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AssigneePartnership for community Development, LLC
InventorsPeter Joseph Fitzsimmons, Edward Willis Perry
Estimating the term…
A system and method of the invention uses an inventive contract structure to fund credit enhancements for borrowers and other community development activities. The system includes at least one collection component and a processing company. The collection component obtains insurance policy information from eligible borrowers. The processing company creates a special purpose vehicle for holding a plurality of life insurance contracts, where each of the plurality of life insurance contracts is based on the insurance policy information from at least one eligible borrower. The plurality of life insurance contracts serve as collateral for a plurality of financial instruments created by the special purpose vehicle. The special purpose vehicle also uses a residual value from the life insurance contracts to pay, for example, the premiums required by the life insurance contracts and as collateral for the plurality of the financial instruments. The system also includes means for transmitting the insurance policy information from the at least one collection component to the processing company and for using the special purpose vehicle to fund liquidity needs that are associated with the inventive system.
A system for funding credit enhancements for predefined borrowers and community development activities, the system comprises:
15 The system of claim 7, wherein the rated debt obligations and the equity interests are delivered to public financial markets.
A method for funding credit enhancements for predefined borrowers and community development activities, the method comprises the steps of:
A computer-readable medium whose contents cause a computer system to fund credit enhancements for predefined borrowers and community development activities, by performing the steps of:
Dependencies are inferred from the claim text.