Apparatus and method for minimizing consumer borrowing costs

Details Apparatus and method for minimizing consumer borrowing costs Apparatus and method for minimizing consumer borrowing costs

G - Physics

06

Q

G06Q 40/02 (2012.01) H04L 12/16 (2006.01)

Patent

CA 2370368

There is disclosed a loan optimization system and method for advising users regarding the possibility of refinancing various loans or mortgages where financing cost savings can be realized. The system stores loan particulars of existing borrower loans in a loan database and upon detection of a trigger condition with respect to a particular borrower loan will scan a product database containing product particulars for various alternative prospective loan products available in the market and identify any possible prospective loan products which would create savings and meet the user's requirements. Loan comparison methods of varying complexity are disclosed.

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