System, method, and apparatus for a complete mortgage solution for borrowers, mortgage brokers, mortgage bankers, and investors

摘要

The system and method provide a complete solution for borrowers, brokers, mortgage bankers, and investors in the mortgage industry. The embodiments provide a centralized Internet system that auctions mortgage loans—a system for auctioning loans in the primary market and another for auctioning loans in the secondary market. There is a third auctioning system for auctioning leads (information about potential borrowers) to brokers. The latter system feeds the primary loan auction system while at the same time increasing a borrower's opportunity to obtain a satisfactory loan package. The primary loan auction system encourages optimum rebate values for brokers, provides an improved opportunity to borrowers to obtain the best loan program with the lowest rate available, and feeds the secondary loan auction system with loan packages. The secondary loan auction system encourages optimum rebate values for mortgage bankers and provides improved opportunities to investors to access a large pool of loans matching their requirements.