Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2011-01-18
2011-01-18
Hamilton, Lalita M (Department: 3691)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
C705S035000, C705S037000
Reexamination Certificate
active
07873569
ABSTRACT:
A web-based loan auction system is available to individual borrowers and individual lenders and is particularly well-suited for individual borrowers that cannot meet the standards of conventional lending institutions. The system is also attractive to potential lenders that desire to achieve a higher return on their investment than currently offered by banks. The potential borrower submits a web-based loan application to the auction system. Once the loan application information is verified (a function performed by the agency offering the auction service), the application is translated into an “anonymous” version, where the personal information of the borrower himself is replaced by “placeholders” known and controlled by the auction service. The “anonymized” version of the loan application is then posted on the auction's web site for bidding by potential lenders.
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Hamilton Lalita M
Koba Wendy W.
LandOfFree
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