JP2007524147A - Mortgage loan system - Google Patents

Abstract

The present invention is a method for providing an additional opportunity for a debit to invest in their long and short term financial securities while providing a mortgage loan to the debit. For property purchases, mortgages are valued higher than property purchase prices. The surplus is applied to at least one investment medium, so that after periodic payments are completed, the debit earns the net asset value in the real estate and at least one investment medium interest. The investment medium gives a mortgage guarantee.

Description

  The present invention relates generally to loans and mortgages. More specifically, a method is disclosed for providing a mortgage loan to a debit while additionally providing the debit an opportunity to invest in a range of investment media.

  The present invention is a method for providing an additional opportunity for a debit to invest in their long and short term financial securities while providing a mortgage loan to the debit.

  There are many traditional mortgage systems. For example, in the FixedRate Mortgage Program, the debit repays the mortgage loan amount with a monthly mortgage payment for the duration of the loan. Since the debit's monthly mortgage payment is fixed, the debit can expect to make the same monthly payment for the entire term of the loan.

  In Adjustable Rate Mortgage, the mortgage loan has a “low” starting interest rate. The “low” starting interest rate is used to calculate mortgage payments during a specific period. At the end of a certain period, the interest rate is adjusted. The interest rate is adjusted by adding a set margin determined by the credit to the interest rate selected from any one of various interest rate indicators.

  Some companies already embody systems that receive mortgage loans with a potential debit equal to 100% of real estate costs. However, these 100% mortgage loans are often subject to many restrictions, thereby preventing potential debits from qualifying for 100% mortgage loans. A potential debitor has a lower income than a specific set-up, is engaged in a specific occupation, or resides within a specific distance from a city to qualify for a 100% mortgage loan. You may be required to meet certain requirements, including being in service or serving in military service.

  The UK has already materialized a system called Modified Endowment Mortgage. The focus of this system is to clear the debit mortgage at the end of the loan term. During the loan period, the debit pays only the interest that accrues on the mortgage. Instead, any payments applied to the mortgage principal are poured into a medium that earns interest. The idea is that the medium that earns interest will accumulate enough to settle the entire mortgage principal amount by the end of the loan term. However, if interest rates decline during the loan period, the medium that earns interest may not provide enough money to fully pay the mortgage principal amount at the end of the loan period. If this happens, the homeowner must pour additional money into the medium that earns interest to pay off the mortgage principal at the end of the loan period.

  A US company has sought to embody the US version of the UK modified aging insurance mortgage system. However, the US version of the modified endowment mortgage system may be considered prohibited because US tax laws differ from UK tax laws. Under US tax law, the UK modified welfare insurance mortgage system means that debits get tax cancellations for both their monthly interest payments and interest arising from the medium that earns interest, May be considered "dipping (double-dipping)". The US version of the UK modified mortgage insurance mortgage system has not been widely marketed because "double dipping" can violate US tax laws.

  The present invention is a method for providing an additional opportunity for a debit to invest in their long and short term financial securities while providing a mortgage loan to the debit.

  The method of the present invention creates a financially sound debit while reducing the risk of today's mortgage lending practices. Furthermore, the method of the present invention complements and builds savings for the debit.

  The method of the present invention allows a loan amount to be approved for a principal amount and an investment amount, provides the principal amount to the seller of the real estate on behalf of the debit, pays the seller, and purchases one or more investment media. To provide an incidental investment in the investment medium by making regular payments for the loan amount and thereby accumulating the interest in the property and the profit in the investment medium in parallel. Advantageously, the system can be managed by a system practitioner who will act as a credit. Further, the loan is sent to the escrow agent, who passes the purchase funds of the real estate to the seller on behalf of the debit when the real estate is transferred, and passes the rest to the investor for purchasing the investment medium.

  The above and other objects, features and advantages of the present invention will be more readily understood in view of the following detailed description of the invention made in conjunction with the accompanying drawings.

  The present invention is a method for providing an additional opportunity for a debit to invest in their long and short term financial securities while providing a mortgage loan to the debit. Debits are also helped to build financial strength that can cope with unforeseen effects such as illness, unemployment, or market trends that can threaten to lose their homes.

  In the present invention, a potential debit identifies a property that the potential debit wants to purchase. The potential debit then applies for a mortgage loan from a merchant adopting the principles of the present invention. Companies that employ the principles of the present invention are companies, individuals, banks, mortgage companies, lenders, mortgage loan setters, or mortgage investors (hereinafter referred to as “System Practitioners”). It may be.

  When applying for a mortgage loan from a system practitioner, the potential debitor fills in the mortgage loan application. The mortgage loan application may be configured as a conventional mortgage loan application commonly known and used in the mortgage industry. As discussed further below, depending on how the potential debit wants to invest in their long-term or short-term financial security (“Investment Vehicle”), the potential debit It is possible to fill out a type of application. For example, if a potential debit wants to purchase a life insurance policy as an investment vehicle, the debit would be required to fill out a life insurance application. Life insurance applications will be those commonly known and used in the insurance industry.

  If a potential debit mortgage loan application is approved, funds will be provided to cover both real estate costs and investment medium costs (“mortgage principal amount”). Criteria for determining whether a mortgage loan application is approved can be determined by a system practitioner or by a system or method commonly used in the mortgage industry. For example, a system practitioner may require a debit credit report, background report, or debit health certificate.

  For the purposes of the present invention, the funds provided to a potential debit are the cost of real estate, the cost of the investment medium, the financial status of the potential debit, the type of investment medium, or an optional advance provided by the potential debit Can vary based on

  In a preferred embodiment, the system practitioner may provide funds to cover the mortgage loan principal amount. If the system practitioner is a provider that provides funds, the system practitioner passes the funds to an escrow practitioner or other similar company (collectively referred to as “escrow practitioner”). In another preferred embodiment, the system practitioner may work through a bank or other credit (collectively referred to as “credit”) to secure funds to cover the mortgage loan principal amount. If the creditor is a vendor that provides funds, the creditor passes the funds to the escrow practitioner.

  The date on which a real estate transaction is finalized, thereby transferring the property from the property seller to the debit, is commonly referred to as the “escrow closing” date in the real estate industry. At the end of the escrow, the principal amount of the property is passed by the escrow practitioner to the seller on behalf of the property to pay the principal amount of the property. The remaining funds held by the escrow practitioner are sent to a predetermined single or multiple vendors to purchase the investment medium.

The investment medium is purchased in the name of a debit and is held by a mortgage principal funding provider who can be either a system practitioner or a creditor. The system practitioner or creditor holds the investment medium as collateral. Examples of various investment media that can be purchased in the name of a debit alone or in combination include:
・ Annuities
・ Single Premium Immediate Annuities
・ Universal Life Policies
・ Certificates of Deposits
・ Guaranteed Interest Contracts
・ Mutual Funds
・ Savings Accounts
・ Zero Coupon Bonds
・ Municipal Bonds
・ Variable Life Policies
・ Whole Life Policies
Any other investment that a debit can invest in their long-term or short-term financial securities.

  During a loan period, which is a specific period that can be set by a debit, system practitioner or credit, the debit makes a mortgage payment to a mortgage loan funder, who can be either a system practitioner or a credit. Mortgage loan payments made by debits cover both the mortgage loan principal amount and interest accrued on the mortgage loan principal amount.

  FIG. 1 shows, as an example, a chart of a configuration of a mortgage loan system (The Mana Loan System) of the present invention. In particular, FIG. 1 shows the use of a mortgage loan to obtain an annuity, which in turn turns to pay insurance premiums.

  FIG. 2 is a schematic flowchart of a mortgage financing system according to the present invention as an example. FIG. 2 is a flow chart illustrating, by way of example, a mortgage and life insurance application process in accordance with the present invention. Mortgage and insurance applications are made by homeowners and then processed according to the normal standards of each industry. In the mortgage loan example, the credit history and work history are verified along with the house valuation. If all of the underwriting guidelines are met, approval is made and an instruction to execute the contract content is given by escrow. In the example of completing an insurance application, a credit check will be ordered along with the individual's health history and non-medical medical checkup. If all criteria are met, the insurance policy will be issued. After both mortgages and insurance applications are approved, the annual interest rate is fixed. Mortgage loans, annuities and insurance policies will be funded when the escrow ends.

  As an example, FIG. 3 is a table comparing the performance of the mortgage lending system (the mana loan system) of the present invention with a standard loan.

  FIG. 4 is a graph comparing the performance of the mana loan mortgage of the present invention with a standard debit mortgage as an example.

  FIG. 5 is a table comparing, as an example, the performance of the present invention with respect to the following. Banks with mana loans and mortgages, banks with standard loan mortgages, homeowners with mana loans and mortgages, and homeowners with standard mortgages.

  FIG. 6 is a table comparing, as an example, the performance of the present invention and the present invention when a mana loan homeowner can skip 16 mortgage payments.

  FIG. 7 is an exemplary 30-year loan redemption schedule of 6.25% and $ 275,000 in accordance with the present invention.

  FIG. 8 is an example 30-year loan reimbursement schedule for a 6.25% $ 55,000 according to the present invention for a 33 year old man and woman.

  FIG. 9 is an example 30-year loan redemption schedule for a 6.25%, $ 65,000 according to the present invention for a 45 year old man.

  FIG. 10 is an example 30-year loan reimbursement schedule for a 6.25% $ 58,000 according to the present invention for a 45 year old woman.

  FIG. 11 is an example 35-year loan redemption schedule of $ 25.25 at 6.25% in accordance with the present invention.

  FIG. 12 is an example 35 year loan reimbursement schedule of 6.25% and $ 55,000 according to the present invention for a 33 year old man and woman.

  FIG. 13 illustrates life insurance for a 33 year old man according to the present invention.

  FIG. 14 illustrates life insurance for a 33 year old man with a standard loan.

  FIG. 15 illustrates life insurance for a 33 year old woman according to the present invention.

  FIG. 16 illustrates life insurance for a 33 year old woman with a standard loan.

  FIG. 17 illustrates life insurance for a 45 year old man with a standard loan.

  FIG. 18 illustrates life insurance for a 45 year old woman according to the present invention.

  FIG. 19 illustrates life insurance for a 45 year old woman with a standard loan.

  FIG. The Mana Loan Amortizer program was developed to compare the mana loan system with standard loan products. The program runs within the Microsoft Excel framework and uses Microsoft Visual Basic to perform application functions. Microsoft Excel and Microsoft Visual Basic are simply the tools used to develop the software.

  FIG. 21 is a schematic diagram of a mana loan amortizer that allows a comparison for redemption with a standard loan.

  FIG. 22 shows, as an example, instructions on how to use the mana loan amortizer described above in FIG.

Instructions for using Mana Amutizer:
1. If necessary, the worksheet must be unprotected. Go to “Tools” in the menu bar and set “Protected” to “Unprotected”.
2. If necessary, the window frame must be unpinned. Go to “Window” in the menu bar and unpin the window frame.

Debit information box:
1. Clicking on the “State” cell will bring up a drop-down menu.

Mana debit details and calculations:
1. “Interest Rate” must be inserted manually.
2. For “Term”, click on the cell and a drop-down menu will appear.
3. Click on the cell for “Method of Payment”.
4). “Extra Payment every 14 Days” This reduces the principal in addition to redemption.
5). The “Loan Date” must be inserted manually and the payment date is automatically calculated accordingly.
6). “Annuity% of Home” uses the percentage of the house's selling price.
7). “Other Annuity” uses dollars instead of% for pensions.

Standard debit details and calculations:
1. Inserted manually by “Interest Rate”.
2. “Method of Payments” drop-down menu.
3. “Monthly Mortgage Ins.” Manually inserted.
4). Inserted “Monthly Policy Payment” manually.
5). “% Down Payment” inserted manually.
6). Insert the dollar amount manually instead of the “Oth Down Payment”% amount.

Redemption summary page:
The "Upon Completion Box" (left) compares the mana loan when the mana loan expires and a standard loan. To make a comparison, manually insert the “CashSurrender Value” of the insurance policy corresponding to the year of maturity.

  In the “During the Year You Specify Box” (right side), you should see that the debit costs less than the “cancellation reimbursement” for the insurance policy in the same year. is there. To make a comparison, you must manually insert a “cancellation refund” for the selected year. (Note: If you make changes on the details page, it will automatically clear the “Year” and “Cancellation Refund” cells.) If you do not want to clear the box, hit “save”.

Compare mana loan pages:
This page automatically compares all inputs from the "Details and Summary" page.

  Optimally, at the end of the loan term, the debit has repaid the mortgage loan, leaving the fully paid investment vehicle and full ownership interests and rights in the property.

An example of one preferred embodiment of the present invention:
A potential debit wants to buy a single property valued at $ 170,000 ($ 275,000.00).

  • Fill in potential mortgages on a mortgage loan application. In addition, potential debits fill out life insurance policy applications for insurance companies. Both life insurance policy applications and mortgage loan applications will be reviewed according to standards used in the insurance and mortgage industry.

  • If the life insurance policy application and the mortgage loan application are approved, the system practitioner funds the potential mortgage loan principal amount equal to 120% of the purchase price. This is equal to the mortgage loan principal amount which is the sum of $ 275,000.00 (100% of the purchase price) + $ 55,000 (20% of the purchase price) = $ 330,000. For the purposes of this example, and as discussed further below, the debit can also be “fixed” at this point to a pension percentage rate in accordance with criteria adopted in the insurance industry.

  • The mortgage loan principal amount is handed over to the escrow practitioner. At the end of the escrow, the escrow practitioner gives a total of $ 55,000 to the insurance company. Similarly, the escrow practitioner hands a total of $ 275,000 to the property seller for payment of the principal amount of the property.

  • The insurance company receives $ 55,000 and purchases at least two investment vehicles in the name of the debit.

  • Investment medium No. 1 is an annual cash-bearing instrument. In this example, the annual cash-interested security is a one-off immediate pension. The lump sum immediate annuity is purchased in the name of a debit and $ 55,000 is given to the insurance company by the escrow practitioner. The lump sum immediate annuity is suitably purchased on the escrow end date and has a percentage rate that is fixed after the debit is approved for the mortgage principal amount and life insurance policy. The first pension payment is made on the same day that the lump-sum immediate pension is purchased in the name of the debit. The initial annuity payment is then used to pay the initial premium for the life insurance policy, which is described further below. Preferably, the annuity payments are for a period of at least 4 years, and each annuity payment is used to pay an insurance premium for the life insurance policy.

  Investment medium No. 2 is a life insurance policy funded from payments received from investment medium No. 1. In a preferred embodiment, the life insurance policy is paid off in at least 7 years.

  • During the mortgage loan period, the debitor pays the mortgage loan principal to the system practitioner to repay the mortgage loan. These payments are applied to both the mortgage loan principal amount ($ 330,000 in this example) and the accumulated interest on the mortgage principal amount.

  • At the end of the mortgage loan period, the debit should preferably repay the accumulated interest on the mortgage loan principal and mortgage loan principal balance. The debit will own investment medium No. 2 that is not a mortgage, which in this example is a life insurance policy. This system can also be beneficial to non-debit parties involved in the transaction. For example, see the following items.

  Creditor or system practitioner rights: The investment medium is purchased in the name of a debit but held by a mortgage principal funder who can be either a system practitioner or a creditor. The system practitioner or creditor has the right in the investment medium as collateral until the mortgage loan and the accumulated interest on the mortgage principal amount are fully paid to the creditor or system practitioner.

  For the debit, the benefits and industrial applicability of the mortgage system of the present invention may include:

  -Quick net asset storage. Debits can build net assets in two ways. First, by mortgage payments that reduce the mortgage principal difference, and second, by the return on the investment medium.

  In a preferred embodiment, a biweekly mortgage payment schedule is utilized. The biweekly mortgage loan payment schedule pays more mortgage loan balances than the monthly mortgage loan payment schedule, thereby reducing the mortgage loan principal more quickly than if monthly mortgage loan payments were used.

  • Investment media can be transferred from real estate to real estate as collateral.

  • The investment medium will be able to cover any shortfall if the debit sells the property.

  • Preferably, if private mortgage insurance is used, the private mortgage insurance is a credit-based private mortgage insurance that is successfully incorporated into the mortgage loan. Credit-based private mortgage insurance can save debit money with tax-exempt dollars.

  If an emergency occurs and the debit cannot continue the mortgage loan payment schedule, the mortgage loan principal funder who is either the creditor or the system practitioner will collect the investment medium and pay the mortgage Continue to avoid confiscation of real estate.

  • The debit can increase the amount left to the investment medium, thereby accelerating the growth of the investment medium and allowing the debit to repay the mortgage loan on an earlier date.

  ・ No down payment is required.

  -Early payment option. In addition to an increase in policy surrender value, the option to debite the mortgage difference early is debited by reducing the loan faster with bi-weekly payments.

  For system practitioners, the benefits of the present mortgage system may include:

  • High profitability over standard “Prime” bills.

  • The mortgage lending system of the present invention does not affect the already secured portfolio of debits.

  • Since the investment medium is used as collateral, exposure to risks such as confiscation, decline in asset value (recession), or the inability of a debitor to make a mortgage loan payment is reduced.

  • If a bi-weekly payment plan is used, the mortgage loan will be reduced rapidly due to the cumulative effect of bi-weekly payments, and an increase in investment media will accelerate the build of net assets.

  If the income from the debit is interrupted temporarily, the mortgage loan principal funder, who may be either the creditor or the system practitioner, has a solid source of income from the investment medium and the mortgage You can get a loan payment. A mortgage principal funder, either a creditor or a system practitioner, is entitled to the investment medium held as collateral.

  • The debit is more likely to repeat transactions with system practitioners because the debit will transfer the investment medium as collateral for the next purchase of real estate after the debit.

  The benefits of the present mortgage system for a mortgage investor or creditor may include:

  High yield over standard good bills (potentially 75-100 basis points) standard.

  ・ Increase in loan amount. The present invention provides a new debit, from the first home buyer to a high-income profession who does not want to interfere with their portfolio to buy a house with a 660+ credit score, financial plan and a solid performance investment Will attract.

  • Additional security. The use of investment media such as pensions and insurance policies as collateral reduces the risk of exposure to credit.

  -More quickly increase net assets and reduce risk. Net assets increase at an accelerated rate due to the cumulative effect of biweekly payments that rapidly reduce mortgage principal balances and the increase in policy surrender values. Loans according to the present invention reach 60% loan-to-value by the eighth year.

  ・ Protection against payment interruption. If income from a debit or homeowner is temporarily interrupted, the mortgage investor or credit has a solid source of funds from insurance policies or other investment vehicles to continue mortgage payments.

  ・ A long-lasting debit is created. A creditor or mortgage investor will get a client or debit or homeowner who repeats the transaction by transferring their insurance policy or other investment vehicle as collateral for the next home purchase. .

  In creating a 15 cross-selling opportunity, the benefits of the mortgage system of the present invention may include:

  ・ Increase in insurance policy sales. The waiver of premiums and the addition of any number of various supplemental clauses enhances the appeal of the present invention.

  ・ Long-term persistence ratio. Since all insurance policies are paid in advance, the persistence ratio of insurance policies increases, which in turn turns into higher revenue.

  • Opportunities for financial planning. The present invention creates an environment for cross-sale and other opportunities such as municipal bonds, mutual funds, transferable time deposit certificates, pensions, additional personal loans.

  ・ Development of comprehensive financial planning opportunities. The present invention creates an opportunity to help debit or homeowners achieve their personal financial goals.

  Mana loans (trade names) can be used for loans that do not have collateral or loans that require a down payment. Having collateral or requiring a down payment may or may not reduce interest rates. Mana loans can also consist of airplanes, ships, large constructions and agricultural equipment. In other words, it is any type of secured loan that usually requires a down payment.

  The terms and expressions used in the above-described details are used as terms for description rather than limitation, and are not intended to exclude equivalents of the configurations shown or described or portions thereof. The scope of the invention is defined and limited only by the claims that follow.

It is a table | surface of the structure of the mortgage financing system (The mana loan (trademark)) of this invention as an example. 2 is a flowchart illustrating an exemplary mortgage and life insurance application process according to the present invention. FIG. 6 is a table comparing the mortgage lending system of the present invention (The Mana Loan (TM) system) with a standard mortgage as an example. As an example, a graph comparing the performance of the present invention for a standard debit. As an example, a table comparing the performance of the present invention for both standard and bank mortgage investments. As an example, is a tabular summary comparing the present invention with the performance of the present invention when a homeowner is allowed to skip mortgage payments. FIG. 4 is an example loan schedule for a principal amount of $ 275,000 in accordance with the present invention. 6 is a table showing an example of loan data for a principal amount of $ 55,000 in accordance with the present invention. FIG. 6 is an example loan schedule for a principal amount of $ 65,685 in accordance with the present invention. FIG. 7 is a table of example loan data for a principal amount of $ 58,000 in accordance with the present invention. FIG. 4 is an example loan schedule for a principal amount of $ 275,000 in accordance with the present invention. FIG. 4 is a table of example loan data for a principal amount of $ 55,000 in accordance with the present invention. An example is a life insurance policy. An example is a life insurance policy. An example is a life insurance policy. An example is a life insurance policy. An example is a life insurance policy. An example is a life insurance policy. An example is a life insurance policy. Shows the framework of the mana loan amortizer. FIG. 2 is a schematic diagram of a mana loan amortizer that enables the redemption schedule of the present invention. Instructions on the use of mana lawn amortizers.

Claims (21)

A method for providing a mortgage loan to a debiter,
a. Identifying real estate,
b. Applying for a mortgage loan,
c. Obtaining approval for the mortgage loan application;
d. Receiving the principal amount of a mortgage loan that covers the cost of the property and at least one investment medium;
e. Giving the seller the funds corresponding to the cost of the real estate from the principal amount of the mortgage loan;
f. Purchasing at least one investment medium with funds from the principal amount of the mortgage loan;
g. Making mortgage payments, and h. Obtaining a benefit in the at least one investment medium and the real estate.   The method of claim 1, wherein the mortgage payment is during a loan term.   The method of claim 1, further comprising holding the at least one investment medium as collateral for the mortgage loan prior to giving full ownership as part of step (h).   4. The method of claim 3, wherein the collateral property is held by a creditor.   The method of claim 4, wherein the credit is a system practitioner.   4. The method of claim 3, further comprising making a periodic payment for the mortgage loan.   The method of claim 6, wherein if the periodic payment cannot be made, funds are applied from the at least one investment medium to the mortgage loan equal to the periodic payment. A method of executing a loan repayment plan,
a. Determining the amount of principal loan provided to the debit,
b. Determining the amount of additional loans provided to the debit,
c. Determining the repayment period,
d. Providing the principal loan amount;
e. Providing the investor with the additional loan amount;
f. Purchasing at least one investment medium with funds from the additional loan amount;
g. Granting loan repayment increments during said repayment period; and h. Knowing interest on the at least one investment.   9. The method of claim 8, wherein the loan is a real estate mortgage.   The method of claim 9, wherein a creditor provides the principal loan amount and the additional loan amount.   11. The method of claim 10, wherein the creditor receives interest on the at least one investment medium as collateral for the real estate mortgage.   11. The method of claim 10, including the step of collecting system application criteria from the debit prior to step (c).   13. The method of claim 12, further comprising the step of providing the principal loan and the additional loan amount to the escrow by the system practitioner prior to step (f).   14. The method of claim 13, further comprising the escrower providing the loan amount to a seller and providing the additional loan amount to the investor.   The method of claim 14, wherein the investor is the system practitioner.   15. The method of claim 14, wherein the investor is a financial institution.   The investment medium includes: pension, lump-sum payment annuity, comprehensive life insurance policy, transferable term deposit certificate, interest rate guarantee contract, mutual fund, savings account, zero coupon bond, local bond, variable life insurance policy, lifetime life insurance policy, 9. The method of claim 8, wherein the method is at least one of financial securities investments.   9. The method of claim 8, wherein the additional loan amount is approximately 20 percent of the principal loan amount.   A method of setting a real estate mortgage that provides a collateral-guaranteed investment in an investment medium, receiving approval of a principal amount and a loan amount for the investment amount, and providing the principal amount to the seller of the real estate Appropriating the investment amount to purchase at least one investment medium, and making periodic payments for the loan amount, thereby accumulating the net asset value in the real estate and the interest of the at least one investment medium in parallel A method comprising substantially doing.   20. The method of claim 19, further comprising first and second investment media, wherein the first investment media is an annuity and the second investment media is an insurance policy. 20. The method of claim 19, wherein after purchasing the annuity, the insurance policy is applied, thereby providing a guarantee of the loan amount.

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