Systems and methods of a mortgage pricing service
View Patent ↗Systems, methods, and computer program products are provided for creating and using a common, generic, data/object model to represent information grids or lookup tables, such as a mortgage asset pricing information grid, mortgage asset re-pricing grid, and credit risk pricing grid. The common model allows a common software representation for logically different attributes.
1. A non-transitory computer-readable recording medium storing computer-executable program instructions which, when executed by a processor, perform a method of facilitating pricing of a financial product comprising the steps implemented by a computer of:
identifying a plurality of price components that contribute to a net price of the financial product;
representing the plurality of price components in a plurality of pricing grids;
creating the one or more information grids comprising a plurality of cells, wherein
each cell contains a value representing data from the plurality of pricing grids, and
creating a tree node structure that includes a plurality of tree nodes that represent each of the values;
storing the value of a cell in each of the tree nodes;
creating a data model that represents each tree node;
storing, in the data model, a grid definition identifying the information grid, a grid node storing the value of the cell and containing a reference to a parent node, and a grid schema specifying a location of the grid node in the tree structure;
creating a common interface to access the plurality of data structures;
invoking the common interface to retrieve the plurality of price components from the plurality of data structures; and
utilizing the retrieved plurality of price components to determine the net price of the financial product.
2. The method of claim 1 , wherein the financial product is a mortgage asset.
3. The method of claim 1 , further comprising:
invoking the common interface to modify a price component represented in the data structures.
4. The method of claim 1 , wherein the values expire at predetermined times.
5. The method of claim 1 , wherein the plurality of pricing grids are grids for pricing mortgage assets.
6. The method of claim 1 , wherein the plurality of pricing grids are grids for re-pricing currently owned mortgage assets.
7. The method of claim 1 , wherein the plurality of pricing grids are grids for pricing a credit risk.