Systems, methods and computer program products for offering consumer loans having customized terms for each customer
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United States of America Patent
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May 29, 2012
Issued Date -
N/A
app pub date -
Oct 5, 2001
filing date -
Oct 5, 2000
priority date (Note) -
In Force
status (Latency Note)
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Abstract
Systems, methods and computer program products take into account the amount, term, and type of consumer loan, as well as data relating to a customer's credit score, debt burden, and collateral, if any. The invention then calculates an expected probability of default for a loan to that customer, and calculate loan terms that will deliver a minimum return on equity (e.g., 18%) given the lender's capital structure and funding rates. These loan terms are then offered to the customer. The customized loan terms include annual percentage rate of the loan, or a yearly fee or loan amount.
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