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:
Feb. 19, 2013
Filed:
Feb. 17, 2010
Grant F. Miles, Salinas, CA (US);
Shelley C. Turner, Elmhurst, IL (US);
Richard M. Bair, Lisle, IL (US);
Roy M. Witt, Charlotte, NC (US);
Peter A. Sesterhenn, Libertyville, IL (US);
Manping Wang, Portland, OR (US);
Jin Peng, San Jose, CA (US);
Yew-young Loo, Chicago, IL (US);
Ozgen Sayginsoy, Lisle, IL (US);
Michael A. Beene, Rolling Meadows, IL (US);
Nikhil N. Mehra, Chicago, IL (US);
Ian J. Rehmert, Oak Park, IL (US);
Grant F. Miles, Salinas, CA (US);
Shelley C. Turner, Elmhurst, IL (US);
Richard M. Bair, Lisle, IL (US);
Roy M. Witt, Charlotte, NC (US);
Peter A. Sesterhenn, Libertyville, IL (US);
Manping Wang, Portland, OR (US);
Jin Peng, San Jose, CA (US);
Yew-Young Loo, Chicago, IL (US);
Ozgen Sayginsoy, Lisle, IL (US);
Michael A. Beene, Rolling Meadows, IL (US);
Nikhil N. Mehra, Chicago, IL (US);
Ian J. Rehmert, Oak Park, IL (US);
HSBC Finance Corporation, Mettawa, IL (US);
Abstract
Embodiments of the invention include a computer implemented method for automatically modifying the terms of a plurality of mortgages within a portfolio of mortgages, such that, monthly payments for the plurality of mortgages are reduced. The method includes calculating a current net present value for each of the mortgages in the portfolio of mortgages. The method also includes calculating a plurality of future net present values for each of the mortgages in the portfolio, each future net present value corresponding to one set of modified loan terms. The method also includes selecting the largest calculated future net present value. The method also includes automatically modifying the loan terms of each of the plurality of mortgages where the largest future net present value is greater than the current net present value. Loan terms are modified to correspond to the modified loan terms resulting in the largest net present value.