Patent ID: 8515861

Claim:
A computer implemented method for facilitating sale of a mortgage loan by a seller to a purchaser over a computer network, the mortgage loan having a set of loan data and the seller and the purchaser having an agreement regarding the sale of mortgage loans including terms, the method comprising: receiving the terms for the agreement, the terms including pricing data for the mortgage loan; receiving the set of loan data for the mortgage loan from the seller using delivery logic; storing the terms for the agreement and the set of loan data in a computer-implemented database; receiving a pre-submission request from the seller via a user interface to process the loan data prior to selling the mortgage loan to the purchaser; and in response to the pre-submission request, processing the set of loan data received from the seller at a computer processor by applying a set of business rules to the set of loan data to determine whether the set of loan data is in compliance with the terms of the agreement between the seller and the purchaser and to identify any errors in the set of loan data, and updating the pricing data for the mortgage loan using pricing logic associated with the purchaser prior to selling the mortgage loan to the purchaser, the pricing data being updated by the pricing logic based on at least the set of loan data and the terms for the agreement, the pricing data indicating a price for the mortgage loan; wherein the pricing logic is associated with the purchaser and configured to determine a price for the sale of the mortgage loan based at least on the set of loan data and the terms of the agreement.