EQUITY PROTECTION
First Claim
1. A computer-assisted method, comprising:
- (a) receiving loan information corresponding to a loan of a borrower, at a computerized system, the loan information including a unique identifier of a property corresponding to the loan; and
(b) recording terms of an equity protection agreement in the computerized system, the equity protection agreement having terms including an initial market value of a property corresponding to the loan, wherein the equity protection agreement has been accepted by the borrower, the computerized system configured to receive the property'"'"'s market value as an input and to adjust the loan information at a predetermined interval of time based on at least the input.
1 Assignment
0 Petitions
Accused Products
Abstract
Systems and methods are illustrated for providing an equity protection product to a borrower of a loan. Aspects of the equity protection product may be implemented using an equity protection agreement. The equity protection product may be used to safeguard a borrower'"'"'s investment in the event of a housing market downturn. In some examples, once the equity protection is purchased, the borrower'"'"'s equity can only increase or remain stable (i.e., flat) regardless of market conditions. The payoff amount of the borrower'"'"'s loan may be reduced to compensate for a change in the market value of the borrower'"'"'s home. The equity protection product may be provided by a lending institution, bank, or any other comparable entity/person. A trading desk may also be used to hedge against the risk created by the equity protection product. In addition, an appraiser may also be used to evaluate and provide current market values of the relevant property.
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Citations
27 Claims
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1. A computer-assisted method, comprising:
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(a) receiving loan information corresponding to a loan of a borrower, at a computerized system, the loan information including a unique identifier of a property corresponding to the loan; and (b) recording terms of an equity protection agreement in the computerized system, the equity protection agreement having terms including an initial market value of a property corresponding to the loan, wherein the equity protection agreement has been accepted by the borrower, the computerized system configured to receive the property'"'"'s market value as an input and to adjust the loan information at a predetermined interval of time based on at least the input. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14)
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15. An apparatus, comprising:
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a memory storing computer-executable instructions; a processor configured to execute the computer-executable instructions to perform a method comprising; (a) receiving loan information corresponding to a loan of a borrower, the loan information including a unique identifier of a property corresponding to the loan; (b) recording terms of an equity protection agreement in the memory, the equity protection agreement having terms including an initial market value of a property corresponding to the loan, wherein the equity protection agreement has been accepted by the borrower; and (c) receiving the property'"'"'s market value as an input and adjusting the loan information at a predetermined interval of time based on at least the input. - View Dependent Claims (16, 17, 18, 19)
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20. A computer-assisted method, comprising:
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(a) receiving, at a computerized system, mortgage information corresponding to a mortgage of a property, the information including a payoff amount of the mortgage; (b) receiving, at the computerized system, terms of an equity protection agreement that has been accepted by a borrower associated with the mortgage, the terms including a market value of the property; (c) recording the mortgage information and the terms of the equity protection agreement in the computerized system; (d) at a predetermined interval of time, adjusting the payoff amount of the loan according to a decrease in the property'"'"'s market value, using the computerized system; and (e) outputting the adjusted payoff amount of the loan for display to the borrower, using the computerized system. - View Dependent Claims (21, 22, 23, 24)
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25. An apparatus, comprising:
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a memory storing computer-executable instructions; a processor configured to execute the computer-executable instructions to perform a method comprising; (a) receiving mortgage information corresponding to a mortgage of a property, the information including a payoff amount of the mortgage; (b) receiving terms of an equity protection agreement that has been accepted by a borrower associated with the mortgage, the terms including a market value of the property; (c) recording the mortgage information and the terms of the equity protection agreement in the memory; (d) at a predetermined interval of time, adjusting the payoff amount of the loan according to a decrease in the property'"'"'s market value; and (e) outputting the adjusted payoff amount of the loan for display to the borrower. - View Dependent Claims (26, 27)
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Specification