Patent №
US 8,301,558
Granted
2012-10-30
Filed 2010
Owner
BANK OF AMERICA CORPORATION
Lab
—
AI components
1
planning
Assignment
Recorded
Dataset
AIPD
2023_r1 edition
Application
12847434
Embodiments of the present invention relate to methods and apparatuses for implementing, in connection with a HELOC account, a loan management tool. In some embodiments, the method includes: storing information relating to a loan account associated with a borrower, segmenting the loan account into one or more spend categories, and allocating purchases and payments, or portions thereof, made by the borrower to at least one of the one or more spend categories. In addition, the method may further include receiving from the borrower an input and calculating, based on the input, an output, wherein the output comprises at least one of the anticipated payoff date, the monthly payment amount, and the total saved interest.
AI classification
Ownership
BANK OF AMERICA CORPORATION
assignment · 248930435
Assignors
MARSHALL, EDNA WATERS, CURRY, LISA D., HARDY, ASHLEY C.
On an employer assignment, the assignors are typically the inventors.