US Patent:
20070265960, Nov 15, 2007
Inventors:
Asheesh Advani - Dedham MA, US
Grant C. Brown - Lowell MA, US
Michael D. Michaud - Georgetown MA, US
Andrew T. Michel - Cambridge MA, US
Daniel M. Narahara - Reading MA, US
International Classification:
G06Q 40/00
Abstract:
A computer method for automating person-to-person lending comprises receiving from a user over a computer network at least one custom periodic payment amount for a loan period of a person-to-person loan; generating a custom loan schedule based on the custom amount; and transmitting the custom loan schedule over the computer network to the user. A further method comprises receiving from a first user over a computer network a request to modify at least one specific periodic payment amount for a loan period of a pre-existing person-to-person loan; receiving from a second user a consent to the first user's request; and generating a revised loan schedule for the loan based on the request to modify the payment amount. Another method comprises retrieving from a database loan history data for a person-to-person loan; and transmitting the loan history data to a credit reporting agency over a computer network.
