Patent ID: 7461020

Claim:
A computer-implemented apparatus for creating an agreement between a seller and a purchaser for the sale of mortgage loans and tracking compliance with terms of the agreement, the apparatus comprising: a first user interface for receiving the terms of the agreement: deal management logic configured to generate and store the agreement between the seller and the purchaser for the sale of mortgage loans, the agreement being generated based on information regarding the terms of the agreement provided by a user, the agreement terms including at least one variance from a set of business rules that (i) define the types of mortgage loans that may be sold to the purchaser and (ii) are applied to a set of loan data for a mortgage loan during delivery of the mortgage loan to the purchaser to determine whether the mortgage loan is acceptable for purchase by the purchaser based on whether the mortgage loan is one of the defined types of mortgage loans; and a rules processor, coupled to the deal management logic, the rules processor configured to permit adding or editing of at least one business rule based on the at least one variance and configured to access the business rule during delivery of the mortgage loans to the purchaser to generate an output indicating whether the mortgage loan is acceptable for purchase by the purchaser under the terms of the agreement based on the variance; wherein the rules processor is further configured to provide the output to the seller via a second user interface.