US 8,799,155 B2 · Mortgage matching system and method

Abstract

A computer-implemented method is disclosed for rewarding mortgage customers of a financial institution with a reward payment amount. The method includes providing enrollment in a mortgage matching system to eligible mortgage customers, wherein eligibility requirements include the requirement that eligible mortgage customers hold both a mortgage account and a checking account with the financial institution. The method additionally includes enabling the customer to make periodic mortgage payments from the checking account to the mortgage account and monitoring continued compliance with the eligibility requirements and submission of the periodic payments using a monitoring engine implemented by at least one computer processor. The method further includes determining a reward payment amount to be made by the financial institution to each complying mortgage customer using a fulfillment engine implemented by the at least one computer processor, wherein the reward payment amount is a predetermined percentage of principal and interest.

Claims34

Dependent claims

A computer-implemented method for implementing a rewards program for rewarding mortgage customers of a financial institution with a reward payment amount, the method comprising:

providing enrollment in a mortgage matching system to eligible mortgage customers, wherein eligibility requirements include the requirement that eligible mortgage customers hold both a mortgage account and an additional account with the financial institution and that each monthly mortgage payment is automatically paid from the additional account;
monitoring continued compliance with the eligibility requirements by a monitoring engine implemented by at least one computer processor;
terminating enrollment of non-compliant mortgage customers in the rewards program;
determining a reward payment amount to be made by the financial institution to each complying mortgage customer using a fulfillment engine implemented by the at least one computer processor, wherein the reward payment amount is a predetermined percentage of principal and interest paid by each complying mortgage customer during a predetermined time period;
providing the customer with multiple selectable locations for depositing the calculated reward payment amount to allow the customer to pre-select a location;
and
transferring the calculated reward payment amount to the pre-selected location for each complying mortgage customer, wherein the pre-selected location is accessible to the corresponding complying mortgage customer.

4 more elements

A computer-implemented mortgage matching system for implementing a rewards program rewarding mortgage customers of a financial institution with a reward payment amount, the system comprising:

at least one computer memory storing instructions for implementing a mortgage rewards program;
and
at least one computer processor programmed for accessing the stored instructions and performing steps including;
enrolling eligible mortgage customers in the mortgage matching system, wherein eligibility requirements include the requirement that eligible mortgage customers hold both a mortgage account and an additional account with the financial institution and that each monthly mortgage payment is automatically paid from the additional account;
monitoring continued compliance with the eligibility requirements and submission of the periodic payments;
terminating enrollment of non-compliant mortgage customers in the rewards program;
determining a reward payment amount to be made by the financial institution to each complying mortgage customer, wherein the reward payment amount is a predetermined percentage of principal and interest paid by each complying mortgage customer during a predetermined time period;
receiving a user selection for transfer of the calculated reward payment to a pre-selected location;
and
transferring the calculated reward payment amount to the pre-selected location for each complying mortgage customer, wherein the pre-selected location is accessible to the corresponding complying mortgage customer.

7 more elements

Dependencies are inferred from the claim text.

Mortgage matching system and method

Life of this patent

Mortgage matching system and method

Life of this patent

Abstract

Claims34