Financial Products with Consumer Protection Built-in for Future Time

Abstract

Relationship banking and mobile banking are discussed and presented here. In Section 1, we present Pre-approval, Fulfillment, and Application Process. In Section 2, we present Financial Products for Protection of Consumers. In Section 3, we present Relationship-Based Score. In Section 4, we present Application of Credit Report for a “Binding” Pre-Approval for Lending Products. In Section 5, we present Deposit Slip Purchase. In Section 6, we present Reducing Frauds on Credit Cards. We also discuss the system and components, with different variations on system and method, or their designs.

1 . A loan product approval method by a lender, said method comprising:
 a lender computing device receiving a loan application, regarding a customer, from a lender application receiving device;   said lender computing device receiving credit information regarding said customer from one or more credit bureau databases;   a rate or index aggregator module receiving an interest rate or market index from an index or rate feed module;   said lender computing device receiving said interest rate or market index from said rate or index aggregator module;   a related information input module receiving historical information about said customer;   wherein said historical information about said customer comprises financial history, past loans' payment patterns, rebuilding credit profile, and number of delinquencies for said customer;   said lender computing device receiving said historical information about said customer from said related information input module;   said lender computing device receiving parameter information from a loan application set current and future parameters database;   a market data input module supplying market parameters to a future forecast processor module;   an analyst input module supplying expert analysis to said future forecast processor module;   said future forecast processor module supplying processed forecasting information to a risk analyzer module;   a ratio database supplying one or more loan ratios to said risk analyzer module;   said loan application set current and future parameters database communicating said parameter information to said risk analyzer module;   said risk analyzer module calculating risks involved with said customer for current and future situations;   said risk analyzer module sending said risks involved with said customer for said current and future situations to said lender computing device;   a rate analyzer module communicating with a rate and parameter setting module;   said rate and parameter setting module appointing a rate or interest formulation for said current and future situations;   wherein said rate or interest formulation for said current and future situations is set permanently based on a predetermined formulation stated in an original agreement corresponding to said loan application;   said rate and parameter setting module sending said rate or interest formulation for said current and future situations to said lender computing device;   said lender computing device receiving updated personal data for said customer;   upon receipt of said updated personal data for said customer, said lender computing device automatically calculating a new interest rate and terms using all information from said updated personal data for said customer, said interest rate or market index, and said historical information about said customer, based on said rate or interest formulation for said current and future situations;   wherein said updated personal data for said customer comprises updated employment history, income, and outstanding loans for said customer;   said lender computing device sending a notice to a notification module, regarding said new interest rate and terms;   said notification module sending said notice to said customer's device, mobile phone, computer, email, or short message service.   
     
     
         2 . The loan product approval method by a lender as recited in  claim 1 , wherein said loan product comprises a fixed rate loan portion. 
     
     
         3 . The loan product approval method by a lender as recited in  claim 1 , wherein said loan product comprises a variable rate loan portion. 
     
     
         4 . The loan product approval method by a lender as recited in  claim 1 , wherein said loan application is related to one or more of following: automobile, motorcycle, bike, recreational vehicle, marine, unsecured installment, credit card, mortgage, home equity installment, or home equity line of credit. 
     
     
         5 . The loan product approval method by a lender as recited in  claim 1 , wherein said loan product comprises an initial interest rate being larger than a final interest rate, at a later time. 
     
     
         6 . The loan product approval method by a lender as recited in  claim 1 , wherein said lender computing device considers one or more of following items: housing expenditure, own or rent a house, collateral type, collateral value, requested amount, down payment, or estimated closing cost for said customer. 
     
     
         7 . The loan product approval method by a lender as recited in  claim 1 , said method comprising: adding a relationship-based score for said customer. 
     
     
         8 . The loan product approval method by a lender as recited in  claim 1 , said method comprising: updating a relationship-based score for said customer, periodically. 
     
     
         9 . The loan product approval method by a lender as recited in  claim 1 , said method comprising: updating a relationship-based score for said customer, based on a predetermined or trigger event. 
     
     
         10 . The loan product approval method by a lender as recited in  claim 1 , said method comprising: updating a relationship-based score for said customer, based on a predetermined market index. 
     
     
         11 . The loan product approval method by a lender as recited in  claim 1 , said method comprising: updating a relationship-based score for said customer, based on a random variable or based on random time intervals. 
     
     
         12 . The loan product approval method by a lender as recited in  claim 1 , said method comprises using one or more of following market or public financial indices: COFI, LIBOR, MTA, CMT, National Average Contract Mortgage Rate, BBSW, or Prime rate. 
     
     
         13 . The loan product approval method by a lender as recited in  claim 1 , said method comprises using a collateral item. 
     
     
         14 . The loan product approval method by a lender as recited in  claim 1 , said method comprises using a revolving credit. 
     
     
         15 . The loan product approval method by a lender as recited in  claim 1 , said method comprises changing period of said loan product. 
     
     
         16 . The loan product approval method by a lender as recited in  claim 1 , said method comprises using one-time upfront payment by said customer. 
     
     
         17 . The loan product approval method by a lender as recited in  claim 1 , said method comprises using one-time payment by said customer. 
     
     
         18 . The loan product approval method by a lender as recited in  claim 1 , said method comprises having an option to terminate said loan product early by said customer. 
     
     
         19 . The loan product approval method by a lender as recited in  claim 1 , said method comprises using an authentication, security, or biometrics module. 
     
     
         20 . The loan product approval method by a lender as recited in  claim 1 , said method comprises using a verification module.