LOAN AUCTIONING SYSTEM AND METHOD

摘要

A system is provided for facilitating a loan agreement by conducting a reverse auction on behalf of a prospective borrower, including a processing means (51), a data communication means (52), and a plurality of client computers (53) adapted to communicate with the processing means (51) via the communication means (52). The processing means (51) is further adapted to read and write data to a database, and administer a reverse auction to facilitate a loan agreement between the prospective borrower and a lender. Also provided is a method of facilitating a loan agreement using the disclosed system, and a method of ranking a plurality of multiple-factor bids.