System and method for modifying attribute data pertaining to financial assets in a data processing system

Abstract

A processing system for modifying attributes of a plurality of loans is described. The processing system includes an attribute change processor for receiving and implementing a proposed change to an attribute of at least one of the plurality of loans and a loan pricing processor for generating a pricing value associated with the proposed change to the attribute of the at least one loan.

What is claimed is:  
     
         1 . A processing system for modifying attributes of a plurality of loans comprising: 
 an attribute change processor for receiving and implementing a proposed change to at least one attribute of at least one of the plurality of loans; and    a loan pricing processor for generating a pricing value associated with the proposed change to the at least one attribute of the at least one loan.    
     
     
         2 . A processing system of  claim 1 , wherein the system communicates the pricing value to a user of the processing system prior to finalizing implementation of the proposed change to the attribute.  
     
     
         3 . A processing system of  claim 2 , wherein the user of the processing system is given the option whether to implement the proposed changed base on the communication including the updated price value.  
     
     
         4 . A processing system of  claim 1 , further including a rules processor for determining the validity of the proposed change.  
     
     
         5 . A processing system of  claim 1 , wherein the attribute change processor, the loan pricing processor and the storage system are provided on a common integrated data processing platform.  
     
     
         6 . A method of maintaining attributes associated with a financial asset stored on a record in a data storage system, the method comprising: 
 receiving a search request to retrieve at least one record from the data storage system that satisfy the search request, wherein the at least one record contains attributes related to the at least one financial asset;    retrieving at least one record from the data storage system;    displaying at least one attribute associated with at least one retrieved record;    receiving a request to modify the at least one attribute associated with the at least one retrieved record; and    applying at least one business rule to the attribute modification request to validate the attribute modification request.    
     
     
         7 . A method according to  claim 6 , wherein displaying at least one attribute associated with the at least one retrieved record includes displaying a plurality of retrieved records in a list.  
     
     
         8 . A method according to  claim 6 , wherein the request to modify the at least one attribute for the at least one record retrieved from the database includes an option to provide a user with information about the effect of the proposed change without changing the at least one attribute.  
     
     
         9 . A method according to  claim 8 , wherein the request including the option to determine the effect of the proposed change without changing the at least one attribute further includes an option to request implementation of the proposed change following providing a user with information about the effect of the proposed change.  
     
     
         10 . A method according to  claim 9 , wherein the at least one attribute associated with the at least one retrieved record is modified based on the request to modify the at least one attribute and the at least one modified record is stored in the data storage system.  
     
     
         11 . A method according to  claim 6 , wherein the request to modify the at least one attribute is accepted or rejected based on the application of the at least one business rule.  
     
     
         12 . A method according to  claim 11 , wherein a rejection of the request to modify the at least one attribute can be overridden.  
     
     
         13 . A method according to  claim 11 , wherein an acceptance of the request to modify the at least one attribute includes modifying the attribute within the record and storing the record containing the modified attribute in the data storage system.  
     
     
         14 . A method according to  claim 6 , further including updating a pricing value associate with the least one financial asset based on the attribute modification request.  
     
     
         15 . A method according to  claim 6 , wherein the financial asset is a loan.  
     
     
         16 . A method according to  claim 15 , wherein the attributes associated with the financial asset include information related to the loan including information pertaining to loan term, interest rate, principal owed, and other attributes for a loan.  
     
     
         17 . A method of maintaining attributes associated with a financial asset stored on a record in a data storage system, the method comprising: 
 receiving a search request to retrieve at least one record from the data storage system that satisfy the search request, wherein the at least one record contains attributes related to the at least one financial asset;    retrieving at least one record from the data storage system;    displaying at least one attribute associated with at least one retrieved record;    receiving a request to modify the at least one attribute associated with the at least one retrieved record; and    generating pricing information based on the modification request to calculate the effect of the modification on pricing information associated with the at least one financial asset.    
     
     
         18 . A method according to  claim 17 , wherein displaying at least one attribute associated with the at least one retrieved record includes displaying a plurality of retrieved records in a list.  
     
     
         19 . A method according to  claim 17 , wherein the request to modify the at least one attribute for the at least one record retrieved from the database includes an option to provide a user with information about the effect of the proposed change without changing the at least one attribute.  
     
     
         20 . A method according to  claim 19 , wherein the request including the option to determine the effect of the proposed change without changing the at least one attribute further includes an option to request implementation of the proposed change following providing a user with information about the effect of the proposed change.  
     
     
         21 . A method according to  claim 20 , wherein the at least one attribute associated with the at least one retrieved record is modified based on the request to modify the at least one attribute and the at least one modified record is stored in the data storage system.  
     
     
         22 . A method according to  claim 17 , wherein the request to modify the at least one attribute is accepted or rejected based on the application of the at least one business rule.  
     
     
         23 . A method according to  claim 22 , wherein a rejection of the request to modify the at least one attribute can be overridden.  
     
     
         24 . A method according to  claim 22 , wherein an acceptance of the request to modify the at least one attribute includes modifying the attribute within the record and storing the record containing the modified attribute in the data storage system.  
     
     
         25 . A method according to  claim 17 , wherein the financial asset is a loan.  
     
     
         26 . A method according to  claim 25 , wherein the attributes associated with the financial asset include information related to the loan including information pertaining to loan term, interest rate, principal owed, and other attributes for a loan.  
     
     
         27 . A method according to  claim 17 , further including receiving a confirmation request based on the generation of pricing information based on the modification request.  
     
     
         28 . A data processing system for processing loan information, comprising: 
 acquisition logic, the acquisition logic including logic configured to receive acquisition information pertaining to loan term, interest rate, principal owed and other attributes for a plurality of loans;    a data storage system, the data storage system configured to receive and store the attributes for each of the plurality of loans in a record associated with the loan for storage in a searchable database;    an attribute change processing system, the attribute change processing system configured to receive and process requests to modify one or more attributes for one or more of the plurality of loans stored in the searchable database; and    a rules engine, the rules engine comprising a series of business rules, wherein the rules engine is activated by the attribute change processing system to apply the business rules to the requests to modify the one or more attributes associated with the one or more of the plurality of loans.    
     
     
         29 . A data processing system according to  claim 28 , wherein the acquisition logic, the data storage system, the attribute change processing system, and the rules engine are provided on a common integrated data processing platform.  
     
     
         30 . A data processing system according to  claim 28 , wherein the rules engine comprises a plurality of rules engines.  
     
     
         31 . A data processing system according to  claim 28 , wherein each of the plurality of loans is described using a series of attributes, and wherein the data processing system is capable of being modified to process loan information for new types of loans by modifying the composition of the series of attributes.  
     
     
         32 . A data processing system according to  claim 28 , wherein the records in the data storage system are searchable based on the values stored in the attributes for one or more of the plurality of loans.  
     
     
         33 . A data processing system according to  claim 32 , wherein the attribute change processing system is configured to report the results of the application of the business rules to the attribute modification request.  
     
     
         34 . A data processing system according to  claim 33 , wherein the attribute change processing system is further configured to calculate and report the effect of the attribute modification request.  
     
     
         35 . A data processing system comprising: 
 acquisition logic, the acquisition logic including logic configured to receive information pertaining to loan term, interest rate, principal owed and other parameters for a plurality of loans;    financial asset generation logic, the financial asset generation logic including logic configured to facilitate creation and maintenance of a plurality of financial assets backed by the plurality of loans; and    a data storage system, the data storage system configured to receive and store the attributes for each of the plurality of loans in a record associated with the loan for storage in a searchable database;    an attribute change processing system, the attribute change processing system configured to receive and process requests to modify one or more attributes for one or more of the plurality of loans stored in the searchable database; and    a rules engine, the rules engine comprising a series of business rules, wherein the rules engine is activated by the attribute change processing system to apply the business rules to the requests to modify the one or more attributes associated with the one or more of the plurality of loans, and    wherein the acquisition logic, the financial asset generation logic, and the attribute change processing logic are provided on a common integrated data processing platform.    
     
     
         36 . A data processing system according to  claim 35 , wherein the acquisition logic, the data storage system, the attribute change processing system, and the rules engine are provided on a common integrated data processing platform.  
     
     
         37 . A data processing system according to  claim 35 , wherein the rules engine comprises a plurality of rules engines.  
     
     
         38 . A data processing system according to  claim 35 , wherein each of the plurality of loans is described using a series of attributes, and wherein the data processing system is capable of being modified to process loan information for new types of loans by modifying the composition of the series of attributes.  
     
     
         39 . A data processing system according to  claim 35 , wherein the records in the data storage system are searchable based on the values stored in the attributes for one or more of the plurality of loans.  
     
     
         40 . A data processing system according to  claim 39 , wherein the attribute change processing system is configured to report the results of the application of the business rules to the attribute modification request.  
     
     
         41 . A data processing system according to  claim 40 , wherein the attribute change processing system is further configured to calculate and report the effect of the attribute modification request.  
     
     
         42 . A data processing system comprising: 
 (A) acquisition logic, the acquisition logic including logic configured to receive acquisition information pertaining to loan term, interest rate, principal owed and other parameters for a plurality of loans, the acquisition logic including 
 (1) committing logic configured to permit a seller of the plurality of loans to enter into a commitment to sell the loans,  
 (2) pricing logic configured to determine selling prices from the plurality of loans, and  
 (3) deal management logic configured to track terms of deals entered into with the seller of the plurality of loans;  
   (B) a rules engine, the rules engine comprising a series of business rules;    (C) a common data storage system, the data storage system being commonly accessible to the acquisition logic, the rules engine, and an attribute change processing logic; and    (D) attribute change processing logic, the attribute change processing logic including logic configured to receive a request to modify one or more attributes associated with one of more loans, the attribute change processing logic including logic for 
 (1) receiving a request to modify one or more attributes associated with one or more loans,  
 (2) retrieving the one or more loans from the common data storage system,  
 (3) invoking the rules engine to determine the validity of the modification request;  
   wherein the acquisition logic and the attribute change processing logic are provided on a common integrated data processing platform.    
     
     
         43 . A data processing system according to  claim 42 , wherein the acquisition logic, the data storage system, the attribute change processing system, and the rules engine are provided on a common integrated data processing platform.  
     
     
         44 . A data processing system according to  claim 42 , wherein the rules engine comprises a plurality of rules engines.  
     
     
         45 . A data processing system according to  claim 42 , wherein each of the plurality of loans is described using a series of attributes, and wherein the data processing system is capable of being modified to process loan information for new types of loans by modifying the composition of the series of attributes.  
     
     
         46 . A data processing system according to  claim 42 , wherein the records in the data storage system are searchable based on the values stored in the attributes for one or more of the plurality of loans.  
     
     
         47 . A data processing system according to  claim 46 , wherein the attribute change processing system is configured to report the results of the application of the business rules to the attribute modification request.  
     
     
         48 . A data processing system according to  claim 46 , wherein the attribute change processing system is further configured to calculate and report the effect of the attribute modification request.