Katherine Kraft Decker

US Patent:

20070226131, Sep 27, 2007

Filed:

Mar 2, 2007

Appl. No.:

11/681541

Inventors:

Katherine Decker - Atlanta GA, US
Sam Evans - Nashville TN, US
Mark Brunn - Nashville TN, US

International Classification:

G06Q 40/00

US Classification:

705038000

Abstract:

An electronic data processing risk mitigation clearinghouse can assure a lender that a given independent dealer transaction will be handled in a regular, orderly way and that the lender's dealer risk is mitigated. The lender can be assured that loans will not originate from unduly risky dealers, and that liens or other security interests in vehicle or other goods will be perfected in a timely and efficient manner. Dealers, including independent dealers without existing relationships with full credit spectrum of lenders, can now offer their customers a range of financing options not previously available. Consumers who decide to purchase through independent dealers based on convenience, inventory or other reasons can choose from a wider range of different financing options. Consumers may receive more competitive interest rates, better loan terms or other benefits as a result.