Computerized system for managing communications between a buyer, seller, and lender

US8560411B2 · kind B2 · utility

Assignee

• Preferred Home Buyers Network, Inc. · US

Inventors

• Stephen M. Polston · Excelsior, US
• Aaron Matthew Vennie · Burnsville, US
• Jeffery Matthew Colville · Maple Grove, US
• Michelle Patrice Hiller · Elk River, US
• Joan Marie Skallman · Excelsior, US
• Ronald J. Steele · Rhinelander, US
• Michael Kyle Ross · Guy, US

Key dates

• Filing date: Apr 12, 2006
• Grant date: Oct 15, 2013
• Expiry date: Sep 7, 2030

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/04
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A computerized system and method are presented for exchanging information between a buyer, a seller, and a lender. The system permits sellers and lenders to input buyers that are then submitted for activation. The buyers use the system to obtain information about items, while the sellers and lenders make consistent contact with the buyer in order to work with the buyer. Information about the buyers is shared with both the sellers and the lenders. A business plan is also input into the computerized system by the financial institution employing the lender. This business plan includes goals for numbers of sellers and buyers using the system, and for loan officer candidates to be recruited. Activity on the computerized system is calculated for compliance with the business plan. Feedback is provided to management relating to whether the business plan is being met.