Transaction management system
The present invention is directed towards methods, apparatuses, and systems for facilitating and enhancing processes associated with financial transactions. The present invention monitors and manages transaction-level work flows, and facilitates coordination of the tasks and operations associated with financial transactions. Embodiments of the present invention also allow for automation of various deal management, collateral analysis and due diligence processes associated with financial transactions. In one embodiment, the present invention facilitates tasks and processes associated with the purchase and sale of whole loans.
1 . A system facilitating processes associated with financial transactions, comprising:
a document management system operative to store documents in association with corresponding transactions;
a loan tracking system operative to store transaction-level and loan-level data in association with corresponding transactions;
a transaction management system comprising a workflow management engine and a notification module, wherein the transaction management system is operative to provide user interfaces facilitating access to documents and data stored in the loan tracking system and the document management system, and to provide user interfaces facilitating the selection of loans associated with a transaction and selection of application services to be performed on the selected loans stored in the loan tracking system,
wherein the workflow management engine is operative to monitor the status of at least one transaction in relation to a set of predefined transaction events, and trigger operation of the notification module in response to a transaction event, and
wherein the notification module is operative to transmit notifications associated with transaction events to corresponding sets of users; and
a network services gateway operably coupled to a computer network to transmit to, and receive data from, at least one application service, wherein the network services gateway, in response to an order transmitted by the transaction management system, is operative to extract data from the loan tracking system, and compose and route a request to the application service identified in the order, wherein the network services gateway is further operative to receive a response from the application service and store data associated with the response in the loan tracking system.
2 . The system of claim 1 , wherein the transaction management system is operative to restrict access to documents and data stored in the loan tracking system and the document management system to privileged users.
3 . The system of claim 1 , wherein the transaction management system is operative to present a deal home page to users.
4 . The system of claim 3 , wherein the deal home page contains links to documents corresponding to a transaction stored by the document management system.
5 . The system of claim 3 , wherein the deal home page contains a link to a purchase sheet including parameters and data associated with a transaction.
6 . The system of claim 1 , wherein the transaction management system further comprises a presentation engine, and wherein the presentation engine is operative to extract data from the loan tracking system and generate reports according to predefined templates.
7 . The system of claim 1 , wherein the transaction management system further comprises a due diligence module facilitating the selection of a sample of loans.
8 . The system of claim 7 , wherein the due diligence module facilitates the selection of due diligence services to be performed on the sample of loans.
9 . The system of claim 1 , wherein the transaction management system further comprises a tape analyst module facilitating the selection and ordering of application services for a plurality of loans.
10 . The system of claim 1 , wherein the notification module transmits an email notification.
11 . The system of claim 10 , wherein the email notification includes a link to a document stored in the document management system.
12 . The system of claim 10 , wherein the email notification includes a link to a deal home page.
13 . The system of claim 10 , wherein the email notification includes a link operable to cause the transaction management system to generate and transmit a page-based interface including parameters associated with a transaction.
14 . The system of claim 1 , wherein the workflow management engine is further operative to change the status of loans corresponding to a transaction in the loan tracking system in response to transaction events associated with the loans.
15 . The system of claim 1 , wherein the transaction management system further comprises a query tool allowing for searching of loans based on at least one loan data field value.
16 . An apparatus facilitating processes associated with transaction management, comprising:
a loan tracking system operative to store transaction-level and loan-level data in association with corresponding transactions; and
a transaction management system comprising a workflow management engine and a notification module, wherein the transaction management system is operative to provide user interfaces facilitating access to and modification of data stored in the loan tracking system,
wherein the workflow management engine is operative to monitor the status of at least one transaction in relation to a set of predefined transaction events, and trigger operation of the notification module in response to a transaction event, and
wherein the notification module is operative to transmit predefined notifications associated with a transaction event to a predefined set of users.
17 . The apparatus of claim 16 , wherein the workflow management engine is further operative to change the status of loans corresponding to a transaction in the loan tracking system in response to transaction events associated with the loans.
18 . The apparatus of claim 16 , wherein the transaction event is the uploading of a report.
19 . The apparatus of claim 16 , wherein the transaction event is the uploading of data into the loan tracking system.
20 . The apparatus of claim 16 , wherein the transaction event is the assignment of a user to a transaction.