Home equity insurance financial product
First Claim
1. In combination in a computer system for coordinating account management functions directed to accountholders of risk abatement financial products wherein risk to be attenuated corresponds to adverse price changes of real estate properties, said system comprising:
- A digital data storage module capable of retaining in addressable memory, information relating to said account and said financial product;
A computer processor for applying stored controlling logic to account and financial product information to perform the following;
i. account management including organizing account data and reporting on select account transactions; and
ii. account event tracking functions including account transactions;
Said system operation including account management and account event tracking provides risk abatement to accountholders by tracking a current real estate index for a select group of properties and determining whether a loss of value has accrued during select intervals with said loss triggering a payment corresponding to said loss of value to said mortgagor.
2 Assignments
0 Petitions
Accused Products
Abstract
A novel financial product and associated data processing system provide risk abatement to purchasers and/or owners of real estate and/or other assets that are financed and are subject to market valuation changes. The product includes application of a time dependent property index value for adjusting a future payment associated with said property, such as mortgage debt repayment, in response to declining property values. The system permits enhanced and expanded lending in targeted neighborhoods on a selected basis.
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Citations
9 Claims
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1. In combination in a computer system for coordinating account management functions directed to accountholders of risk abatement financial products wherein risk to be attenuated corresponds to adverse price changes of real estate properties, said system comprising:
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A digital data storage module capable of retaining in addressable memory, information relating to said account and said financial product;
A computer processor for applying stored controlling logic to account and financial product information to perform the following;
i. account management including organizing account data and reporting on select account transactions; and
ii. account event tracking functions including account transactions;
Said system operation including account management and account event tracking provides risk abatement to accountholders by tracking a current real estate index for a select group of properties and determining whether a loss of value has accrued during select intervals with said loss triggering a payment corresponding to said loss of value to said mortgagor. - View Dependent Claims (2, 3, 4, 5)
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6. A novel financial instrument providing risk abatement of risks associated with fluctuations in select real estate markets comprising:
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time variant risk abatement by tracking changes in an index associated with aggregate changes for select real estate transactions;
future instrument valuation adjustments responsive to a time-based changes in real estate valuation determined by said index; and
future payment obligation commensurate with a measured drop in index value to insure against negative market movements, said payment triggered by a transaction event or expiration of pre-set term without extension thereof. - View Dependent Claims (7, 8, 9)
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Specification