Systems and methods for loan management with variable security arrangements
First Claim
1. A data processing system for managing at least one credit-granting account of a participant, said system comprising:
- an electronic database including information describing collateral assets of the participant used for securing the credit-granting account, and a computer system comprising one or more processors coupled to the electronic database and programmed among them to (i) establish through an API a credit-granting account with a facility to maintain a plurality of collateral assets as collateral for the credit-granting account;
(ii) receive new information regarding a collateral asset that is real estate for securing the credit-granting account;
(iii) determine perfection status of a security interest in the collateral asset;
(iv) store, in the electronic database, the new information and at least any change in the perfection status;
(v) determine an interest rate to be charged on outstanding credit balances based on the new information regarding the collateral asset available for securing the credit-granting account containing the perfection status; and
an electronic network access device for sending a signal identifying the new interest rate to an access-vehicle issuing system so that the issuing system can charge the interest rate on outstanding credit balances.
2 Assignments
0 Petitions
Accused Products
Abstract
A data processing system, program product, and method is provided for managing at least one credit-granting account of a participant. The system comprises in one embodiment an electronic database including information describing collateral assets of the participant used for securing the credit-granting account, and a computer system comprising one or more processors coupled to the electronic database and programmed among them to establish through an API a credit-granting account with a facility to maintain a plurality of collateral assets as collateral for the credit-granting account; receive new information regarding a collateral asset that is real estate for securing the credit-granting account; determine perfection status of a security interest in the collateral asset; store, in the electronic database, the new information and at least any change in the perfection status; and determine an interest rate to be charged on outstanding credit balances based on the new information regarding the collateral asset available for securing the credit-granting account containing the perfection status. The system further comprises an electronic network access device for sending a signal identifying the new interest rate to an access-vehicle issuing system so that the issuing system can charge the interest rate on outstanding credit balances. In one of the alternative embodiments, the system sends a signal identifying the interest rate to an interest rate program that controls the interest rate for the credit-granting account.
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Citations
107 Claims
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1. A data processing system for managing at least one credit-granting account of a participant, said system comprising:
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an electronic database including information describing collateral assets of the participant used for securing the credit-granting account, and a computer system comprising one or more processors coupled to the electronic database and programmed among them to (i) establish through an API a credit-granting account with a facility to maintain a plurality of collateral assets as collateral for the credit-granting account;
(ii) receive new information regarding a collateral asset that is real estate for securing the credit-granting account;
(iii) determine perfection status of a security interest in the collateral asset;
(iv) store, in the electronic database, the new information and at least any change in the perfection status;
(v) determine an interest rate to be charged on outstanding credit balances based on the new information regarding the collateral asset available for securing the credit-granting account containing the perfection status; and
an electronic network access device for sending a signal identifying the new interest rate to an access-vehicle issuing system so that the issuing system can charge the interest rate on outstanding credit balances. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 17, 18, 19, 98, 99)
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- 15. The system as defined in claim I, further comprising the computer system programmed for sending a signal identifying interest information to a third party for preparation of a report relating to the participant regarding tax implications of interest paid while the credit-granting account is secured by a residence.
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20. A program product for managing at least one credit-granting account of a participant, comprising
a set of computer readable media having machine-readable program code embodied among them, that when executed by one or more machines, are capable of performing the following method steps, where set is one or more: -
establishing through an API a credit-granting account with a facility to reference one or more collateral assets as collateral for the credit-granting account;
receiving new information regarding a collateral asset that is real estate for securing the credit-granting account;
determining a perfection status of a security interest in the collateral asset;
storing the new information in the electronic database and at least any change in the perfection status;
determining an interest rate to be charged on outstanding credit balances based on the new information regarding the collateral asset available for securing the credit-granting account containing the perfection status; and
sending a signal identifying the interest rate to an access-vehicle issuing system so that the issuing system can now charge the interest rate. - View Dependent Claims (21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 100, 101)
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48. A method for managing at least one credit-granting account of a participant, said method comprising:
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establishing through an API a credit-granting account with a facility to at least one collateral asset as collateral for the credit-granting account;
receiving new information regarding a collateral asset that is real estate for securing the credit-granting account;
determining a perfection status of a security interest in the collateral asset;
storing, in a electronic database, the new information and at least any change in the perfection status;
determining electronically an interest rate to be charged on outstanding credit balances based on the new information regarding the collateral asset available for securing the credit-granting account containing the perfection status; and
sending a signal identifying the interest rate to an interest rate program that controls the interest rate for the credit-granting account.
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49. A method for managing at least one credit-granting account of a participant, said method comprising:
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receiving information from the participant regarding a real estate collateral asset for securing the credit-granting account, storing, in an electronic database, the received information, determining electronically a new interest rate to be charged on outstanding account credit balances based on information regarding the collateral assets available for securing the credit-granting account, and sending a signal identifying the interest rate to an interest rate program that controls the interest rate for the credit-granting account. - View Dependent Claims (50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 74, 79, 102, 103)
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72. A data processing system for managing at least one credit-granting account of an participant, said system comprising:
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an electronic database containing information describing collateral assets used for securing the credit-granting account, and a computer system comprising one or more processors coupled to the electronic database and programmed to (i) receive information from the participant regarding a real estate collateral asset for securing the credit-granting account, (ii) store, in the electronic database, the received information, (iii) determine a new interest rate to be charged on outstanding credit balances based on information regarding the collateral assets available for securing the credit-granting account, and (iv) sending a signal identifying the interest rate to an interest rate program that controls the interest rate for the credit-granting account. - View Dependent Claims (73, 75, 76, 77, 78, 80, 81, 82, 83, 84, 85, 86, 87, 88, 104, 105)
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89. A program product for managing at least one credit-granting account of a participant, comprising
a set of computer readable media having machine-readable program code embodied among them, that when executed by one or more machines, are capable of performing the following method steps, where set is one or more: -
(i) receiving information from the participant regarding a real estate collateral asset for securing the credit-granting account, (ii) storing in an electronic database, the received information, (iii) determine a new interest rate to be charged on outstanding credit balances based on information regarding the collateral assets available for securing the credit-granting account, and (iv) sending a signal identifying the interest rate to an interest rate program that controls the interest rate for the credit-granting account. - View Dependent Claims (90, 91, 92, 93, 94, 95, 96, 97, 106, 107)
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Specification