US 2026/0260290 A1 · SYSTEM AND METHOD FOR LENDER FUNDING NOTIFICATIONS

Abstract

A loan funding notification system and method that facilitates providing notifications to all transaction parties that a particular loan is in process for remittance to a borrowing party from a particular lending party. A loan transaction associated with a borrowing party and a plurality of lending parties is monitored. This includes the monitoring of various commitment letters that may be issued by a lending party to the borrowing party. A determination is made as to whether the borrowing party has accepted one of the loan commitments for one of the lending parties and whether that borrowing party has also accepted a second loan commitment from a another lending party. Based on this determination, a notification is sent to both lending parties that the borrowing party has accepted a respective loan commitment from each lending party.

Claims20

Dependent claims

A loan funding notification system comprising:

a processor;
a memory storing instructions that when executed cause the processor to perform operations comprising:
monitoring at least one loan transaction associated with a borrowing party and a plurality of lending parties;
determining that the borrowing party has accepted a first loan commitment from a first lending party of the plurality of lending parties specific to the at least one loan transaction;
determining that the borrowing party has accepted a second loan commitment from a second lending party of the plurality of lending parties specific to the at least one loan transaction;
notifying the first lending party of the second loan commitment between the second lending party and the borrowing party prior to funding of the first loan commitment by the first lending party;
and
notifying the second lending party of the first loan commitment between the first lending party and the borrowing party prior to funding of the second loan commitment by the second lending party.

5 more elements

A loan funding notification system comprising:

a processor;
a memory storing instructions that when executed cause the processor to perform operations comprising:
registering a plurality of lending parties;
monitoring at least one loan transaction associated with a borrowing party and particular ones of the plurality of lending parties registered;
determining that the borrowing party has accepted a first loan commitment from a first lending party of the plurality of lending parties specific to the at least one loan transaction;
determining that the borrowing party has accepted a second loan commitment from a second lending party of the plurality of lending parties specific to the at least one loan transaction, wherein the first lending party and the second party each set at least one term for acceptance of the first loan commitment and the second loan commitment, respectively;
notifying the first lending party of the second loan commitment between the second lending party and the borrowing party prior to funding of the first loan commitment by the first lending party;
and
notifying the second lending party of the first loan commitment between the first lending party and the borrowing party prior to funding of the second loan commitment by the second lending party.

6 more elements

A non-transitory computer readable medium having executable code stored thereon, that when executed, cause a computing device to perform operations comprising:

monitoring at least one loan transaction associated with a borrowing party and a plurality of lending parties;
determining that the borrowing party has accepted a first loan commitment from a first lending party of the plurality of lending parties specific to the at least one loan transaction;
determining that the borrowing party has accepted a second loan commitment from a second lending party of the plurality of lending parties specific to the at least one loan transaction;
notifying the first lending party of the second loan commitment between the second lending party and the borrowing party prior to funding of the first loan commitment by the first lending party;
notifying the second lending party of the first loan commitment between the first lending party and the borrowing party prior to funding of the second loan commitment by the second lending party;
responsive to the notifying the second lending party of the first loan commitment between the first lending party and the borrowing party, receiving a loan commitment termination notice from the second lending party;
and
transmitting the loan commitment termination notice to the borrowing party.

5 more elements

Dependencies are inferred from the claim text.

System and method for lender funding notifications

Life of this patent

System and method for lender funding notifications

Life of this patent

Abstract

Claims20