Patent ID: 7558756

Claim:
A computer system for evaluating a plurality of loan workout options, wherein at least one workout option includes a plurality of scenarios, the system comprising: a memory storing a collection component for collecting information relating to a loan from a plurality of internal and external sources; and a processor which executes instructions for evaluating the plurality of workout options based on the information relating to the loan, predetermined values obtained from evaluations of empirical data, and predefined rules associated with each of the plurality of scenarios to assess the risks associated with each of the plurality of workout options and to provide at least one recommendation for each workout option to a user; wherein: the workout options include a repayment plan option, a loan modification option, a pre-foreclosure sale option, an assumption of mortgage option, and a deed in lieu of foreclosure option; for the repayment plan option the system produces four different repayment scenarios, wherein the borrower repays all the delinquent funds within a specified term by making larger than normal monthly payments; for the loan modification plan option the system produces a repayment scenario, wherein the borrower repays all the delinquent funds distributed over the remaining life of the loan; for the pre-foreclosure sale option the system calculates an estimated value of a property, a total debt of the loan, and net proceeds of a loan; for the deed in lieu of foreclosure option the system calculates an estimated value of a property, a total debt of the loan, a real estate owned debt, and the total savings.