Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2011-05-10
2011-05-10
Dass, Harish T. (Department: 3695)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
C705S035000, C705S03600T, C705S037000, C705S027200
Reexamination Certificate
active
07941365
ABSTRACT:
Systems and methods consistent with the present invention provide a mortgage with a primary credit line and a sliding credit line, such that the borrower may request to borrow from the sliding credit line as part of the original mortgage. In one embodiment, the method includes determining a level of risk associated with the borrower based on credit information of the borrower; establishing a first credit line based on the determined level of risk associated with the borrower, the first credit line being set as a debt of the mortgage; establishing a second credit line based on the determined level of risk associated with the borrower, the second credit line being set as a maximum to which the debt of the mortgage may be increased during the mortgage; and offering the mortgage to the borrower with the established first and second credit lines, such that a single first lien may serve as security for the first and second credit lines. Moreover, a mortgage lender may record the single first lien as the sum of the primary and sliding credit lines.
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Bradley Michael G.
Gordon J. Douglas
Muren Walter C.
Dass Harish T.
Federal Home Loan Mortgage Corp. (Freddie Mac)
Finnegan Henderson Farabow Garrett & Dunner LLP
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