Methods for providing automated collateral eligibility services and devices thereof

A system for providing automated collateral eligibility services via one or more collateral management service (CMS) devices, the system comprising:

• a processor;
• and
• a memory including instructions that, when executed by the processor, cause the processor to perform operations including:
• receiving a collateral eligibility schedule setup request from a client device, wherein the collateral eligibility schedule setup request comprises one or more attributes and one or more rules;
• initiating a current collateral eligibility schedule based on the received collateral eligibility schedule setup request;
• transmitting a notification to the at least one other party to review the current collateral eligibility schedule;
• receiving approval of the current collateral eligibility schedule from the at least one other party;
• and
• activating the approved current collateral eligibility schedule.

A non-transitory computer-readable medium configured to store instructions for implementing a method for providing automated collateral eligibility services via one or more collateral management service (CMS) devices, wherein when executed, the instructions cause a computer to:

• receive a collateral eligibility schedule setup request from a client device, wherein the collateral eligibility schedule setup request comprises one or more attributes and one or more rules;
• initiate a current collateral eligibility schedule based on the received collateral eligibility schedule setup request;
• transmit a notification to the at least one other party to review the current collateral eligibility schedule;
• receive approval of the current collateral eligibility schedule from the at least one other party;
• and
• activate the approved current collateral eligibility schedule.