Principal first loan product

Details Principal first loan product Principal first loan product

2008-02-15

2011-12-13

Merchant, Shahid (Department: 3694)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

C705S035000

Reexamination Certificate

active

08078526

ABSTRACT:
A principal first loan product that includes qualifying a borrower for a principal first loan, processing the principal first loan, and applying an entire amount of each payment from the borrower for the principal first loan to a principal of the principal first loan during a defined time period. The principal first loan may be a mortgage. The principal first loan may be re-amortized at a remaining loan principal balance and a remaining loan term after the defined time period. Each payment from the borrower received after the defined time period may be applied to the principal first loan in accordance with the re-amortization.

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