Systems and methods of managing prepayment

Details Systems and methods of managing prepayment Systems and methods of managing prepayment

2004-04-28

2009-11-17

Abdi, Kambiz (Department: 3692)

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

Automated electrical financial or business practice or...

Finance

C705S035000, C705S037000, C705S039000

Reexamination Certificate

active

07620594

ABSTRACT:
Disclosed are systems and methods of managing financial transactions such as the prepayments of loans. Various embodiments of the invention allow a lender to pay a prepayment credit to a borrower under certain conditions, and under other conditions for the borrower to pay a prepayment fee to the lender. Prepayment credits and fees may be calculated using various formulas that account for changes in a value of the debt and/or changes in financial conditions such as interest rates. Any prepayment fees may be subject to limitations configured to avoid settlement of debt for less than fair market value and to avoid undesirable accounting consequences associated with prepayment.

REFERENCES:
patent: 6006207 (1999-12-01), Mumick et al.
patent: 2005/0027647 (2005-02-01), Bershteyn
Lenders' prepayment penalties are unjust :[1 Edition]. Toronto Star [serial online]. Sep. 5, 1998:1. Available from: ProQuest Information and Learning, Ann Arbor, Mi. Document ID: 444452401.
Mortgage discount is taxable Series: Tax Tips:[City Edition] Robert J. Bruss. St. Petersburg Times. St. Petersburg, Fla.:May 22, 1988. p. 19.
Mortgage Prepayment Discount Received on Sale of Home was Or The Tax Adviser. New York: Apr. 1987. vol. 18, Iss. 4, p. 282 (3 pp.).

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