JPH06301706A - Data processing system for condition computation of finance based on mortgage thing matter rise share - Google Patents

Abstract

PURPOSE: To provide a data processing system which calculates the optimum value of combinations of a loan, a revised limit amount of a credit loan, postponement of installment payment. etc., by taking the appreciated value of a real property held by a debtor as security. CONSTITUTION: This system which selectively decides the appropriate balance between credit load parameters associated with a reendorsed mortgage(REM) loan taking the appreciated value of a real property held by a debtor as security performs the management of the ratio of risk associated with the credit load by the postponement of annual installment applying a parallel single rate of interest so that a future surplus can be paid in advance at a starting day decided by the system based on the demand from the debtor. When the data required for specific calculation are inputted to a data processing system, the appropriate limit amount of the credit load to the debtor and the amount of the annual installment can be calculated and main problems about a REM financial commodity can be solved.

Description

Detailed Description of the Invention

[0001]

FIELD OF THE INVENTION This invention relates generally to multiple individual account processing systems for mortgage analysis, and more particularly to evaluating selected inputs corresponding to one of multiple mortgage lending accounts. And a data processing system designed to determine the optimal value of the terms and conditions for an under-net mortgage loan offer.

[0002]

BACKGROUND OF THE INVENTION The rise in real estate prices over the last decade has created an unprecedented accumulation of wealth in the physical assets of many people. There are many examples of stories of manual workers who find themselves in a house that has risen significantly from the price at the time of purchase. As the population ages as a whole, a considerable percentage of people feel that their wealth accumulated is fixed in their homes and cannot be diverted.

It is probably accidental for the aging generations in the United States to obtain such wealth, of course, due to purchasing power inflation based on the fixed income of those generations and the return on investment from other assets. Very few parts are used as defense measures against blindness. To make a profit from this wealth requires severe willingness and stress, especially for senior homeowners. More specifically, inflation-declined pension income is often not sufficient to fund the basic living costs of active retirees. Although these homeowners are "theoretically" wealthy, they have poverty because they have a very limited surplus. Because the foundation of the property lies in the home and there is a strong desire to continue to live in that home, those pensioners who own the home are forced to make difficult choices in financing their future needs.

With the increasing number of cases of people in the situations described above, a new form of mortgage lending has been introduced. That is, financial institutions have begun to offer homeowners credit lending based on the net value of their homeowners over the past few years. Since this form of credit lending is deferred until the sale of the house, it is more than the traditional second mortgage-based loan or the net house price. That is, the lending is structured in the form of a continuous flow of funds over a period of time corresponding to the net price level of the house. Therefore, the homeowner can continue to live in the homeowner for the loan period while receiving the monthly payment for living expenses. This form of lending is
Known as e equity mortgage-REM), it is becoming increasingly popular with people who own most of their assets in the form of high-value real estate.

REM products are undoubtedly an important and valuable advance in the financial industry. However, although currently growing and rising in popularity, REM contains attributes and features that cannot meet the needs of many prospective users. That is, REM is a fixed mechanism with a fixed upper limit period and upper limit amount of money, and if the upper limit is exceeded, the homeowner is forced to sell the mortgaged house and depend on his close relatives. There are also cases. Furthermore, the net price of a house is affected by fluctuations in the market price, which makes it difficult to perform REM. Also, if the assembly is not proper, the lender will have a loan that lacks the required mortgage.

[0006]

Therefore, one object of the present invention is to provide a plurality of REMs whose real estate is a mortgage.
It is to provide a data processing system for managing a loan. Another object of the present invention is to provide a system for managing individual loan accounts that combines the characteristics of back mortgage loans and the characteristics of single premium deferral annual installment so as to secure a continuous surplus inflow based on insurance statistics. Is to provide.

Another object of the present invention is to provide a system for evaluating individual offers for REM loans and determining an appropriate level of loans and a set of loan terms.

[0008] Yet another object of the present invention is to provide a mortgage allocating REM loan financial product which can be executed and traced on a data processing system.

[0009]

The above and other objects of the present invention can be realized in the illustrated REM account data processing system. The system includes a database store that stores data for multiple individual accounts. The accounts correspond respectively to loans to account subscribers or borrowers who receive periodic payments according to their accumulated lending parameters. The data of the individual account contents is stored in the storage device and is constantly updated by the system administrator. In addition, these lending accounts are combined with single premium deferral installments with selected characteristics that meet the risk reduction characteristics determined by the requirements of the individual account.

According to various features of the invention, the loan is ultimately repaid from the gain on sale of the mortgaged real estate. The repayment date is uncertain and is usually fixed by the death of the account subscriber or borrower. To reduce the risk associated with uncertain loan expirations, the system operates a single deferred deferral installment that provides surplus reserves at the time the mortgage value is exhausted.

The above features will be more fully appreciated from the following description of specific embodiments with reference to the drawings.

[0012]

DETAILED DESCRIPTION OF THE INVENTION In general terms, the data processing apparatus of the present invention provides two separate functions for forming the financial system described above. The first function of the present invention is to determine an optimal combination of a loan amount and a deferred annual installment amount suitable for reducing the risk rate of the borrower and the lender. In essence, the assets that serve as collateral for loans are valued at both their present and future value. The borrower's age is then taken into account for an insurance statistical assessment of future surplus requirements over the life of the borrower. Next, subtract the net value of the dwindling house and the potential income required for living until the exhaustion of the net value,
Based on the calculation result, a group of lending parameters is calculated as an optimum credit lending form to the borrower.

Based on the above summary, a specific embodiment of the invention will now be described. Referring to FIG. 1, the first step for determining the optimal combination for a borrower is:
It is to decide the appraisal amount (# 2) of the borrower's real estate. Perform this assessment (# 1) and enter that value into this system. If the value of the property is below a predetermined lower limit, a message is printed that the property is unfit for back mortgage. If the value of the real estate is above the lower limit (# 3), it is considered suitable for back mortgage. At this stage, as shown in # 4, the borrower chooses to retain a certain amount of the net value of the house and not include it in the back mortgage. This reservation, called the borrower's selective reservation, is guaranteed unless the house has been destroyed and not rebuilt. Next, as shown in # 5 of the figure, this borrower's selective reservation is deducted from the assessed amount, and the difference is called the starting house price (# 6). If the starting house price is higher than the predetermined upper limit value or lower than the predetermined lower limit value (# 7), a message that the property is not suitable for back mortgage is printed. If the starting house price falls within the upper and lower limit values, the price is multiplied by 0.2 and subtracted from the starting house net price (# 8). The balance of the deduction is the standard amount, and the monthly payment amount is determined from this amount.

As shown in # 10 of FIG. 1, two factors are used in addition to the reference amount to calculate the future value of the reference amount (# 13). One of them is the rate of appreciation, which is determined by the lender (# 11). This rate may vary from loan project to loan project or region to region, and may be constant for people subject to similar conditions.

Another factor is the number of unit periods (# 12) until the start of deferred annual installment payment. This system must first carry out deferred start date calculation (# 14) and accumulate the number of unit periods between the loan start date (# 15) and the deferred start date (# 14). In the first round of using this system, the deferred start date is equal to the age-related life expectancy of the elderly. Life expectancy is borrower age (# 1
8) Access and determine the corresponding interim life expectancy table (# 17) (# 16). Once the deferred start date is determined, the system calculates the number of unit periods from the loan start date to the deferred start date (# 14).

As a part of numerical optimization by this mechanism,
In this system, the monthly payment is recalculated six more times by recounting the number of unit periods (# 12) until the start of deferred annual installment payment. To recount the number of unit periods leading up to the deferred annual installment payment start date, the system selects three start dates on either side of the life expectancy value. This point will be described in more detail.

When the number of unit periods is known, the future value (# 13) of the reference amount is increased (# 11) and the reference value (# 13).
9) is used. Next, the future value of the reference amount is set to 0.
It is multiplied by 2 and subtracted from the future value (# 13) of the reference amount to calculate the lending real estate price future value (# 19).

From the future value of real estate price that can be loaned, the annual installment amount, contract conclusion cost, credit loan limit, lump-sum payment amount, VISA credit loan limit, etc. Subtract future values calculated at the above rates for all prior acquisition rights. The determination of these costs and other amounts will be described in detail below.

The total contract conclusion cost (# 20) is determined outside the system and manually entered into the system (1) insurance premiums (# 21), (2) registration fee and unsealed certificate fee (# 22). ), (3) House repair costs (# 23)
--- That is, the repair work to be completed immediately after the start of the loan, and as part of the loan start procedure, the cost of the repair work to be performed within the range specified by the contractor based on the result of the termite damage presence inspection, and (4) Assessment The fee (# 24) and the loan start fee (# 25) calculated by multiplying the loanable future real estate price (# 19) by 0.15. The sum of the above four costs is the contract conclusion fee (# 2) that the borrower must pay from the back mortgage receipt.
0).

For a borrower who chooses to receive a payment lower than the maximum monthly payment amount due to the back mortgage, the credit limit can be revised (# 26). If the borrower does not use up to the credit limit, within that range, the credit limit will increase at a specified loan interest rate over time and the increase will reach the maximum limit on the annual payment date. Continue until you reach it. The details of the calculation of the above maximum amount in this system are as follows.

Once the credit line limit has been calculated, it can be provided to the borrower in one of four formats: That is, (1) the maximum amount of revolving credit for a VISA credit card that does not require a fee (that is, the maximum loan amount can be reduced, redeemed, or re-reduced at a required frequency), and (2) it can be reduced at any time. There is no credit redemption required until the redemption of the back mortgage, (3) One-time payment of the same amount as or less than the credit credit limit, or (4)
It is one of four ways to increase the monthly payment of back mortgage loans. Borrowers may also choose some combination of these four forms, as long as the maximum credit limit is not exceeded.

This system calculates the credit limit.
Referring to FIG. 2, the first step in this calculation is to determine the future real estate price value (# 50). The inputs for calculating the future price are the assessed value of the real estate (# 2), the number of unit periods until the start of the deferred annual installment payment (# 12), and the appreciation rate (# 11). A real estate price future value (# 50) is calculated from these input data generated in the system. Next, multiply this future real estate price by 0.8 (#
51). If the lender requests, the amount can be further reduced by multiplying the future real estate value by 0.8 or by other factors (# 52). By the above-mentioned processing, the lending real estate price future value (# 19) is calculated. The difference (# 54) between the loanable future real estate price (# 19) and the real estate future price (# 53) is the credit limit maximum future (# 54). The future credit / credit limit amount is converted into the present value, and the future credit / credit limit amount (# 55) value to be paid at this stage of the system is calculated.

Instead of the above process, the borrower can specify the conversion result of the loan limit amount to the current value when the loan is started. In this alternative process, the credit limit (#
Input the current value of 55) to proceed the calculation. The above input value is 10% of the lending real estate price future value (# 19)
Do not exceed 50%.

The future mortgage loan value (# 53) is calculated using the following inputs to the system. That is,
(1) The desired monthly payment (# 33) specified by the borrower, that is, the amount that the system checks against the highest monthly payment to confirm that the desired monthly payment does not exceed the monthly payment limit, ( 2) Interest rate on back mortgage loan (# 32), (3) Number of unit period until the start of deferred annual installment payment (# 12) and (4) Contract conclusion cost (# 30)
Is. Upon receipt of these data, the future mortgage loan value (# 53) is calculated. The number of unit periods until the start of deferred annual installment payments is shortened every day, while the future credit lending limit increases accordingly. That is, if the borrower has not yet utilized the credit limit, the credit limit will increase over time.

After calculating the future credit limit amount (# 54), the current credit limit amount is calculated. The input data for calculating the present value is (1) the future value (#
54), (2) the number of unit periods until the due date (# 12),
And (3) the interest rate (# 32) on the back mortgage loan. By calculating this current value, the credit limit current value is obtained.

At this stage, it is checked whether or not the current credit lending amount is greater than 10% to 50% of the current real estate appraisal amount (# 2). The current credit lending limit is 10 of this assessed amount (# 2) at the start of lending.
% To 50%. If the result of the check indicates that the current limit value is greater, the desired credit lending limit should be reduced and the operation repeated until the result of the check is negative. If the amount is less than 10% to 50% of the assessed amount, then the only option available is the form of credit borrower credit (# 55) utilization. Regardless of what form the borrower chooses, the total amount of loans in those selected forms shall not exceed the current credit limit (# 55).

Returning to FIG. 1, the data processing of this system addresses the following subsystems individually. "House repair reserve (# 27)": Regardless of whether or not the borrower makes a selection, a portion of the credit limit can be used for the house repair reserve. This reserve is the Home Health Care Index at the start of the loan.
Calculated by applying x) to various required repair items.

"Annual installment cost (# 33)": The annual installment cost is determined using the comparison table (# 34). This comparison table (# 3
The variables necessary to use 4) are (1) calculated deferred start 1 (# 14, 16), and annual installment expense table (# 3).
5).

"Pre-acquisition right (# 28)": If the real estate in question still has obligations associated with unpaid mortgages or other pre-acquisition rights, those prior to setting a back mortgage for that real estate You must get rid of your obligations. The back mortgage must be the No. 1 pre-acquisition right set for the property.

“House repair cost (# 23)”: House repair cost for construction that should be completed immediately after the start of the loan, and is calculated by the termite damage survey result and an independent contractor as part of the loan start procedure. It was the cost.

At this stage of the system, the contract conclusion cost (# 20), the current credit limit amount (# 55), the annual installment cost (# 33), and the prior acquisition right cost (# 28) are all added. (# 30), the amount is subtracted from the lending real estate price future value (# 19). The difference is the net reference amount, and the monthly payment amount is calculated from this reference amount (# 36). Entering the selective retention net value (# 4) and the borrower's previous selections for credit lending limits, the system can calculate the back mortgage monthly payment using the following variables: That is, (1) net reference amount (# 36), (2) interest rate (# 32), and (3) number of unit periods until the start of deferred annual installment payment (# 12).

Once the monthly payment is calculated (# 37), the borrower decides whether the amount is too high. If you decide that it is too high, you must choose a lower amount (# 38). By the selection, the system returns to the credit lending limit calculation and recalculates the monthly payment amount based on the credit lending limit (# 39) increased by the recalculation.

If the monthly payment is not too high, the borrower is asked if it is too low. If the answer to the question is negative, the calculated monthly payment amount and the credit limit (if any) are printed out (# 40).

If the payment amount is too low, the system selects a new deferral period for each three years on both the extension side and the reduction side of the deferral period used in the calculation (# 14). Next, the seven revised monthly payments are recalculated, and each of these monthly payments and the annual installment expense related to each monthly payment are tabulated. This table (# 41) is used together with the number of unit periods until the deferral start date (# 12) and the interest rate (# 32) to calculate the net present value of each of the seven options (# 42). Next, the system selects the highest net current price selection (# 43) and sets this amount as the optimal monthly payment for borrowers (# 44).

The above-mentioned configuration is for explaining the principle of the present invention. It will be apparent to those skilled in the art that numerous variations and modifications can be made without departing from the spirit and scope of the invention.

[Brief description of drawings]

FIG. 1 is an explanatory diagram of a logic command configuration for selecting an optimal combination of a flow of retained earnings and deferred assets according to the present invention.

FIG. 2 is an explanatory diagram of a logic command configuration for evaluation determination of a credit limit amount based on an account.

[Explanation of symbols]

# 1 Appraisal of real estate appraisal value # 2 Appraisal value # 3 Judgment whether it is lower than the lower limit value # 4 Borrower decides selective reserve net value # 5 Subtracting selective reserve net value from appraisal value # 6 Starting house price (OHV) # 7 Judgment whether OHV is between lower limit and upper limit # 8 OHV multiplied by 0.2 and deducted from OHV # 9 Standards used as basis for calculating monthly payment amount Amount # 10 Calculate future value of standard amount # 11 Rising rate of lender provision # 12 Number of unit periods until deferred annual installment payment start # 13 Future value of standard amount (FVBA) # 14 Start date of deferred period # 15 Loan start date # 16 Deferred period starting date # 17 Interim life expectancy table # 18 Borrower age # 19 Real estate lending future value # 20 Contract conclusion cost # 21 Rightholder insurance cost # 22 Registration fee # 23 House repair cost # 24 Assessment fee # 25 Lending start steps Fee # 26 Credit limit # 26B No fees VISA # 27 Reserve for house repairs # 28 Acquisition fee fee # 29 Initial lump sum fee # 30 Total amount of contract conclusion cost # 32 Interest rate # 33 Annual installment cost # 34 Annual installment contrast Table access table # 35 Annual installment expense table # 36 Net standard amount # 37 Monthly payment amount # 38 Borrower selects reduced monthly payment amount # 39 Return to credit loan calculation and enter desired monthly payment revision value in # 37 # 40 Print monthly payment amount and credit limit to borrower # 41 Monthly payment amount and annual installment cost selection table # 42 Calculate the net present value of each of the seven options # 43 Select the option with the largest net present value # 44 To the borrower Optimum monthly payment # 50 Future value of real estate price (FVP) # 51 FVP multiplied by 0.8 # 52 0.8 FVP multiplied by the percentage determined by the lender # 53 Mortgage general Incoming price (FVMA) # 54 Credit limit amount future value subtracting FVMA from LFVP # 55 Current credit limit amount (PVLOC)

Claims (8)

[Claims] 1. A system for accessing a non-cash asset having a measurable valuation and selectively deciding an optimal combination of loan conditions corresponding to a secured credit loan and a deferred annual installment. A set of application parameters including personal data of a person and valuation data of one or more assets owned by the applicant, which is a mortgage of credit to the applicant, and is associated with the application of the back net price loan Means for accepting application parameters and inputting them to the data processing system; means for selectively accessing insurance statistical data and forecast data from a database linked to the data processing system; and means for responding to the input means and the access means. To calculate the optimal credit distribution and insurance premiums, and to calculate the periodic periodicity of back lending mortgages and deferred annual installment credit lending. A data processing means within the data processing system that provides a payment framework. 2. The system according to claim 1, wherein said data processing means further includes means for determining a deferred period based on said personal data and accumulated life expectancy data. 3. The system of claim 2, wherein the forecast data includes a rate of appreciation of selected assets. 4. The system repeatedly calculates an individual payment schedule according to a privilege selected by the user.
System. 5. A data processing system for selective optimization of loan terms, including back-net mortgage loans and deferred annual installments, which provides a flow of collateralized surplus with limited assets over an indeterminate period. An input means for selectively inputting system parameters and applicant account parameters corresponding to the evaluation of the present value and future value of the limited asset; and the applicant in response to the input means. Data processing means for determining an optimal combination of the required surplus and the back net price mortgage loan corresponding to the valuation of the asset and the deferred annual installment amount allocation. 6. The data processing system of claim 5, including another data processing means for calculating a credit limit associated with a portion of the asset so as to provide additional credit to the applicant. 7. The data processing system according to claim 5, wherein the input means receives input parameters including a valuation amount, an appreciation rate, a loan start date, an applicant valuation in insurance statistics, and a current interest rate. 8. The data processing means provides a set of account characteristic values based on the life expectancy of the applicant, and the characteristic values of the characteristic values are interactively adjusted through interactive adjustment of predetermined parameters including a deferred period of the annual installment. The data processing system according to claim 5, which enables re-evaluation.