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:
Mar. 06, 2012
Filed:
Nov. 15, 2006
David H. Rupp, Charlotte, NC (US);
Colin D. Mccormick, Charlotte, NC (US);
Cherie A. Arruda, Arlington, MA (US);
Lisa D. Curry, Warwick, RI (US);
Michael Teichman, Medfield, MA (US);
David H. Rupp, Charlotte, NC (US);
Colin D. McCormick, Charlotte, NC (US);
Cherie A. Arruda, Arlington, MA (US);
Lisa D. Curry, Warwick, RI (US);
Michael Teichman, Medfield, MA (US);
Bank of America Corporation, Charlotte, NC (US);
Abstract
A predictive model for use in providing an equity release (reverse mortgage) financial product is disclosed. In at least some embodiments, a plurality of representative loans are created, wherein each loan can be characterized by a borrower type and a mortality table. A plurality of joint interest rate and house price scenarios are also created. Each of the representative loans can be run through each of the joint interest rate and house price scenarios to measure profitability metrics. The model can also be used to determine loan-to-value (LTV) ratios based on considerations including borrower age, loan volume sensitivity, a determined profit-maximizing LTV ratio, and geographic market considerations.