Patent ID: 7216102

Claim:
A method for operating a system for auctioning customer lists to dealers, the system is associated with an entity engaged in a business of providing financing, said method comprising the steps of: prompting a user to select at least one customer characteristic for each customer included within a plurality of customers; calculating a probability for each of the plurality of customers representing a likelihood that the corresponding customer will respond positively to a product offer, each probability is calculated based on the selected customer characteristic for the corresponding customer and using at least one of an early termination model, and propensity and timing models, wherein the early termination model identifies prepaying customers within a predetermined period of time before the prepaying customers prepay a loan, and wherein propensity and timing models identify inactive customers who have a propensity to purchase the product offer and the timing of the purchase; calculating for each customer at least one of an expected income from the customer and the timing of purchase of the product based on the calculated probabilities; grouping customer profiles into distinct lists based upon at least one of the selected customer characteristic and calculated probabilities; prompting product dealers to bid on the customer lists; and providing financing for the product dealers that successfully bid on the customer lists to the customers on the customer lists that purchase the product.