System and method for providing a custom hedged adjustable rate mortgage
OwnerCharles Uhlmann, Paul Brewerinventors
Life of this patent
Estimating the term…
Abstract
Methods, media, and systems for providing a custom hedged adjustable rate mortgage are provided. These methods, media, and systems provide hedges and mortgages that may be used in conjunction with the retail mortgage sector. To facilitate these hedges and mortgages, computer systems are provided that allow a user to calculate fees, interest rates, and payments for these products based upon various factors selected by a user. The methods, media, and systems also provide a savings calculator that enables a user to determine what savings will be made be purchasing a hedge and/or mortgage under one or more scenarios.
Claims21
A method for determining costs associated with a residential mortgage including a hedge, comprising:
- receiving from a user variables defining the residential mortgage and the hedge to be applied to the residential mortgage;
- calculating an initial rate period rate that is associated with the residential mortgage;
- displaying to the user the initial rate period rate;
- and
- for each of a plurality of durations during which the hedge may be applied to the mortgage:
- calculating a hedge period rate that applies for the duration during which the hedge may be applied to the mortgage;
- and
- displaying the hedge period rate.
A computer-readable medium containing computer-executable instructions that, when executed by a processor, cause the processor to perform a method for determining costs associated with a residential mortgage including a hedge, comprising:
- receiving from a user variables defining the residential mortgage and the hedge to be applied to the residential mortgage;
- calculating an initial rate period rate that is associated with the residential mortgage;
- displaying to the user the initial rate period rate;
- and
- for each of a plurality of durations during which the hedge may be applied to the mortgage:
- calculating a hedge period rate that applies for the duration during which the hedge may be applied to the mortgage;
- and
- displaying the hedge period rate.
A system for determining costs associated with a residential mortgage including a hedge, comprising:
- a processor that:
- receives from a user variables defining the residential mortgage and the hedge to be applied to the residential mortgage;
- calculates an initial rate period rate that is associated with the residential mortgage;
- and
- for each of a plurality of durations during which the hedge may be applied to the mortgage, calculates a hedge period rate that applies for the duration during which the hedge may be applied to the mortgage;
- and
- a display that:
- displays to the user the initial rate period rate;
- and
- for each of a plurality of durations during which the hedge may be applied to the mortgage, displays the hedge period rate.
Dependencies are inferred from the claim text.