System and method for automated process of deal structuring
First Claim
1. A computerized method of automatically generating at least one piggyback loan option for a borrower, utilizing at least one loan parameter and collateral information, wherein a total amount for the at least one piggyback loan is secured by the collateral, comprising:
- applying a plurality of deal origination rules to the at least one loan parameter and the collateral information;
generating a primary loan having a primary loan amount and a first secured position, calculating a difference amount between the total amount and the primary loan amount;
generating a complementary secondary loan having a second secured position, wherein an amount of the secondary loan is substantially equal to the difference amount;
verifying that the primary loan and the complementary secondary loan comply with the deal origination rules;
generating the piggyback loan, wherein the piggyback loan is a combination of the primary loan and the complementary second loan; and
presenting to the borrower the at least one piggyback loan for the total amount.
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Abstract
An automated deal processing for customers is disclosed, and includes prompting a customer for at least one deal parameter, such as loan amount, prompting the customer for information relating to the customer, such as income and collateral offered by the customer, optionally accessing in real-time information relating to the credit history of the customer, applying a plurality of origination rules, such as exclusionary rules, pricing rules, risk rules, and edit preference rules, to the at least one deal parameter and the information relating to the customer, applying at least one strategy, such as compensation for risk, repair, or upsell, to the results of the application of the rules, generating at least one deal based on the accessing and applying of the strategy, and presenting the customer with the at least one option which may include a customer-preferred loan, a piggyback loan, a pre-qualification, or reduced term loan option,
64 Citations
34 Claims
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1. A computerized method of automatically generating at least one piggyback loan option for a borrower, utilizing at least one loan parameter and collateral information, wherein a total amount for the at least one piggyback loan is secured by the collateral, comprising:
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applying a plurality of deal origination rules to the at least one loan parameter and the collateral information;
generating a primary loan having a primary loan amount and a first secured position, calculating a difference amount between the total amount and the primary loan amount;
generating a complementary secondary loan having a second secured position, wherein an amount of the secondary loan is substantially equal to the difference amount;
verifying that the primary loan and the complementary secondary loan comply with the deal origination rules;
generating the piggyback loan, wherein the piggyback loan is a combination of the primary loan and the complementary second loan; and
presenting to the borrower the at least one piggyback loan for the total amount. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15)
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16. A computerized method of generating a plurality of piggyback loan alternatives, wherein each alternative is secured by collateral, based on at least one preference of a customer, comprising the steps of:
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receiving from the customer at least a full loan amount;
receiving from the customer of information relating to a full value of the collateral;
applying a plurality of deal origination rules to the at least one preference and the information relating to the collateral;
generating a primary loan, wherein a value of the primary loan is a percentage of the full value of the collateral;
calculating a difference value between the full loan amount and the value of the primary loan;
generating a complementary secondary loan having a second secured position, wherein a secondary loan value of the secondary loan is substantially equal to the difference value;
verifying that the primary loan option and complementary secondary loan option comply with the plurality of deal origination rules;
varying the primary loan value to generate an additional primary loan;
generating an additional complementary secondary loan;
iterating said varying the primary loan value to generate an additional primary loan and said generating an additional complementary secondary loan to thereby generate a plurality of primary and complementary secondary loans; and
presenting the customer with the plurality of primary and complementary secondary loans. - View Dependent Claims (17, 18, 19, 20, 21, 22, 23, 24, 25, 26)
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27. A computerized method of automatically generating a reduced-term loan for a borrower, along with at least one primary loan, utilizing at least one loan parameter and information relating to an outstanding loan debt of the borrower, wherein the reduced term loan and the primary loan are secured by collateral information, comprising the steps of:
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applying a plurality of deal origination rules to the at least one loan parameter and the collateral information;
generating the at least one primary loan;
generating, for the reduced-term loan, a value of lendable equity in the collateral information and a reduced-term loan term duration, in accordance with a new preferred loan amount and a current rate of interest, wherein the reduced-term loan pays off at least a portion of the outstanding loan debt; and
presenting the borrower with the at least one primary loan and the reduced-term loan, wherein said presenting includes a comparison of savings if the reduced term loan is accepted by the borrower. - View Dependent Claims (28)
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29. A computerized method of automatically generating a reduced-term loan and at least two proposed primary loans, secured by collateral, based on at least one preference of a potential borrower, comprising the steps of:
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receiving from the potential borrower the at least one preference comprising an existing monthly payment amount for at least one outstanding loan debt;
receiving from the potential borrower personal information relating to the potential borrower;
real time accessing a credit history without negative impact to the credit history of the potential borrower in accordance with the personal information;
receiving from the potential borrower information relating to the collateral;
applying a plurality of loan origination rules to the at least one preference and the personal information;
applying at least one loan generation strategy to at least one results of said step of applying a plurality of loan origination rules;
generating the at least two proposed primary loans in accordance with said step of applying at least one loan generation strategy;
generating, for the reduced-term loan, a value of lendable equity in the collateral and a reduced-term loan term duration, in accordance with a new preferred loan amount and a current rate of interest, wherein the reduced-term loan pays off at least a portion of the at least one outstanding loan debt; and
presenting the potential borrower with the at least two proposed primary loans and a comparison of the reduced-term loan with the existing monthly payment amount. - View Dependent Claims (30, 31)
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32. A computerized method of verifying the viability of at least one loan alternative of an automated deal structuring system, offered to and selected by a potential borrower, based on the financial verification information of a potential borrower received from the potential borrower in response to a stipulation of the at least one loan alternative, comprising the steps of:
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receiving the verification information;
entering the verification information into the deal structuring system;
attempting to regenerate the at least one loan alternative in accordance with the verification information by;
applying automated underwriting rules to the regenerated at least one loan alternative;
verifying that the regenerated at least one loan alternative is viable in accordance to with the verification information;
scheduling a loan closing for the regenerated at least one loan alternative if said applying step and said verifying step confirm viability of the at least one loan alternative; and
providing at least one secondary loan alternative for the potential borrower, via the automated deal structuring system, if said applying step and said verifying step do not confirm the viability. - View Dependent Claims (33, 34)
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Specification