System and process for securitizing reverse mortgage loans
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United States of America Patent
Stats
-
N/A
Issued Date -
May 9, 2002
app pub date -
Sep 12, 2001
filing date -
Sep 11, 2000
priority date (Note) -
Abandoned
status (Latency Note)
Importance
Abstract
A process and system for securitization of a reverse mortgage loan are provided, wherein a loan is made to a borrower. The borrower uses a real property, such as a home, as collateral for the loan. The amount of repayment is based on multiple repayment calculation components. The system and process comprise generating a sale of the reverse mortgage loan from a loan processing component to a securitization creating component. The securitization creating component generates a securitization note based on the reverse mortgage loan, including such factors as the age and sex of the borrower.
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Family
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Cited Art Landscape
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