System and method for tracking and modifying a mortgage rate
CA 2386148 A1 · Owner: Kelly, Joseph · Inventors: Kelly, Joseph; Kelly, Keith
Overview
Its claims, description and drawings are in the Canadian Patents Database.
Open the CIPO recordAbstract From the Canadian patent
A computer-based method and system (100) for controlling the mortgage rate charged to a mortgagee as a prevailing mortgage rate drops. Using an Automatic Rate Cut (ARC) mortgage, a customer's interest rate may be reduced without going through a traditional refinance process. The ARC Loan offers a model of financing for both purchasing or refinancing property (e.g. a residence). Once the customer has been in the program for a specified period since settlement date, the interest rate can be modified down provided that interest rates have declined since the customer entered the ARC Loan. Secondary conditions can also be used to determine if the mortgage qualifies for a rate reduction.
Read the whole patent
Listed from its CIPO record in Patent Yard's archive of Canadian patents past their term. Its claims, description and drawings are in the CIPO record and on Google Patents, and the Claude kit works from them.
Why it's free to use
- Filed October 2, 2000. No grant is recorded for it in Canada; had it been granted, its 20-year term would have ended October 2, 2020.
- A certificate of supplementary protection adds at most two years for a drug, so even that would have ended by October 2, 2022.
- We check Canadian rights only. A patent in its family in another country could still be in force: check its family on Google Patents.
Timeline
Timeline From CIPO dates
Sources & verification
Official CIPO records
Everything on this page comes from the CIPO record linked above. Contains information licensed under the Open Government Licence – Canada.