Invention Grant
- Patent Title: Method for structuring a supplemental interest mortgage
- Patent Title (中): 构建补充利息抵押的方法
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Application No.: US13779521Application Date: 2013-02-27
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Publication No.: US08694421B1Publication Date: 2014-04-08
- Inventor: John P. McMurray , Jacqueline M. Doty , Richard P. Nespola, Jr. , Morgan C. Snyder , Lynne S. Mayo , Daniel W. Kelly , Paul Alan Thomas
- Applicant: Federal Home Loan Mortage Corporation
- Applicant Address: US VA McLean
- Assignee: Federal Home Loan Mortgage Corporation
- Current Assignee: Federal Home Loan Mortgage Corporation
- Current Assignee Address: US VA McLean
- Agency: Oblon, Spivak, McClelland, Maier & Neustadt, L.L.P.
- Main IPC: G06Q40/00
- IPC: G06Q40/00 ; G06Q40/06 ; G06Q40/02
Abstract:
A system and method of structuring a supplemental interest mortgage is disclosed. A principal debt obligation and a supplemental debt obligation based on the principal debt loan are secured by a single security instrument. The principal debt obligation includes the principal loan and principal interest to compensate a lender for use of the lender's funds. The supplemental debt obligation includes supplemental interest to compensate a lender for the risk of borrower nonpayment.
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