Patent ID: 8019677
Filing Date: 2011-09-13
Classification: G06Q

Abstract:
1. A computerized method of providing a reverse mortgage comprising: recording, in a data processing system, a home loan product for a borrower; including in the home loan product recorded in the data processing system a home loan applied upon conversion of the home loan to a reverse mortgage; determining, using a processor, a combined loan-to-value (CLTV) ratio using risk modeling based on a plurality of joint interest rate and home price scenarios; determining, using a processor, borrower's equity in a home associated with the home loan product; and automatically converting, using a processor, the home loan to the reverse mortgage upon an occurrence of a trigger event based on the CLTV ratio, determined proximate in time to the trigger event, being below a predetermined CLTV threshold and the borrower's equity, determined proximate in time to the trigger event, being above a predetermined minimum percentage of equity.