US20140207655A1

US20140207655A1 - Multiple loan payment option sales tool

Info

Publication number: US20140207655A1
Application number: US14/224,253
Authority: US
Inventors: William D. Stipek; Richard Atikinson; Saleem Buqeileh
Original assignee: Wells Fargo Bank NA
Current assignee: Wells Fargo Bank NA
Priority date: 2007-09-25
Filing date: 2014-03-25
Publication date: 2014-07-24
Also published as: US20100318452A1; US20110196781A1; US7805364B2; US20090083171A1; US8725627B2; US7953659B2

Abstract

A multiple option loan presentation apparatus and method allows a loan agent to communicate a non-traditional loan product to a customer. Non-traditional mortgage products such as pick-a-payment loans allow a borrower to exchange lower payments during an initial period for higher payments layer in an amortization period. Some borrowers do not want to accept the risk associated with adjustable rate mortgages (ARMs) for increases in interest rates, but are still desirous of options for reduced monthly payments. Combining fixed rate loans with an option for interest-only or minimum payments allows this flexibility, but places a premium on being able to graphically depict the implications of these choices. Thereby, the borrower can make an informed decision and the loan agent may more quickly conclude the transaction. In particular, the minimum payments constraints and changes in amounts can be made more intuitive.

Description

CROSS-REFERENCE TO RELATED APPLICATIONS

This application is a Continuation of and claims priority to pending U.S. Non-Provisional patent application Ser. No. 13/092,872 (Attorney Docket No. 106750.20USC2) entitled “MULTIPLE LOAN PAYMENT OPTION SALES TOOL”, filed on Apr. 22, 2011, which is a Continuation of U.S. Non-Provisional patent application Ser. No. 12/861,520 (Attorney Docket No. 106750.20USC1) entitled “MULTIPLE LOAN PAYMENT OPTION SALES TOOL”, filed on Aug. 23, 2010 (now issued as U.S. Pat. No. 7,953,659 B2), which is a Continuation of U.S. Non-Provisional patent application Ser. No. 12/058,938 (Attorney Docket No. 106750.20US) entitled “MULTIPLE LOAN PAYMENT OPTION SALES TOOL”, filed on Mar. 31, 2008 (now issued as U.S. Pat. No. 7,805,364 B2), which claims the benefit of U.S. Provisional Patent Application, Ser. No. 60/975,118 (Attorney Docket No. 106750.20PRO) entitled “FIXED PICK-A-PAYMENT”, filed on Sep. 25, 2007. The entireties of the above-noted applications are incorporated by reference herein.

TECHNICAL FIELD

The present disclosure is generally directed to mortgage application processing. More particularly, the present disclosure is directed to guiding a loan officer and a customer through selection of a mortgage product.

BACKGROUND

Conventionally, mortgage loans are provided at a fixed rate of interest such that payments are made monthly to cover the interest and a portion of the principal calculate to result in repayment within a particular term (e.g., 15 or 30 years). Residential customers are often familiar with such payments. Moreover, the payment schedule can be readily conveyed as a single number that remains constant throughout the term of the loan.
Adjustable rate mortgages (ARM) have garnered a significant amount of the mortgage market by allowing customers to access initial low interest rates, and thus low payments. The mortgage underwriters are able to offer these lower introductory rates due to risk regarding interest rates in the out years has been transferred to the borrower. This risk is often acceptable to the borrower when interest rates are not projected to increase or when the borrower expects to turn over the property in a relatively short period.
A number of loan customers, however, have situations that are not conducive either to a conventional fixed-rate mortgage or for an ARM loan. For instance, the borrower may be risk adverse regarding possible interest rate increases. As another example, the borrower may have cash flow fluctuations from time to time and is desirous of greater flexibility for payment amounts.

BRIEF DESCRIPTION

This brief description is provided to introduce a selection of concepts in a simplified form that are described below in the detailed description. This brief description is not intended to be an extensive overview of the claimed subject matter, identify key factors or essential features of the claimed subject matter, nor is it intended to be used to limit the scope of the claimed subject matter.
In accordance with one or more versions and corresponding disclosure thereof, various aspects are described in connection with an apparatus and method for a multiple loan payment option sales tool that allows a loan agent to readily generate a flexible loan arrangement with selectable payment amounts. The customer still has the benefits of a fixed-rate mortgage by being able to determine what the payments will be, the amount of interest deferred (if any), and the loan balance. In addition, the options may be numerically and graphically presented in a manner that is clear and concise, which would otherwise prove daunting to communicate at all.
In one aspect, a method is presented for presenting a multiple option, fixed rate loan. A fixed interest rate, a minimum payment percentage, and a loan term may be accessed. Minimum payment amounts in accordance with the minimum payment percentage may be calculated. Conventional payment amount in accordance with the fixed interest rate and the loan term may be calculated. Minimum payment amounts may be graphically depicted to communicate their changing characteristics. In addition, a comparison between the minimum payment amounts and the conventional payment amount may be depicted to better communicate the impact of utilizing the minimum payment option that increases the loan balance.
In another aspect, an apparatus is provided for presenting a multiple option, fixed rate loan. A memory component accesses a fixed interest rate, a minimum payment percentage, and a loan term. A loan calculation component calculates minimum payment amounts in accordance with the minimum payment percentage, and calculates conventional payment amount in accordance with the fixed interest rate and the loan term. A user interface graphically depicts the minimum payment amounts, and depicts a comparison between the minimum payment amounts and the conventional payment amount.
In an additional aspect, an apparatus is provided for presenting a multiple option, fixed rate loan, having means for accessing a fixed interest rate, a minimum payment percentage, and a loan term, means for calculating minimum payment amounts in accordance with the minimum payment percentage, means for calculating conventional payment amount in accordance with the fixed interest rate and the loan term, means for graphically depicting the minimum payment amounts, and means for depicting a comparison between the minimum payment amounts and the conventional payment amount.
The following description and annexed drawings set forth certain illustrative aspects and implementations. These are indicative of but a few of the various ways in which one or more aspects may be employed. Other aspects, advantages, or novel features of the disclosure will become apparent from the following detailed description when considered in conjunction with the annexed drawings.

BRIEF DESCRIPTION OF THE DRAWINGS

Aspects of the disclosure are understood from the following detailed description when read with the accompanying drawings. Elements, structures, etc. of the drawings may not necessarily be drawn to scale. Accordingly, the dimensions of the same may be arbitrarily increased or reduced for clarity of discussion, for example.

FIG. 1 is an illustration of an example diagram of a multiple option loan presentation system between a loan agent and a loan customer, according to one or more embodiments.

FIG. 2 is an illustration of an example multiple option loan user interface and customer handout, according to one or more embodiments.

FIG. 3 is an illustration of an example flow diagram of a method for a pick-a-payment loan presentation, according to one or more embodiments.

FIG. 4 is an illustration of an example computing environment where one or more of the provisions set forth herein may be implemented, according to one or more embodiments.

FIG. 5 is an illustration of an example client-server computing device or computer-readable device including processor-executable instructions configured to embody one or more of the provisions set forth herein, according to one or more embodiments.

DETAILED DESCRIPTION

One or more embodiments are described with reference to the drawings, wherein like reference numerals are used to refer to like elements throughout. In the following description, for purposes of explanation, numerous specific details are set forth in order to provide a thorough understanding of the disclosure. It may be evident, however, that one or more embodiments can be practiced without these specific details. In other instances, well-known structures and devices are shown in block diagram form in order to facilitate describing one or more embodiments.
Embodiments or examples, illustrated in the drawings are disclosed below using specific language. It will nevertheless be understood that the embodiments or examples are not intended to be limiting. Any alterations and modifications in the disclosed embodiments, and any further applications of the principles disclosed in this document are contemplated as would normally occur to one of ordinary skill in the pertinent art.
The following terms are used throughout the disclosure, the definitions of which are provided herein to assist in understanding one or more aspects of the disclosure.
As used herein, the terms “component” and “system” are intended to refer to a computer-related entity, either hardware, a combination of hardware and software, software, or software in execution. For example, a component can be, but is not limited to being, a process running on a processor, a processor, an object, an executable, a thread of execution, a program, and/or a computer. By way of illustration, both an application running on a server and the server can be a component. One or more components can reside within a process and/or thread of execution, and a component can be localized on one computer and/or distributed between two or more computers.
As used herein, the term to “infer” or “inference” refer generally to the process of reasoning about or inferring states of the system, environment, and/or user from a set of observations as captured via events and/or data. Inference can be employed to identify a specific context or action, or can generate a probability distribution over states, for example. The inference can be probabilistic. The computation of a probability distribution over states of interest may be based on a consideration of data and events. Inference can also refer to techniques employed for composing higher-level events from a set of events and/or data. Such inference results in the construction of new events or actions from a set of observed events and/or stored event data, whether or not the events are correlated in close temporal proximity, and whether the events and data come from one or several event and data sources.
A multiple option loan presentation apparatus and method allows a loan agent to communicate a non-traditional loan product to a customer. Non-traditional mortgage products such as pick-a-payment loans allow a borrower to exchange lower payments during an initial period for higher payments layer in an amortization period. Some borrowers do not want to accept the risk associated with adjustable rate mortgages (ARMs) for increases in interest rates, but may be still desirous of options for reduced monthly payments. Combining fixed rate loans with an option for interest-only or minimum payments allows this flexibility, but places a premium on being able to graphically depict the implications of these choices. Thereby, the borrower can make an informed decision and the loan agent may more quickly conclude the transaction.
Referring initially to the drawings, FIG. 1 illustrates a communication system 100 in which an intuitive presentation 102 can be made for multiple payment option non-traditional mortgages can be persuasively and efficiently generated by a loan agent 104 for a loan customer 106. In addition to communicating over a network 108 to a loan underwriter 110 and a credit bureau 112 for approvals and credit information, the loan agent 104 utilizes a pick-a-payment presenter component 114 to create the intuitive presentation 102. In particular, values may be accessed or input for loan amount 116, fixed interest rate 118, minimum payment rate 120, and increase/recast constraints 122 for the minimum payment option.
The utility presentation 102 in an illustrative rendering includes calculation results for a conventional interest-based monthly payment, depicted at 124, interest-only monthly payment amount, depicted at 126, and minimum monthly payment for the first time period (e.g., first year), depicted at 128. Due to the negative amortization implications of making minimum payments, the calculations for minimum payments change. Thus the intuitive presentation at 130 depicts graphically and numerically the trend in minimum payment amount. The amount of deferred interest and changes in loan balance can be communicated in a comparison tabulation 132 so the borrower can appreciate how these options differ from a conventional fixed-rate loan.
In FIG. 2, an exemplary intuitive presentation 200 may be rendered in a graphical user interface (GUI) 202. For example, a web-based program can be executed in a platform independent virtual machine (e.g., JAVA™ environment) or be a spreadsheet program, as depicted at 204. Values for a desired or actual loan amount are depicted at 206 (“$250,000”), for a fixed interest rate at 208 (“7.00%”), and minimum payment factor at 210 (“2.00%”). These values may input into these fields manually, be predefined and merely displayed, or be remotely accessed from another authority. For instance, a currently authorized interest rate could be accessed from an enterprise source.
It will be appreciated with the benefit of the present disclosure that constraints for minimum payments for conciseness may be predetermined in this illustrative depiction. A first constraint depicted at 212 may be a period of five years in which minimum payments are held constant. A second constraint may be a recast period of ten years depicted at 214, after which the minimum payment option changing by having the loan recast to reflect deferred interest. In one or more applications, selections could be made, such as omitting the five-year period of constant minimum payments or changing the recast period.
It will be appreciated that calculation formulas that perform the calculations may be hidden. Such formulas as well known for calculating a fifteen-year conventional monthly payment plan, depicted at 216 (“$2,247”), a thirty-year conventional monthly payment plan, depicted at 218 (“$1,663”), and an interest-only payment, depicted at 220 (“$1,458”).
The monthly minimum payments are depicted for each year, both numerically and graphically (i.e., a relative vertical position on the depiction 200 as a plot or graph), depicted at 222 having values of $924, 924, 924, 924, 924, 983, 1067, 1147, 1234, 1329 and 2331 with the current year minimum payment depicted at 224. Tabular information can be depicted on, or accessed from a link depicted at 224 for additional comparison information between the payment options. In the illustrative example, this comparison comprises values at the fifth and tenth years for cash flow (payments made), interest deferred, and loan balance, which can be relative to a 30-year fixed rate loan as a benchmark.
A macro button 226 exports the interactive presentation 200 to a non-interactive presentation for use as a reference or handout.
For conciseness, this example pertains to a new loan. It will be appreciated that such a tool can be an on-going reference for a loan customer who wishes to see the ramifications of various payment options through the life of the life, especially when different options are selected in subsequent payment periods. It will be appreciated that time period of months and years mentioned are illustrative only and that various time periods can be used.
In FIG. 3, a methodology 400 for pick-a-payment load presentation includes accessing a loan amount (block 202), accessing a fixed interest rate (block 204), a minimum payment rate (block 206), and minimum payment constraints (block 208). Minimum payments per year may be calculated in accordance with the minimum payment rate, loan amount, and constraints (block 210). Inter-based payments may also be calculated (block 212), which can include multiple term variations and interest-only payment options. In order to compare the implications of selecting various options, a comparison may be calculated for cash flow (block 214), for deferred interest (block 216) and loan balance (block 218). Then the minimum payments per year may be plotted to intuitive instruct the customer as to the determinative, but changing nature of the payments (block 220). The comparison calculations (e.g., for 5 year and 10 year periods) may also be depicted (e.g., table).
Referring now to FIG. 4, there is illustrated a block diagram of a computer operable to execute the disclosed architecture. In order to provide additional context for various aspects of the disclosure, FIG. 4 and the following discussion are intended to provide a brief, general description of a suitable computing environment 1100 in which the various aspects of the disclosure can be implemented. While one or more embodiments have been described above in the general context of computer-executable instructions that can run on one or more computers, one or more embodiments also can be implemented in combination with other program modules and/or as a combination of hardware and software.
Generally, program modules include routines, programs, components, data structures, etc., that perform particular tasks or implement particular abstract data types. It will be appreciated that one or more embodiments can be practiced with other computer system configurations, including single-processor or multiprocessor computer systems, minicomputers, mainframe computers, as well as personal computers, hand-held computing devices, microprocessor-based or programmable consumer electronics, and the like, each of which can be operatively coupled to one or more associated devices.
The illustrated aspects of the disclosure can also be practiced in distributed computing environments where certain tasks may be performed by remote processing devices linked through a communications network. In a distributed computing environment, program modules can be located in both local and remote memory storage devices.
A computer typically includes a variety of computer readable media. Computer readable media can be any available media that can be accessed by the computer and includes both volatile and nonvolatile media, removable and non-removable media. By way of example, and not limitation, computer-readable media can comprise computer storage media and communication media. Computer storage media includes both volatile and nonvolatile, removable and non-removable media implemented in any method or technology for storage of information such as computer-readable instructions, data structures, program modules, or other data. Computer storage media includes, but is not limited to, RAM, ROM, EEPROM, flash memory or other memory technology, CD ROM, digital versatile disk (DVD) or other optical disk storage, magnetic cassettes, magnetic tape, magnetic disk storage or other magnetic storage devices, or any other medium which can be used to store the desired information and which can be accessed by the computer.
Communication media typically embodies computer-readable instructions, data structures, program modules, or other data in a modulated data signal such as a carrier wave or other transport mechanism, and includes any information delivery media. The term “modulated data signal” means a signal that has one or more of its characteristics set or changed in such a manner as to encode information in the signal. By way of example, and not limitation, communication media includes wired media such as a wired network or direct-wired connection, and wireless media such as acoustic, RF, infrared and other wireless media. Combinations of the any of the above should also be included within the scope of computer-readable media.
With reference again to FIG. 4, the exemplary environment 1100 for implementing various aspects of the disclosure includes a computer 1102, the computer 1102 including a processing unit 1104, a system memory 1106 and a system bus 1108. The system bus 1108 couples system components including, but not limited to, the system memory 1106 to the processing unit 1104. The processing unit 1104 can be any of various commercially available processors. Dual microprocessors and other multi-processor architectures can also be employed as the processing unit 1104.
The system bus 1108 can be any of several types of bus structure that can further interconnect to a memory bus (with or without a memory controller), a peripheral bus, and a local bus using any of a variety of commercially available bus architectures. The system memory 1106 includes read-only memory (ROM) 1110 and random access memory (RAM) 1112. A basic input/output system (BIOS) may be stored in a non-volatile memory 1110 such as ROM, EPROM, EEPROM, which BIOS contains the basic routines that help to transfer information between elements within the computer 1102, such as during start-up. The RAM 1112 can also include a high-speed RAM such as static RAM for caching data.
The computer 1102 further includes an internal hard disk drive (HDD) 1114 (e.g., EIDE, SATA), which internal hard disk drive 1114 can also be configured for external use in a suitable chassis (not shown), a magnetic floppy disk drive (FDD) 1116, (e.g., to read from or write to a removable diskette 1118) and an optical disk drive 1120, (e.g., reading a CD-ROM disk 1122 or, to read from or write to other high capacity optical media such as the DVD). The hard disk drive 1114, magnetic disk drive 1116, and optical disk drive 1120 can be connected to the system bus 1108 by a hard disk drive interface 1124, a magnetic disk drive interface 1126 and an optical drive interface 1128, respectively. The interface 1124 for external drive implementations includes at least one or both of Universal Serial Bus (USB) and IEEE 1394 interface technologies. Other external drive connection technologies are within contemplation of the disclosure.
The drives and their associated computer-readable media provide nonvolatile storage of data, data structures, computer-executable instructions, and so forth. For the computer 1102, the drives and media accommodate the storage of any data in a suitable digital format. Although the description of computer-readable media above refers to a HDD, a removable magnetic diskette, and a removable optical media such as a CD or DVD, it will be appreciated that other types of media which may be readable by a computer, such as zip drives, magnetic cassettes, flash memory cards, cartridges, and the like, can also be used in the exemplary operating environment, and further, that any such media can contain computer-executable instructions for performing the methods of the disclosure.
A number of program modules can be stored in the drives and RAM 912, including an operating system 1130, one or more application programs 1132, other program modules 1134, and program data 1136. All or portions of the operating system, applications, modules, and/or data can also be cached in the RAM 1112. It will be appreciated that one or more embodiments can be implemented with various commercially available operating systems or combinations of operating systems.
A user can enter commands and information into the computer 1102 through one or more wired/wireless input devices, e.g., a keyboard 1138 and a pointing device, such as a mouse 1140. Other input devices (not shown) can include a microphone, an IR remote control, a joystick, a game pad, a stylus pen, touch screen, or the like. These and other input devices are often connected to the processing unit 1104 through an input device interface 1142 that may be coupled to the system bus 1108, but can be connected by other interfaces, such as a parallel port, an IEEE 1394 serial port, a game port, a USB port, an IR interface, etc.
A monitor 1144 or other type of display device may be connected to the system bus 1108 via an interface, such as a video adapter 1146. In addition to the monitor 1144, a computer typically includes other peripheral output devices (not shown), such as speakers, printers, etc.
The computer 1102 can operate in a networked environment using logical connections via wired and/or wireless communications to one or more remote computers, such as a remote computer(s) 1148. The remote computer(s) 1148 can be a workstation, a server computer, a router, a personal computer, portable computer, microprocessor-based entertainment appliance, a peer device or other common network node, and typically includes many or all of the elements described relative to the computer 1102, although, for purposes of brevity, only a memory/storage device 1150 is illustrated. The logical connections depicted include wired/wireless connectivity to a local area network (LAN) 1152 and/or larger networks, e.g., a wide area network (WAN) 1154. Such LAN and WAN networking environments are commonplace in offices and companies, and facilitate enterprise-wide computer networks, such as intranets, all of which can connect to a global communications network, e.g., the Internet.
When used in a LAN networking environment, the computer 1102 may be connected to the local network 1152 through a wired and/or wireless communication network interface or adapter 1156. The adapter 1156 can facilitate wired or wireless communication to the LAN 1152, which can also include a wireless access point disposed thereon for communicating with the wireless adapter 1156.
When used in a WAN networking environment, the computer 1102 can include a modem 1158 or may be connected to a communications server on the WAN 1154, or has other means for establishing communications over the WAN 1154, such as by way of the Internet. The modem 1158, which can be internal or external and a wired or wireless device, may be connected to the system bus 1108 via the serial port interface 1142. In a networked environment, program modules depicted relative to the computer 1102, or portions thereof, can be stored in the remote memory/storage device 1150. It will be appreciated that the network connections shown are exemplary and other means of establishing a communications link between the computers can be used.
The computer 1102 may be operable to communicate with any wireless devices or entities operatively disposed in wireless communication, e.g., a printer, scanner, desktop and/or portable computer, portable data assistant, communications satellite, any piece of equipment or location associated with a wirelessly detectable tag (e.g., a kiosk, news stand, restroom), and telephone. This includes at least Wi-Fi and Bluetooth™ wireless technologies. Thus, the communication can be a predefined structure as with a conventional network or simply an ad hoc communication between at least two devices.
Wi-Fi, or Wireless Fidelity, allows connection to the Internet from a couch at home, a bed in a hotel room, or a conference room at work, without wires. Wi-Fi is a wireless technology similar to that used in a cell phone that enables such devices, e.g., computers, to send and receive data indoors and out; anywhere within the range of a base station. Wi-Fi networks use radio technologies called IEEE 802.11 (a, b, g, etc.) to provide secure, reliable, fast wireless connectivity. A Wi-Fi network can be used to connect computers to each other, to the Internet, and to wired networks (which use IEEE 802.3 or Ethernet). Wi-Fi networks operate in the unlicensed 2.4 and 5 GHz radio bands, at an 11 Mbps (802.11a) or 54 Mbps (802.11b) data rate, for example, or with products that contain both bands (dual band), so the networks can provide real-world performance similar to the basic 10BaseT wired Ethernet networks used in many offices.
Referring now to FIG. 5, there is illustrated a schematic block diagram of an exemplary computing environment 1200 in accordance with one or more embodiments. The system 1200 includes one or more client(s) 1202. The client(s) 1202 can be hardware and/or software (e.g., threads, processes, computing devices). The client(s) 1202 can house cookie(s) and/or associated contextual information by employing one or more embodiments, for example.
The system 1200 also includes one or more server(s) 1204. The server(s) 1204 can also be hardware and/or software (e.g., threads, processes, computing devices). The servers 1204 can house threads to perform transformations by employing one or more embodiments, for example. One possible communication between a client 1202 and a server 1204 can be in the form of a data packet configured to be transmitted between two or more computer processes. The data packet can include a cookie and/or associated contextual information, for example. The system 1200 includes a communication framework 1206 (e.g., a global communication network such as the Internet) that can be employed to facilitate communications between the client(s) 1202 and the server(s) 1204.
Communications can be facilitated via a wired (including optical fiber) and/or wireless technology. The client(s) 1202 may be operatively connected to one or more client data store(s) 1208 that can be employed to store information local to the client(s) 1202 (e.g., cookie(s) and/or associated contextual information). Similarly, the server(s) 1204 may be operatively connected to one or more server data store(s) 1210 that can be employed to store information local to the servers 1204.
Although the subject matter has been described in language specific to structural features or methodological acts, it is to be understood that the subject matter of the appended claims is not necessarily limited to the specific features or acts described above. Rather, the specific features and acts described above are disclosed as example embodiments.
Various operations of embodiments are provided herein. The order in which one or more or all of the operations are described should not be construed as to imply that these operations are necessarily order dependent. Alternative ordering will be appreciated based on this description. Further, not all operations may necessarily be present in each embodiment provided herein.
As used in this application, “or” is intended to mean an inclusive “or” rather than an exclusive “or”. Further, an inclusive “or” may include any combination thereof (e.g., A, B, or any combination thereof). In addition, “a” and “an” as used in this application are generally construed to mean “one or more” unless specified otherwise or clear from context to be directed to a singular form. Additionally, at least one of A and B and/or the like generally means A or B or both A and B. Further, to the extent that “includes”, “having”, “has”, “with”, or variants thereof are used in either the detailed description or the claims, such terms are intended to be inclusive in a manner similar to the term “comprising”.
Further, unless specified otherwise, “first”, “second”, or the like are not intended to imply a temporal aspect, a spatial aspect, an ordering, etc. Rather, such terms are merely used as identifiers, names, etc. for features, elements, items, etc. For example, a first channel and a second channel generally correspond to channel A and channel B or two different or two identical channels or the same channel. Additionally, “comprising”, “comprises”, “including”, “includes”, or the like generally means comprising or including, but not limited to.
Although the disclosure has been shown and described with respect to one or more implementations, equivalent alterations and modifications will occur based on a reading and understanding of this specification and the annexed drawings. The disclosure includes all such modifications and alterations and is limited only by the scope of the following claims.
What has been described above includes various exemplary aspects. It is, of course, not possible to describe every conceivable combination of components or methodologies for purposes of describing these aspects, but one of ordinary skill in the art may recognize that many further combinations and permutations are possible. Accordingly, the aspects described herein are intended to embrace all such alterations, modifications, and variations that fall within the spirit and scope of the appended claims.
It will be appreciated that any patent, publication, or other disclosure material, in whole or in part, that is said to be incorporated by reference herein is incorporated herein only to the extent that the incorporated material does not conflict with existing definitions, statements, or other disclosure material set forth in this disclosure. As such, and to the extent necessary, the disclosure as explicitly set forth herein supersedes any conflicting material incorporated herein by reference. Any material, or portion thereof, that is said to be incorporated by reference herein, but which conflicts with existing definitions, statements, or other disclosure material set forth herein, will only be incorporated to the extent that no conflict arises between that incorporated material and the existing disclosure material.

Claims

What is claimed is:

1. A system for generating multiple loan payment options, comprising one or more components:

receiving a loan amount, an interest rate, a minimum payment factor, and one or more constraints associated with a loan;

generating one or more distinct loan payment options for the loan; and

presenting one or more of the distinct loan payment options, wherein the presenting includes an amount of deferred interest and one or more changes to a loan balance for one or more of the distinct loan payment options,

wherein one or more of the components is implemented via a processing unit.

2. The system of claim 1, comprising a presenter component determining one or more conventional monthly payments or one or more alternative payments based on data associated with the loan.

3. The system of claim 1, comprising a presenter component providing information associated with one or more conventional monthly payments for the loan.

4. The system of claim 1, comprising a presenter component providing information associated with one or more alternative payments for the loan, a number of alternative payments per year, and one or more constraint amounts for a period of time for one or more of the alternative payments until a final payment amount is obtained.

5. The system of claim 1, wherein one or more of the constraints is a recast period.

6. The system of claim 1, comprising an export component exporting one or more of the distinct loan payment options to an interactive presentation.

7. The system of claim 1, comprising a loan calculation component calculating one or more minimum payment amounts.

8. The system of claim 1, comprising a user interface (UI) graphically depicting one or more of the distinct loan payment options.

9. The system of claim 8, wherein the UI is a web based program.

10. The system of claim 1, comprising a table component generating a table for one or more of the distinct loan payment options.

11. A method for generating multiple loan payment options, comprising:

generating one or more distinct loan payment options for the loan based on a constraint period or a recast period; and

presenting one or more of the distinct loan payment options,

wherein the receiving, the generating, or the presenting is implemented via a processing unit.

12. The method of claim 11, comprising calculating one or more minimum payment amounts based on the minimum payment factor.

13. The method of claim 12, comprising graphically depicting a comparison between the minimum payment amount and a conventional payment amount.

14. The method of claim 13, comprising graphically depicting the conventional payment amount.

15. The method of claim 13, comprising graphically depicting one or more of the minimum payment amounts.

16. The method of claim 13, comprising rendering the conventional payment amount or one or more of the minimum payment amounts numerically.

17. A computer-readable storage medium comprising computer-executable instructions, which when executed via a processing unit on a computer performs acts, comprising:

presenting one or more of the distinct loan payment options, wherein the presenting includes an amount of deferred interest and one or more changes to a loan balance for one or more of the distinct loan payment options.

18. The computer-readable storage medium of claim 17, comprising calculating one or more minimum payment amounts based on the minimum payment factor.

19. The computer-readable storage medium of claim 18, comprising graphically depicting a comparison between the minimum payment amount and a conventional payment amount.

20. The computer-readable storage medium of claim 19, comprising graphically depicting the conventional payment amount or one or more of the minimum payment amounts.