Method and computer network for co-ordinating a loan over the internet
a technology of internet coordinating and computer network, applied in the field of internet coordinating methods and computer networks, can solve the problems of tedious and time-consuming process, no way to apply for credit from a multitude of lending institutions, etc., and achieve the effect of eliminating unnecessary repetitive applications, fast and convenient process of application
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[0027]Essentially, the invention is a process and a computer for coordinating loans between lending institutions and borrowers via the Internet. FIG. 1 illustrates the ten general stages in the process required to coordinate an electronic credit application between a prospective borrower and a plurality of lending institutions. For example, in stage 1 the process presents background information and a credit application to a prospective borrower-Internet user on a web site. In stage 2, the prospective borrower inputs information onto the web site. In stage 3, validation checks are performed on this information to make sure that the application is complete and correct. Next, stage 4 involves storing and manipulating the credit application in a database. In stage 5, a Fair Isaac Credit Score is obtained based upon the credit application and that score is matched to the application and stored in the database. Next, in stage 6, the application is filtered where it is compared to a list of c
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