Multi-directional, multi-dimensional reverse matrix auction

A reverse auction apparatus, comprising:

• a term and position coordinator module of a loan coordinator interacting via a network with a bidder and a plurality of sellers,
• wherein a bidder requests a loan, said loan comprising a loan amount,
• means for a plurality of sellers to bid for said loan, said bid representable in a matrix comprising a vector of said sellers and for each element of said vector a set of corresponding fractional bid elements comprising:
• terms, position, and a fractional loan amount,
• a plurality of display elements driven by said loan coordinator;
• wherein said fractional bid elements of said plurality of sellers are multi-directionally viewable between said plurality of sellers display elements driven by said software of said loan coordinator.
• a reconciliation algorithm operating on said loan coordinator for combining at least three elements of said fractional loan amounts totaling to said loan amount,
• wherein terms and position elements corresponding to said at least three elements yield a minimum term and cover each of a first position, a second position, and a third position.

A computer implemented reverse auction method, comprising the steps of:

• providing a term and position coordinator module of a loan coordinator that is accessible via a network;
• a borrower requesting a loan by interacting with said term and position coordinator via said network, said borrower designating a loan amount and at least one additional borrower loan term;
• multiple bidders submitting bids in a reverse matrix auction format for fractionalized positions on said loan, wherein each of said multiple bidders separately designates:
• a set of bidder loan term requirements;
• a bidder position requirement;
• and
• a set of bidder compatibility requirements;
• said coordinator a loan coordinator receiving over said network and reconciling all of said loan amount, said at least one additional borrower loan term, said set of bidder loan term requirements, said bidder position requirement, and said set of bidder compatibility requirements to determine a subset combination of said bids yielding a winning set of lowest combined loan terms for said loan of said borrower.

A computer implemented reverse auction method, comprising the steps of:

• providing a term and position coordinator module of a loan coordinator that is accessible via a network;
• a borrower requesting a loan amount with reserve requirements;
• multiple bidders submitting bids in a reverse matrix auction format for fractionalized positions on said loan amount by interacting with said term and position coordinator module via said network, wherein each of said bids separately designates:
• a set of bidder loan term requirements;
• a bidder position requirement;
• and
• a set of bidder compatibility requirements,
• said a loan coordinator receiving over said network and reconciling all of said loan amount, said reserve requirements, and said bids to determine a subset combination of said bids yielding a winning set of lowest combined loan terms for said loan of said borrower.

A reverse auction apparatus, comprising:

• a term and position coordinator module of a loan coordinator interacting via a network with a bidder and a plurality of sellers,
• wherein the bidder updates a multi-directional bid yielding an updated bid,
• wherein the plurality of sellers submit multi-dimensional bids;
• and
• a reconciliation algorithm operating on said loan coordinator for combining a subset of said multi-dimensional bids to fulfill requirements of said updated bid.