System and method for implementing and administering a mortgage plan
First Claim
1. A system for implementing a mortgage plan, comprising:
- lender computer means;
service computer means for storing borrower information and for storing groups of investment information;
said service computer means including means for receiving said borrower information and said groups of investment information;
means for selecting an individual one of said groups of investment information;
means responsive to said borrower information and to the selected one of said group of investment information for determining a desired amount of investment funding to help repay a mortgage plan structured according to the stored mortgage information; and
means for generating mortgage implementing information for a given mortgage based on the determined amount of funding and for sending said mortgage implementing information to said lender computer means to facilitate the establishment of a mortgage plan.
1 Assignment
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Accused Products
Abstract
A computerized mortgage implementing system includes a central service computer, which helps establish and maintain mortgage plans based upon mortgages at least partially collateralized by investment vehicles. Both a plurality of groups of investment vehicle information and mortgage information are stored in the service computer. Borrower information is entered in the service computer when a mortgage plan is to be established. An individual one of the groups of investment information is selected. A desired amount of the investment funding is determined for helping repay a mortgage plan. Mortgage implementing information is generated for a given mortgage plan, and is sent to a mortgage lender computer to facilitate the establishment of the mortgage plan.
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Citations
43 Claims
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1. A system for implementing a mortgage plan, comprising:
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lender computer means; service computer means for storing borrower information and for storing groups of investment information; said service computer means including means for receiving said borrower information and said groups of investment information; means for selecting an individual one of said groups of investment information; means responsive to said borrower information and to the selected one of said group of investment information for determining a desired amount of investment funding to help repay a mortgage plan structured according to the stored mortgage information; and means for generating mortgage implementing information for a given mortgage based on the determined amount of funding and for sending said mortgage implementing information to said lender computer means to facilitate the establishment of a mortgage plan. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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14. A method of implementing a mortgage plan, comprising:
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using lender computer means; receiving and storing borrower information and groups of investment information; selecting an individual one of said groups of investment information; responding to said borrower information and to the selected one of said group of investment information for determining a desired amount of investment funding to help repay a mortgage plan structured according to the stored mortgage information; and generating mortgage implementing information for a given mortgage based on the determined amount of funding and for sending said mortgage implementing information to said lender computer means to facilitate the establishment of a mortgage plan. said lender computer means to facilitate the establishment of a mortgage plan. - View Dependent Claims (15, 16, 17, 18, 19, 20, 21)
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22. A system for implementing a mortgage plan, comprising:
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means for storing mortgage information indicative of a mortgage forming a part of the mortgage plan, said information includes a mortgage dollar amount, a mortgage term period, and a mortgage interest rate; means for gathering periodically current rate of return information regarding a predetermined investment; means for updating stored return information periodically; means for retrieving current updated return information for helping establish a given mortgage plan; means for gathering personal borrower information for a given borrower; means for storing said borrower information; means for retrieving said borrower information to help establish the given mortgage plan means for determining a periodic investment contribution amount to achieve a total return on said investment over the term period of said mortgage based on the current rate of return on the predetermined investment to help repay the mortgage at the termination thereof; means for determining a periodic mortgage interest payment amount for facilitating the calculation of periodic mortgage payment amounts each including a periodic investment contribution amount and a periodic mortgage interest payment amount; means for calculating the mortgage payment amounts for repaying the mortgage plan; and means for generating projections reports indicative of the mortgage plan, mortgage documents to implement the mortgage plan based on said periodic mortgage payment amounts and said mortgage information, and update reports periodically for maintaining the implemented mortgage plan. - View Dependent Claims (23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43)
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Specification