Interactive mortgage and loan information and real-time trading system

Abstract

The invention provides a method and system for trading loans in real time. Loan applications, such as home mortgage loan applications, are made available electronically to receive bids from a plurality of potential lenders. A transaction server maintains a database of pending loan applications and their statuses, which is accessible over a communications channel, such as the Internet. Each party to a loan can search and modify the database consistent with their role in a transaction. The invention provides smart computerized administration that ensures personal preferences of the participating parties are enforced, errors and duplication is avoided, and information relating to accumulated data is available to the parties consistent with their roles.

1 - 38 . (canceled)  
   
   
       39 . A transaction server computer configured to process loan applications, said transaction server including: 
 a database of pending loan applications, said database including status information regarding said pending loan applications, said database includes a set of bids associated with each said loan application;    a network interface configured to provide communications between the transaction server and at least one client computer associated with a party to one of said pending loan applications;    a lender information generation mechanism configured to generate a loan profile for each of said loan applications;    a set of program modules each configured to cause the transaction server computer to provide one or more services to said at least one client computer; and    a role validation mechanism configured to provide access to one or more of the set of program modules responsive to said party.    
   
   
       40 . The transaction server computer of  claim 39  wherein said pending loan applications comprise home mortgage loan applications.  
   
   
       41 . The transaction server computer of  claim 39  wherein the set of program modules are responsive in real time to requests received from said at least one client computer.  
   
   
       42 . The transaction server computer of  claim 39  wherein said party is a loan originator, a loan maker, a loan purchaser, a broker, loan processor, manager, a prospective borrower, or loan applicant.  
   
   
       43 . The transaction server computer of  claim 39  wherein the set of program modules is selected from the group of a login module, a broker module, a lender module, an administration module, an external interface module, external service module, a notification module, a database interface module, a geoserver module, a monitoring module, and a system module.  
   
   
       44 . The transaction server computer of  claim 43 , wherein said login module is configured to authenticate a party.  
   
   
       45 . The transaction server computer of  claim 44 , wherein said login module is further configured to associate one of said broker module, said lender module, or said administration module with said party.  
   
   
       46 . The transaction server computer of  claim 43 , wherein said broker module is configured to handle server-side application requirements of a broker station.  
   
   
       47 . The transaction server computer of  claim 43 , wherein said lender module is configured to handle server-side application requirements of a lender station.  
   
   
       48 . The transaction server computer of  claim 43 , wherein said administration module is configured to handle server-side application requirements of an administration station.  
   
   
       49 . The transaction server computer of  claim 43 , wherein said external interface module is configured to convert incoming data in a first format to a second format.  
   
   
       50 . The transaction server computer of  claim 43 , wherein said external service module further comprises: 
 a service request mechanism configured to request data from an external service; and    a service reception mechanism configured to receive said data requested by the service request mechanism.    
   
   
       51 . The transaction server computer of  claim 43 , wherein said notification module is configured to handle e-mail communication with said party.  
   
   
       52 . The transaction server computer of  claim 43 , wherein said database interface module further comprises: 
 a connection management mechanism configured to manage the number of simultaneous connections to said database; and    an interface mechanism configured to interface between the set of program modules and said database.    
   
   
       53 . The transaction server computer of  claim 43 , wherein said geoserver module is configured to provide data responsive to a query from said party.  
   
   
       54 . The transaction server computer of  claim 43 , wherein said monitoring module is configured to determine a resource usage and to monitor said resource usage.