System and method for transmitting and processing loan data

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

What is claimed is:  
     
         1 . A method for collecting and disseminating information over a network connection, comprising the steps of: 
 providing a form to users via a network connection, said form including a series of possible adjustment criteria, adjustments to product costs, and means associated with each of said adjustment criteria for allowing said user to indicate that a criterium is applicable;    receiving via said network connection user input indicating that particular criteria among said adjustment criteria are applicable; and, providing to said user over said network connection a report showing user-selected applicable adjustments to terms of a quoted product.    
     
     
         2 . The method in accordance with claim  14 , wherein said quoted product is a retail product.  
     
     
         3 . The method in accordance with claim  15 , wherein said retail product is an automobile.