Credit Management Solutions Inc. has received a patent for its system of transmitting credit applications from loan originators to funding sources.

The on-line system, CreditConnection, is being used for automobile and recreational vehicle lending and leasing, the company said. Loan applications can be transmitted to multiple lending sources.

"While there is at present no standard for this type of lending, we believe that this methodology, along with the strength of our technology, supports CreditConnection becoming the standard," said Peter M. Leger, president and chief operating officer at Credit Management.

Dealers using the system can send applications to a range of banks and finance companies, including Americredit Corp., Bank One Corp., Wachovia Corp., and GMAC, the captive lending arm of General Motors Corp.

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