Method and apparatus of creating a financial instrument and administering an ...

United States Patent

King

[19]

US006148293A [ii] Patent Number: 6,148,293 [45] Date of Patent: *Nov. 14,2000

[54] METHOD AND APPARATUS OF CREATING A FINANCIAL INSTRUMENT AND ADMINISTERING AN ADJUSTABLE RATE LOAN SYSTEM

[76] Inventor: Douglas L. King, 6604 Covehollow Rd., Oklahoma City, Okla. 73123

[ * ] Notice: This patent is subject to a terminal disclaimer.

[21] Appl. No.: 08/953,572 [22] Filed: Oct. 17, 1997

Related U.S. Application Data

[63] Continuation of application No. 08/374,017, Jan. 18, 1995, Pat. No. 5,742,775.

[51] Int. CI. G06F 17/60

[52] U.S. CI 705/35; 705/38

[58] Field of Search 235/379; 705/1,

705/30, 35, 36, 38

[56] References Cited

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OTHER PUBLICATIONS

Mills, S.J., "Project Finance for Alternative Energy," Renewable Energy, p. 207-208, (1993) XP-002089408.

Primary Examiner—Edward R. Cosimano

Attorney, Agent, or Firm—Carella, Byrne, et al.; John N.

Bain; William Squire

[57] ABSTRACT

An operatively interconnected data processing and computing system is provided for creating, servicing and paying loan agreements between a lender and borrower providing for repayment ol the loan together with interest at a periodically adjusted rate based on the terms ol the agreement. The system includes data processing for a novel form ol relationship management links, supervising and balancing the interests ol contractholders, marketing agents, financial intermediaries, investment managers, investment bankers, custodians, rating agencies and an issuing entity.

118 Claims, 25 Drawing Sheets