System for card activity-based mortgage crediting

• US 7,983,986 B1
• Filed: 06/26/2000
• Issued: 07/19/2011
• Est. Priority Date: 06/26/2000
• Status: Active Grant

• Current Assignee: Home Mortgage Card LLC
• Original Assignee: Home Mortgage Card LLC
• Inventors: Webster, Steven Earl, Carragher, Philip
• Primary Examiner(s): JOHNSON, GREGORY L
• Application Number:
  US09/604,696
• Time in Patent Office: 4,040 Days
• Field of Search: 705/14, 705/26, 705 28- 42
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

An electrical digital computer machine and a data processing system, methods of making and for using the machine, products produced thereby, as well as data structures and articles of manufacture pertaining thereto, and all necessary intermediates of that which is discussed herein, all in the field of computerized aspects of card crediting to mortgages and the like. More particularly, there is a method for card activity-based mortgage crediting, the method including the steps of: associating card activity with a mortgage of a cardholder; crediting an amount to the mortgage responsive to the card activity; and generating output including the charge card activity-based mortgage crediting; wherein at least some of the steps are carried out by a digital electrical computer.

Claims

1. A method of using an apparatus for card activity-based mortgage crediting, the method including the steps of:

providing a digital computer operably associated with an input device and with an output device;

associating, by said digital computer, data input at said input device, the data representing card activity with further input data representing a mortgage of a property, the mortgage including principal and interest;

determining, by said digital computer, a card activity reward by calculating a function responsive to the card activity of a cardholder;

receiving an allocation instruction from the cardholder, the allocation instruction selected from among a group presented to the cardholder, the group comprising allocating the card activity reward to the interest of the mortgage, allocating the card activity reward to the principle of the mortgage, and allocating the card activity reward to a combination of the interest and the principle of the mortgage;

crediting, by said digital computer, the card activity reward to a payment of the mortgage according to the allocation instruction of the cardholder, wherein if the allocation instruction corresponds during a year to crediting of the reward to the mortgage interest or to crediting of the reward to the combination, crediting the reward to produce a mortgage interest tax deduction for the year; and

generating, by said digital computer at said output device, output including the card activity reward being credited according to the allocation instruction of the cardholder.

2. The method of claim 1, wherein the allocation instruction is associated, by said digital computer, with a monthly payment of the mortgage.

3. The method of claim 2, further including:

communicating a funds transfer, including an amount determined by the reward, to the cardholder by printing a check including the amount determined by the reward,

printing a coupon including information used for carrying out payment of the mortgage with the check; and

combining the check and the coupon with a statement of the card activity in an envelope to address the envelope to the cardholder.

4. The method of claim 1, further including the step of:

communicating a funds transfer, including an amount determined by the reward, to a mortgage servicer.

5. The method of claim 4, wherein the communicating includes an electronic funds transfer, including the amount determined by the reward.

6. The method of claim 4, wherein the communicating includes:

printing a check;

printing a coupon including information used for carrying out payment of the mortgage with the check; and

combining the check and the coupon with a statement of the card activity in an envelope to address the envelope to the mortgage servicer.

7. The method of claim 1, further including the steps of:

computing a forecast reflecting the crediting of the card activity for repayment of the mortgage; and

generating, with said digital computer at said output device, output including the forecast.

8. The method of claim 7, wherein the allocation instruction is associated, by said digital computer, with an ongoing monthly payment of the mortgage.

9. The method of claim 1, further including the step of:

changing from one allocation instruction from the group to another allocation instruction of the group in response to an instruction from the cardholder received over the Internet.

10. The method of claim 1, further including the step of:

changing an allocation of the crediting of the card activity reward between the mortgage and a second mortgage in response to an instruction from the cardholder received over the Internet.

11. The method of claim 1, further including the step of:

generating, with said digital computer at said output device, output comprising the mortgage interest tax deduction computed for the year.

12. The method of claim 1, further including the steps of:

combining the crediting of the card activity reward with a non-cardholder contribution and applying the contribution along with the reward according to the allocation instruction of the cardholder.

13. The method of claim 1, further including the steps of:

combining the crediting of the card activity reward with a direct contribution and applying the contribution along with the reward according to the allocation instruction of the cardholder.

14. The method of claim 1, wherein the crediting is carried out by associating a cardholder data file with a mortgage data file.

15. The method of claim 14, further comprising

communicating, from the digital computer to a third party computer, the mortgage data file and the cardholder data file.

16. The method of claim 14, further comprising

communicating, from the digital computer to a third party computer, information from the mortgage data file and information from the cardholder data file.

17. The method of any one of claims 15, 16, further including the step of:

receiving an offer from the third party, and communicating the offer to the cardholder.

18. The method of any one of claims 1, 2, 7, 12, 13, 14, wherein the allocation instruction from the cardholder includes receiving the allocation instruction from the cardholder over the Internet.

19. The method of claim 1, further including:

allocating a portion of the crediting between the mortgage and a charity; and

issuing a tax deduction statement responsive to said crediting to the cardholder.

20. The method of claim 1, further including the steps of:

computing, with said digital computer, an annual statement of said crediting; and

communicating the annual statement to the cardholder.

21. The method of claim 20, wherein the step of computing an annual statement includes:

computing, with said digital computer, mortgage interest paid by the crediting.

22. The method of claim 1, further including:

communicating a funds transfer, including the amount determined by the reward, in carrying out the payment to a mortgage servicer.

23. The method of claim 1, wherein the group comprises

allocating the card activity reward to the mortgage and to a second mortgage.

24. The method of claim 1, further including the step of:

allocating a portion of the card activity reward between the mortgage and a charity.

25. The method of claim 1, wherein the associating includes specifying a lender of the mortgage as some of said input data to correspond with a data input screen on a monitor operably associated with said digital computer.

29. The method of any one of claims 15, 16, 26, further comprising merging the files.

26. A method of using an apparatus in carrying out card activity-based mortgage crediting, the method including the steps of:

providing a digital computer operably associated with an input device and an output device;

associating, by said digital computer, data input at said input device, the data representing card activity with further input data representing a mortgage of a property by associating a cardholder data file with a mortgage data file, the mortgage including principal and interest;

determining, by said digital computer, a card activity reward by calculating a function responsive to the card activity of a cardholder;

responding, by said digital computer, to an instruction of the cardholder to credit the card activity reward to a payment of the mortgage, by using the associated data files in allocating the card activity reward to the interest of the mortgage, allocating the card activity reward to the principle of the mortgage, or allocating the card activity reward to a combination of the interest and the principle, according to the allocation instruction; and

generating, by said digital computer at said output device, output including the card activity reward being credited according to the allocation instruction of the cardholder.

27. The method of claim 26, wherein the payment of the mortgage is a monthly payment of the mortgage.

28. The method of claim 26, further including responding, with said digital computer, to another instruction of the cardholder to change the allocating.

30. A digital electrical computer system programmed to carry out card activity-based mortgage reward crediting, the system including:

a data processing system comprising a digital electrical computer electrically connected to an input device for inputting data and to an output device;

the digital electrical computer programmed to carry out the steps of associating data input at said input device, the data representing card activity of a cardholder with further input data representing a mortgage of a property, the mortgage including principal and interest, determining a card activity reward by calculating a function responsive to the card activity, receiving an allocation instruction from the cardholder, the allocation instruction selected from among a group presented to the cardholder, the group comprising allocating the card activity reward to the interest of the mortgage, allocating the card activity reward to the principle of the mortgage, and allocating the card activity reward to a combination of the interest and the principle of the mortgage, and crediting the card activity reward to a monthly payment of the mortgage according to the allocation instruction of the cardholder,

wherein if the allocation instruction corresponds during a year to crediting of the reward to the mortgage interest or to crediting the reward to the combination, crediting the reward such that the cardholder has a mortgage interest tax deduction for the year, and to generate output including the card activity reward being credited according to the allocation instruction of the cardholder.

31. A digital electrical computer system programmed to carry out card activity-based mortgage reward crediting, including:

a data processing system comprising a digital electrical computer electrically connected to an input device for inputting data and to an output device;

the digital electrical computer programmed to carry out the operations of;

associating data input at said input device, the data representing card activity with further input data representing a mortgage of a property by associating a cardholder data file with a mortgage data file, the mortgage including principal and interest;

determining a card activity reward by calculating a function responsive to the card activity of a cardholder;

responding to an instruction of the cardholder to credit the card activity reward to a payment of the mortgage, by using the associated data files in allocating the card activity reward to the interest of the mortgage, allocating the card activity reward to the principle of the mortgage, or allocating the card activity reward to a combination of the interest and the principle, according to the allocation instruction; and

generating output including the card activity reward being credited according to the allocation instruction of the cardholder.

32. A digital electrical computer system, including:

a data processing system comprising a digital electrical computer electrically connected to an input device for inputting data and to an output device;

the digital electrical computer programmed to carry out the operations of;

crediting a reward, determined by calculating a function responsive to card activity, to only an interest component of a monthly mortgage payment, in response to receiving an instruction from a cardholder over the Internet, the mortgage payment including principal and interest components;

associating the card activity reward, determined by calculating a function responsive to card activity, with a mortgage interest tax deduction computer for the year; and

generating output including the credited reward, to produce a mortgage interest tax deduction computed for the year.

33. A method of using an apparatus in carrying out computerized card activity-based mortgage reward crediting, the method including the steps of:

providing a digital computer operably associated with an input device and an output device;

crediting, by the digital computer from input card activity, a reward, determined by calculating a function responsive to card activity, to only an interest component of a monthly mortgage payment, in response to receiving an instruction from a cardholder over the Internet, the mortgage payment including principal and interest components;

associating, by said digital computer, the card activity reward, determined by calculating a function responsive to card activity, with the interest component of a mortgage to produce a mortgage interest tax deduction; and

generating, by the digital computer at said output device, output including the credited reward.

34. An apparatus to carry out card activity-based mortgage reward crediting, the apparatus including:

a data processing system comprising a digital computer operably associated with an input device for inputting data and to an output device, the digital computer programmed to carry out the steps of;

associating data input at said input device, the data representing card activity with further input data representing a mortgage of a property, the mortgage including principal and interest;

determining a card activity reward by calculating a function responsive to the card activity of a cardholder;

receiving an allocation instruction from the cardholder, the allocation instruction selected from among a group presented to the cardholder, the group comprising allocating the card activity reward to the interest of the mortgage, allocating the card activity reward to the principle of the mortgage, and allocating the card activity reward to a combination of the interest and the principle of the mortgage;

crediting the card activity reward to a payment of the mortgage according to the allocation instruction of the cardholder, wherein if the allocation instruction corresponds during a year to crediting of the reward to the mortgage interest or crediting the reward to the combination, creating a cardholder mortgage interest tax deduction comprised of the reward crediting; and

generating output including the card activity reward being credited according to the allocation instruction of the cardholder.

35. The apparatus of claim 34, wherein the allocation instruction is associated, by said digital computer, with a monthly payment of the mortgage.

36. The apparatus of claim 35, wherein the associating includes specifying a lender of the mortgage as some of said input data to correspond with a data input screen on a monitor operably associated with said digital computer.

37. The apparatus of claim 35, further including a computer corresponding to a mortgage servicer, and wherein the digital computer communicates to cause a funds transfer, including an amount determined by the reward, to the computer corresponding to the mortgage servicer.

38. The apparatus of claim 35, further including a computer corresponding to the cardholder, and wherein the allocation instruction is communicated from the computer corresponding to the cardholder to the digital computer.

39. The apparatus of claim 35, wherein the steps further include facilitating, with some of said output, a transfer of funds, including an amount determined by the reward, to the cardholder.

40. The apparatus of claim 35, wherein the steps further include computing a forecast for repayment of the mortgage responsive to the card activity;

and wherein;

the step of generating output includes generating output including the forecast.

41. The apparatus of claim 35, wherein the steps further include changing from one allocation instruction from the group to another allocation instruction of the group in response to an instruction from the cardholder received over the Internet.

42. The apparatus of claim 35, wherein the steps further include changing an allocation of the crediting of the card activity reward between the mortgage and a second mortgage in response to an instruction from the cardholder received over the Internet.

43. The apparatus of claim 35, wherein the steps further include:

associating the card activity reward with a mortgage interest tax deduction computed for the year, and further include

generating at said output device, output including a mortgage interest tax deduction computed for the year.

44. The apparatus of claim 35, wherein the steps further include combining the crediting of the card activity reward with a non-cardholder contribution and applying the contribution along with the reward according to the allocation instruction of the cardholder.

45. The apparatus of claim 35, wherein the steps further include combining the crediting of the card activity reward with a direct contribution and applying the contribution along with the reward according to the allocation instruction of the cardholder.

46. The apparatus of claim 35, wherein the crediting is carried out by associating a cardholder data file with a mortgage data file.

47. The apparatus of claim 35, wherein the steps further include:

allocating a portion of the crediting between the mortgage and a charity; and

issuing a tax deduction statement responsive to said crediting to the cardholder.

48. The apparatus of claim 35, wherein the steps further include:

computing an annual statement of said crediting, including mortgage interest paid by the crediting; and

generating output including the annual statement, including mortgage interest paid by the crediting.

49. The apparatus of claim 35, wherein the group comprises allocating the card activity reward to the mortgage and to a second mortgage.

50. The apparatus of claim 35, further including a third party computer, and wherein the steps further include communicating, from the digital computer to the third party computer, a mortgage data file corresponding to the mortgage and a cardholder data file corresponding to the card from the digital computer to the third party computer.

51. The apparatus of claim 35, further including a third party computer, and wherein the steps further include communicating, from the digital computer to the third party computer, information from a mortgage data file corresponding to the mortgage and information from a cardholder data file corresponding to the card from the digital computer to the third party computer.

52. The apparatus of any one of claims 50, 51, wherein the third party computer communicates an offer to the cardholder.

53. The apparatus of claim 52, wherein the offer comprises a new mortgage.

54. The apparatus of claim 52, wherein the offer comprises insurance.

55. The apparatus of claim 35, further comprising a computer corresponding to the cardholder communicating with the digital computer to carry out the crediting.

56. A method of using an apparatus, the method including:

providing a data processing system comprising a digital electrical computer electrically connected to an input device for inputting data and to an output device; and

using the digital electrical computer to carry out the steps of;

associating card activity with a mortgage of a cardholder, the mortgage including principal and interest components, the associating step comprising associating a cardholder data file with a mortgage data file;

determining a reward by calculating a function responsive to the card activity of a cardholder;

crediting the reward to only an interest component of a monthly payment of the mortgage;

generating, for the cardholder, output including the card activity-based mortgage interest reward crediting; and

communicating information from one of the files to a third party computer, and the third party computer produces an offer to the cardholder.

57. The method of claim 56, wherein the offer is communicated to a computer corresponding to the cardholder.

58. A method of card activity-based mortgage reward crediting, the method including the steps of:

providing a digital electrical computer electrically connected to an input device for inputting data and to an output device; and

using the digital electrical computer to carry out the operations of;

crediting a reward, determined by calculating a function responsive to card activity, to only an interest component of a monthly mortgage payment, in response to receiving an instruction from a cardholder over the Internet, the mortgage payment including principal and interest components;

associating the card activity reward, determined by calculating a function responsive to card activity, with a mortgage interest tax deduction computer for the year; and

generating at said output device, output including the credited reward, to produce a mortgage interest tax deduction computed for the year.