Loan Simulation Method And System
First Claim
1. A method of simulating for a borrower the performance of a loan, which loan contains a plurality of loan portions wherein each loan portion has different loan parameters, the method comprising:
- inputting income information about income of the borrower;
inputting expenditure information about expenditure of the borrower;
inputting asset information and liability information about assets and liabilities of the borrower;
inputting loan parameter information about the amount, interest rate, repayment mode and term of each of said plurality of portions of the loan;
providing assumptions about future market conditions affecting the loan;
calculating a flow of funds available for repayment of each portion of the loan according to the borrower income, the borrower expenditure, the borrower assets and liabilities, and the loan parameter information; and
producing a simulation of loan balance according to the flow of funds and the assumptions about future market conditions.
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Accused Products
Abstract
A method (300) of simulating for a borrower the performance of a loan, which loan contains a plurality of loan portions wherein each loan portion has different loan parameters, which borrower may verify their identity (302) and enter/update borrower details (304) as required. The method includes the steps of: inputting income information (306) about income of the borrower; inputting asset information and liability information (308) about assets and liabilities of the borrower; inputting expenditure information (310) about expenditure of the borrower; inputting loan parameter information (314) about the amount, interest rate, repayment mode and term of each of said plurality of portions of the loan; providing assumptions about future market conditions effecting the loan; calculating a flow of funds (318) available for repayment of each portion of the loan according to the borrower income, the borrower expenditure, the borrower assets and liabilities, and the loan parameter information and producing a simulation of loan balance according to the flow of funds and the assumptions about future market conditions, for display and/or printing (320). An on-line subscriber system (100) and application software (200) enabling users to conduct assessment and ongoing management of loans and similar finance products according to the method are also disclosed.
57 Citations
39 Claims
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1. A method of simulating for a borrower the performance of a loan, which loan contains a plurality of loan portions wherein each loan portion has different loan parameters, the method comprising:
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inputting income information about income of the borrower;
inputting expenditure information about expenditure of the borrower;
inputting asset information and liability information about assets and liabilities of the borrower;
inputting loan parameter information about the amount, interest rate, repayment mode and term of each of said plurality of portions of the loan;
providing assumptions about future market conditions affecting the loan;
calculating a flow of funds available for repayment of each portion of the loan according to the borrower income, the borrower expenditure, the borrower assets and liabilities, and the loan parameter information; and
producing a simulation of loan balance according to the flow of funds and the assumptions about future market conditions. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 37, 38, 39)
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20. A method of simulating for a borrower or borrowers the performance of a transactional loan in accordance with a predetermined strategy, which transactional loan comprises multiple fixed interest rate portions and variable interest rate portions and each portion comprises multiple temporal loan segments, the method comprising:
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inputting income information about income of the borrower;
inputting expenditure information about expenditure of the borrower;
inputting asset and liability information about assets and liabilities of the borrower, including existing loans and associated repayments relating to the liabilities of the borrower;
inputting transactional loan information proposed for refinancing of existing loans, including amount, interest rate, repayment mode and term of each portion or segment of said transactional loan;
providing assumptions about future market conditions affecting the loans;
calculating a flow of funds available for repayment of each portion of the transactional loan according to the borrower income, the borrower expenditure, the borrower assets and liabilities, and the transactional loan information; and
producing a simulation of interest and years saved by said refinancing including available loan credit and available loan credit potential according to the flow of funds and the assumptions about future market conditions. - View Dependent Claims (21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36)
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Specification