  FIG. 6 , is made available on one or more networks, according to the needs of the business entity. Preferably, the copy of screen  90  is made available on the business entity intranet. The copy of screen  90  is created automatically when a user saves for the first time and is then automatically updated on each subsequent save. This functionality requires that the user be connected to the network, for example, an intranet, at the time that the save occurs, and does not require that the user select or otherwise identify or copy the screens. As an automatic function, system  10  copies one or more deal files, for example, the financial model file, the Loan Application file, and the Credit Request file, from the user&#39;s hard drive, stores them in a server database in a packaged form suitable for transmission and display over an intranet or optionally, the Internet. The user, through menu selection, instructs the system  10  to automatically populate an email message including a hyperlink to the selected screens, and to automatically send the message to one or more addressees indicated by the user.  
         [0071]     Another optional menu choice is a tracking function, which enables the user to view all posted documents. All data which has been changed over the initial input is graphically highlighted, so that a viewer is able to view the change history by clicking on the data. This information becomes visible in a pop-up window because the data is tagged with at least the revised data author&#39;s name, date and time, and old and new value.  
         [0072]     Still other optional menu choices include direct links to web pages providing commercially available market research data and financial reporting data, such as Dunn &amp; Bradstreet (registered trademark). If the user has already provided the postal ZIP Code to system  10 , as part of the property description, such links will automatically route system  10  to data pertinent to the deal.  
         [0073]     Similarly, links to commercial map sources, including orbital images as well as area street maps and aerial photographs are accessed the same way. Copies of such information are obtained by known Windows editing methods.

Technology Classification (CPC): 6