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:
Jan. 01, 2013
Filed:
Apr. 28, 2008
Lisa D. Curry, Warwick, RI (US);
Cherie A. Arruda, Winchester, MA (US);
James D. Heisterkamp, Jr., Auburn, CA (US);
Donna L. Nicholson, Hanson, MA (US);
Ryan Gene Ritz, Charlotte, NC (US);
Lisa D. Curry, Warwick, RI (US);
Cherie A. Arruda, Winchester, MA (US);
James D. Heisterkamp, Jr., Auburn, CA (US);
Donna L. Nicholson, Hanson, MA (US);
Ryan Gene Ritz, Charlotte, NC (US);
Bank of America Corporation, Charlotte, NC (US);
Abstract
A line of credit with pre-agreed line increases is described. In example embodiments, the line of credit is secured by a residence, and the borrower can agree at initial closing to periodic line increases, so that additional closings and re-recording are not necessary. Modeling can be used by the financial institution to determine if and when to offer increases in the LOC. An automated servicing routine is then used to produce a recommendation with respect to increasing the LOC loan amount. This automated servicing routine includes at least one model to produce the recommendation. The line of credit can be increased if and when recommended by the servicing platform.