System and method for facilitating sale of a loan to a secondary market purchaser
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United States of America Patent
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-
Mar 4, 2008
Grant Date -
Oct 28, 2004
app pub date -
Dec 16, 2003
filing date -
Dec 30, 2002
priority date (Note) -
In Force
status (Latency Note)
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Abstract
A method for facilitating sale of a loan by a seller to a purchaser where the seller and the purchaser have an agreement regarding the sale of loans including terms and the loan has a set of loan data. The method includes determining a price for the loan prior to selling the loan to the purchaser. The price is based on at least the set of loan data and the terms for the agreement. The method also includes applying a set of business rules to the set of loan data prior to selling the loan to the purchaser to identify compliance with terms of the agreement and/or errors in the loan data.
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