The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Jun. 22, 2010
Filed:
Dec. 12, 2007
Robert J. Burns, Sterling, VA (US);
Mustafa Chowdhury, Vienna, VA (US);
Patricia M. Dodson, Herndon, VA (US);
Cathy A. Gay, Vienna, VA (US);
Marian J. Gora, Leesburg, VA (US);
Mark D. Hanson, Potomac, MD (US);
Gary D. Kain, Herndon, VA (US);
Gregory J. Parseghian, McLean, VA (US);
Cindy K. Smith, Vienna, VA (US);
Robert W. Aufdenspring, Orlando, FL (US);
Stanley J. Kon, Chapel Hill, NC (US);
William F. Quinn, Washington, DC (US);
Robert J. Burns, Sterling, VA (US);
Mustafa Chowdhury, Vienna, VA (US);
Patricia M. Dodson, Herndon, VA (US);
Cathy A. Gay, Vienna, VA (US);
Marian J. Gora, Leesburg, VA (US);
Mark D. Hanson, Potomac, MD (US);
Gary D. Kain, Herndon, VA (US);
Gregory J. Parseghian, McLean, VA (US);
Cindy K. Smith, Vienna, VA (US);
Robert W. Aufdenspring, Orlando, FL (US);
Stanley J. Kon, Chapel Hill, NC (US);
William F. Quinn, Washington, DC (US);
Federal Home Loan Mortgage Corporation, McLean, VA (US);
Abstract
A current mortgage price indicator futures contract ('Mortgage Futures Contract') that can be traded on a futures exchange is described. The contracts add value over existing hedging and speculating alternatives by meeting the needs of a wide range of mortgage and mortgage-backed securities (MBS) market participants such as portfolio managers, dealers, hedgers, originators, speculators and arbitrageurs. The Mortgage Futures Contract is based upon conventional MBS and has a relatively current coupon composition, thereby resulting in risk properties that appeal to market participants more so than prior contracts based on non-conventional MBS that were not correlated to current MBS production. The Mortgage Futures Contract has a cash settlement feature designed to eliminate complicated and largely uneconomic physical delivery of the underlying security. A options contract corresponding to the Mortgage Futures Contract and that can be traded on a futures exchange is also described.