Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Patent
1999-01-26
2000-05-23
Stamber, Eric W.
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
705 35, G06F 1760
Patent
active
060675330
ABSTRACT:
Methods, system, and article of manufacture are provided for processing real estate loans based on loan data including personal data relating to a borrower, financial information relating to the borrower's financial position, and loan conditions including a loan term and information on the corresponding real estate, related to a real estate loan. Such methods, system, and article of manufacture generate a comparison model including an ability-to-pay rate reflecting an interest rate on the loan reflecting the borrower's ability to repay a loan having the loan conditions, a default rate reflecting an interest rate realizable if the loan is foreclosed and a new loan secured by the real estate originated, and a minimum rate reflecting an interest rate realizable if protocols from a sale of the real estate before expiration of the loan term are determined to be acceptable and a new loan secured by the real estate originated. Using a relationship determined from the ability-to-pay rate, the default rate, and the minimum rate of the comparison model, as well as a predetermined current return rate, the methods, system, and article of manufacture select an acceptable return rate for the loan.
REFERENCES:
patent: 4739478 (1988-04-01), Roberts et al.
patent: 4876648 (1989-10-01), Lloyd
patent: 5699527 (1997-12-01), Davidson
patent: 5742775 (1998-04-01), King
patent: 5774883 (1998-06-01), Andersen et al.
Botkin Elizabeth M.
Comeau Phillip E.
Lewis Nicole
McCauley John J.
Vella John A.
Freddie Mac
Patel Jagdish
Stamber Eric W.
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