Loan payoff calculator system and method

A data processing system having a processor coupled to a computer readable storage medium for reporting loan payoff information, comprising:

• acquisition logic configured to receive loan information regarding a loan, wherein the loan information includes loan terms, interest rate, unpaid principal balance, and/or payoff premium information;
• payoff calculation logic comprising the processor that is in communication with the computer readable storage medium that stores a program that when executed by the processor causes the processor to accept loan information and generate a payoff quote for a plurality of loans, at least one of the plurality of loans having different prepayment terms than another one of the plurality of loans, the payoff quote including:
• (i) a prepayment premium for premature satisfaction of the loan, wherein the prepayment premium for the at least one of the plurality of loans is generated using a different algorithm than a prepayment premium algorithm used for the another one of the plurality of loans based on the different prepayment terms;
• (ii) a total payoff amount for the premature satisfaction of the loan;
• user interface logic configured to communicate the payoff quote via a network;
• and
• wherein the processor determines the prepayment premium based on a reason the total payoff amount was requested.

A data processing system having a processor coupled to a computer readable storage medium configured to generate a graphical user interface for reporting loan payoff information, comprising:

• payoff calculation logic comprising the processor that is in communication with the computer readable storage medium that stores a program that when executed by the processor causes the processor to accept loan information and generate a payoff quote for a plurality of loans, at least one of the plurality of loans having different prepayment terms than another one of the plurality of loans, the payoff quotes including:
• (i) a prepayment premium for a premature satisfaction of a loan, wherein the prepayment premium for the at least one of the plurality of loans is generated using a different algorithm than a prepayment premium algorithm used for the another one of the plurality of loans based on the different prepayment terms;
• (ii) a total payoff amount for the premature satisfaction of the loan;
• user interface generation logic configured to display the payoff quote;
• and
• wherein the processor determines the prepayment premium based on a reason the total payoff amount was requested.