Systems and methods for facilitating financial transactions involving bundles of properties
First Claim
1. A method for assessing the value of a set of real properties, the method comprising:
- receiving data related to a set of properties, wherein each property is associated with two or more mortgages and a short sale offer;
for each property in the set of properties,determining, by a computer system that comprises one or more computing devices which comprise one or more hardware processors, an expected property value if the property falls into foreclosure;
determining, by the computer system, potential losses avoided by a holder of a primary mortgage associated with the property if the short sale offer is accepted, the determining based at least partly on the determined expected property value and an offer amount of an associated short sale offer; and
determining, by the computer system, potential losses realized by a holder of a junior mortgage associated with the property if the short sale offer is accepted, the determining based at least partly on the determined expected property value and the offer amount of the associated short sale offer;
identifying, by the computer system, a first plurality of properties, within the set of properties, in which a first financial institution is a holder of primary mortgages associated with the first plurality of properties and a second financial institution is a holder of junior mortgages associated with the first plurality of properties;
identifying, by the computer system, a second plurality of properties, within the set of properties, in which the first financial institution is a holder of junior mortgages associated with the second plurality of properties and the second financial institution is a holder of primary mortgages associated with the second plurality of properties; and
determining, based on the determined potential losses avoided and realized for each property in the first and second pluralities of properties, aggregate amounts of losses avoided and losses realized for the mortgage holders for the first and second pluralities of properties, to facilitate an exchange of mutual release of junior mortgages by the first and second financial institutions to facilitate short sales of the first and second pluralities of properties.
10 Assignments
0 Petitions
Accused Products
Abstract
A system is disclosed for identifying potential short sale transactions that can be bundled or combined to produce a beneficial result to the financial institutions involved. Embodiments are directed to the identification of properties matching certain criteria that make them likely candidates for a short sale transaction. Other embodiments disclosed herein assess the value of identified properties and associated mortgages to facilitate short sale transactions, so that mortgage holders can have an accurate assessment of potential losses involved in short sale and foreclosure situations where multiple mortgages are involved. One embodiment provides an assessment of estimated potential losses realized by secondary mortgage holders and/or losses avoided by primary mortgage holders in proposed short sale situations. The assessment enables financial institutions involved in certain short sales to offset losses realized and/or avoided with those financial institutions that may have opposite mortgage positions (primary vs. secondary) on other properties.
22 Citations
34 Claims
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1. A method for assessing the value of a set of real properties, the method comprising:
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receiving data related to a set of properties, wherein each property is associated with two or more mortgages and a short sale offer; for each property in the set of properties, determining, by a computer system that comprises one or more computing devices which comprise one or more hardware processors, an expected property value if the property falls into foreclosure; determining, by the computer system, potential losses avoided by a holder of a primary mortgage associated with the property if the short sale offer is accepted, the determining based at least partly on the determined expected property value and an offer amount of an associated short sale offer; and determining, by the computer system, potential losses realized by a holder of a junior mortgage associated with the property if the short sale offer is accepted, the determining based at least partly on the determined expected property value and the offer amount of the associated short sale offer; identifying, by the computer system, a first plurality of properties, within the set of properties, in which a first financial institution is a holder of primary mortgages associated with the first plurality of properties and a second financial institution is a holder of junior mortgages associated with the first plurality of properties; identifying, by the computer system, a second plurality of properties, within the set of properties, in which the first financial institution is a holder of junior mortgages associated with the second plurality of properties and the second financial institution is a holder of primary mortgages associated with the second plurality of properties; and determining, based on the determined potential losses avoided and realized for each property in the first and second pluralities of properties, aggregate amounts of losses avoided and losses realized for the mortgage holders for the first and second pluralities of properties, to facilitate an exchange of mutual release of junior mortgages by the first and second financial institutions to facilitate short sales of the first and second pluralities of properties. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17)
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18. A system for determining for assessing the value of a set of real properties, the system comprising:
a computerized system comprising one or more computing devices which comprise one or more hardware processors and memory, said computing devices configured to implement at least; a data storage for receiving data related to a set of properties, wherein each property is associated with two or more mortgages and a short sale offer; and a bundle assessment system configured to use the data in said data storage to; for each property in the set of properties, determine an expected property value if the property falls into foreclosure; determine potential losses avoided by a holder of a primary mortgage associated with the property if the short sale offer is accepted, the determining based at least partly on the determined expected property value and an offer amount of an associated short sale offer; and determine potential losses realized by a holder of a junior mortgage associated with the property if the short sale offer is accepted, the determining based at least partly on the determined expected property value and the offer amount of the associated short sale offer; identify a first plurality of properties, within the set of properties, in which a first financial institution is a holder of primary mortgages associated with the first plurality of properties and a second financial institution is a holder of junior mortgages associated with the first plurality of properties; identify a second plurality of properties, within the set of properties, in which the first financial institution is a holder of junior mortgages associated with the second plurality of properties and the second financial institution is a holder of primary mortgages associated with the second plurality of properties; and determine, based on the determined potential losses avoided and realized for each property in the first and second pluralities of properties, aggregate amounts of losses avoided and losses realized for the mortgage holders for the first and second pluralities of properties, to facilitate an exchange of mutual release of junior mortgages by the first and second financial institutions to facilitate short sales of the first and second pluralities of properties. - View Dependent Claims (19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34)
Specification