Frank Thomas Turner

US Patent:

7917431, Mar 29, 2011

Filed:

May 18, 2007

Appl. No.:

11/750808

Inventors:

Debashis Ghosh - Charlotte NC, US
Sudeshna Banerjee - Waxhaw NC, US
William Michael Upchurch - Charlotte NC, US
Robert H. Eshleman - Charlotte NC, US
Christopher James Trainor - Charlotte NC, US
Frank B. Turner - Charlotte NC, US

Assignee:

Bank of America Corporation - Charlotte NC

International Classification:

G06Q 40/00
G06Q 10/00

US Classification:

705 38, 705 11

Abstract:

Systems and methods are illustrated for providing an equity protection product to a borrower of a loan. Aspects of the equity protection product may be implemented using an equity protection agreement. The equity protection product may be used to safeguard a borrower's investment in the event of a housing market downturn. In some examples, once the equity protection is purchased, the borrower's equity can only increase or remain stable (i. e. , flat) regardless of market conditions. The payoff amount of the borrower's loan may be reduced to compensate for a change in the market value of the borrower's home. The equity protection product may be provided by a lending institution, bank, or any other comparable entity/person. A trading desk may also be used to hedge against the risk created by the equity protection product. In addition, an appraiser may also be used to evaluate and provide current market values of the relevant property.

US Patent:

7933788, Apr 26, 2011

Filed:

Nov 30, 2007

Appl. No.:

11/948596

Inventors:

Eugene I Pyatigorsky - New York NY, US
Frank Turner - Charlotte NC, US
Partha Sen - Charlotte NC, US

Assignee:

Bank of America Corporation - Charlotte NC

International Classification:

G06Q 40/00

US Classification:

705 4

Abstract:

An intermediary provides pre-funded health insurance to consumers by receiving and processing consumer information and initiating agreements with consumers and with health care providers to implement pre-funded insurance policies, for example, post-retirement health insurance policies. The intermediary may receive information corresponding to the consumer's age, income, health characteristics, and risk factors, as well as the type of insurance coverage desired. A retirement date and a consumer payment schedule for the health insurance policy may be determined based on the consumer information provided. Upon retirement, the intermediary may then pay insurance premiums to a health insurance provider on behalf of the consumer.

US Patent:

8190516, May 29, 2012

Filed:

Jan 10, 2011

Appl. No.:

12/987758

Inventors:

Debashis Ghosh - Charlotte NC, US
Sudeshna Banerjee - Waxhaw NC, US
William Michael Upchurch - Carlotte NC, US
Robert H. Eshleman - Charlotte NC, US
Christopher James Trainor - Charlotte NC, US
Frank B. Turner - Charlotte NC, US

Assignee:

Bank of America Corporation - Charlotte NC

International Classification:

G06Q 40/00

US Classification:

705 38

Abstract:

Systems and methods are illustrated for providing an equity protection product to a borrower of a loan. Aspects of the equity protection product may be implemented using an equity protection agreement. The equity protection product may be used to safeguard a borrower's investment in the event of a housing market downturn. In some examples, once the equity protection is purchased, the borrower's equity can only increase or remain stable (i. e. , flat) regardless of market conditions. The payoff amount of the borrower's loan may be reduced to compensate for a change in the market value of the borrower's home. The equity protection product may be provided by a lending institution, bank, or any other comparable entity/person. A trading desk may also be used to hedge against the risk created by the equity protection product. In addition, an appraiser may also be used to evaluate and provide current market values of the relevant property.