MODIFIABLE MORTGAGE
First Claim
1. A method comprising:
- storing, in a non-transitory computer-readable medium, one or more terms of an exercisable option, wherein the option is incorporated into a mortgage loan, wherein exercising the option results in one or more terms of the mortgage loan being modified, and wherein one or more terms of the option are based at least partially on a non-mortgage relationship between a borrower associated with the mortgage loan and a lender associated with the mortgage loan.
1 Assignment
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Accused Products
Abstract
Embodiments of the present invention relate to methods and apparatuses for providing, processing, and/or servicing a mortgage loan having one or more exercisable options. For example, in some embodiments, a method is provided that includes storing, in a non-transitory computer-readable medium, one or more terms of an exercisable option, where the option is incorporated into a mortgage loan, where exercising the option results in one or more terms of the mortgage loan being modified, and where one or more terms of the option are based at least partially on a non-mortgage relationship between a borrower associated with the mortgage loan and a lender associated with the mortgage loan.
15 Citations
26 Claims
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1. A method comprising:
storing, in a non-transitory computer-readable medium, one or more terms of an exercisable option, wherein the option is incorporated into a mortgage loan, wherein exercising the option results in one or more terms of the mortgage loan being modified, and wherein one or more terms of the option are based at least partially on a non-mortgage relationship between a borrower associated with the mortgage loan and a lender associated with the mortgage loan. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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14. An apparatus comprising:
a non-transitory computer-readable medium comprising one or more terms of an exercisable option, wherein the option is incorporated into a mortgage loan, wherein exercising the option results in one or more terms of the mortgage loan being modified, and wherein one or more terms of the option are based at least partially on a non-mortgage relationship between a borrower associated with the mortgage loan and a lender associated with the mortgage loan. - View Dependent Claims (15, 16, 17, 18, 19, 20)
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21. A computer program product comprising a non-transitory computer-readable medium, wherein the non-transitory computer-readable medium comprises computer-executable program code portions stored therein, wherein the computer-executable program code portions comprise:
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a first program code portion operable to determine a non-mortgage relationship between a borrower associated with a mortgage loan and a lender associated with the mortgage loan; and a second program code portion operable to determine an exercisable option to incorporate into the mortgage loan, wherein one or more terms of the option are based at least partially on the non-mortgage relationship. - View Dependent Claims (22, 23, 24)
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25. A method comprising:
incorporating an exercisable option into a mortgage loan, wherein exercising the option results in one or more of the terms of the mortgage loan being modified, and wherein the incorporating the exercisable option is based at least partially on a non-mortgage relationship between a borrower associated with the mortgage loan and a lender associated with the mortgage loan.
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26. A method comprising:
modifying, upon exercise of an option, one or more terms of the mortgage loan, wherein the option was incorporated into the mortgage loan prior to the exercise, and wherein the modifying the exercisable option is based at least partially on a non-mortgage relationship between a borrower associated with the mortgage loan and a lender associated with the mortgage loan.
Specification