System and method for managing third-party input to a conditional purchase offer (CPO)

An apparatus for processing a loan between a borrower terminal and at least one lender terminal, comprising:

• a storage device;
• and
• a processor disposed in communication with the storage device, the borrower terminal and the at least one lender terminal,
• the storage device storing a program for controlling the processor;
• and
• the processor operative with the program to:
• receive from the borrower terminal an offer signal including at least one condition signal, the offer signal thereby defining a binding offer having borrower-defined loan conditions,
• receive from the borrower terminal a payment identifier signal for specifying an account from which funds may be paid as a penalty if the offer is accepted by a lender and is not processed by a borrower,
• receive an informational signal including credit information from a third party, said informational signal containing credit report information regarding the borrower,
• transmit the offer signal and the informational signal to the at least one lender terminal,
• receive from the at least one lender terminal an acceptance signal responsive to the transmitted offer signal and the transmitted informational signal,
• select one acceptance signal, and
• identify the lender terminal from which the selected acceptance signal was received to process loan.

An apparatus for processing a loan, comprising:

• a storage device;
• and
• a processor disposed in communication with the storage device, the storage device storing:
• a program for controlling the processor;
• and
• the processor operative with the program to:
• receive an offer signal including at least one condition signal, the offer signal defining a binding offer having borrower-defined loan conditions,
• receive a payment identifier signal for specifying an account from which funds may be paid as a penalty if the offer is accepted and is not processed by a borrower,
• receive an informational signal relevant to the offer from a third party, said informational signal containing credit report information regarding the borrower,
• store at least one rule signal from each of a plurality of lenders, each rule signal including at least one lender-defined restriction,
• compare the offer signal and the informational signal with the at least one rule signal;
• and
• determine whether the at least one condition and the informational signal satisfy each lender-defined restriction of any rule to process the loan.