Patent ID: 8666885

Claim:
In a computer automated system comprising a processing unit and a memory element having instructions encoded thereon, a method for using Loan Level Pricing Adjustments corresponding to specific consumer input to determine or calculate the interest rates of a plurality of loan products, the method comprising: creating, organizing, and updating a centralized and searchable lender database or databases comprised of a plurality of lending institutions' interest rate pricing for loan products, wherein the steps of creating, organizing and updating further comprise: aggregating interest rate matrices or grids and Loan Level Pricing Adjustment information for the loan products obtained from each lender, wherein said aggregation from a plurality of lending institution's interest rate matrices or grids and Loan Level Pricing Adjustments forms part of the searchable and centralized database or databases for use in determining the interest rates for a consumer; determining or calculating interest rates for the loan products for said consumer based on input consumer criteria and corresponding Loan Level Pricing Adjustments.