US 6,438,526 B1
System and method for transmitting and processing loan dataGeneral
US 6,438,526 B1
System and method for transmitting and processing loan data
Tech Center:
2100 Computer Architecture and Software
Examiner:
Wynn Coggins
Art Unit:
2165 Data Bases & File Management
Agent:
Inventors:
FREDERICK T. DYKES; RICHARD J. HEISTON
Assignee:
--
Priority:
09/09/98
Filed:
03/29/99
Granted:
08/20/02
Expiration:
09/15/14
Abstract
An automated system for collecting and disseminating loan information over a network connection includes a server which receives loan data, including daily loan data, from lenders and stores the loan data in a database. A web server provides to users (e.g., brokers, correspondents, or retail loan customers) interactive web content including loan information and a list of loan criteria which would affect the quoted points, rate, cap, or margin associated with a particular loan. The web server receives a user's applicable loan criteria selected from the list of possible loan criteria. And uses that applicable loan criteria and the loan data from the lender to create a list of adjustments to the points, rate, cap or margin. A quoted interest rate and the list of applicable adustments are transmitted by the web server to the user.