Computerized systems and methods for facilitating the flow of capital through the housing finance industry

US6988082B1 · kind B1 · utility

Assignee

• Fannie Mae · US

Inventors

• Michael John Williams · Landrum, US
• David N. Voth · Oakton, US
• Kimberly J. Hirsch · Reston, US
• Michael Koch · Radebeul, DE
• Peter G. Kopperman · Bethesda, US
• Richard N. Plotnick · McLean, US
• Martin Schulz · Brenham, US
• Peter Simon · Aalen, DE

Key dates

• Filing date: Dec 30, 2002
• Grant date: Jan 17, 2006
• Expiry date: Dec 30, 2022

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/12
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Computerized systems and methods facilitate the flow of capital through the housing finance industry. A system for determining an interest rate quote and points for a mortgage loan that are specific to a borrower includes input means for obtaining borrower and mortgage loan information, means for retrieving underwriting characteristics and means for calculating the interest rate quote and points based on the borrower and mortgage loan information and based on the underwriting characteristics. The means for calculating includes means for retrieving a required yield which reflects market conditions in a secondary mortgage market including being indicative of a price that can be obtained for the mortgage loan in the secondary mortgage market. The calculating means also includes means for determining an adjustment to the required yield associated with the mortgage loan based on credit risk posed by the borrower, the credit risk adjustment being determined as a function of at least a credit score, a loan-to-value ratio, and a mortgage loan purpose for the mortgage loan and the borrower. The calculating means further includes means for determining other adjustments to the required yield …