Method and system for compliance hosting
AssigneePeter M. de Jonge
InventorsPeter M. de Jonge, Tom Bushell, Rich Bushell, Lloyd Rutherford
Life of this patent
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Abstract
A method and system is provided for monitoring mortgagee regulatory compliance using a centralized repository. A centralized repository hosts loan origination software (LOS). The centralized repository can be accessible to a compliance monitor and a mortgagee. The mortgagee records borrower loan information into the centralized repository using the LOS. The compliance monitor retrieves borrower loan information using the LOS. The compliance monitor audits borrower loan information for regulatory compliance. The compliance monitor reports audit results to the mortgagee.
Claims20
A method for monitoring mortgagee regulatory compliance using a centralized repository, comprising:
- hosting loan origination software (LOS) from a centralized repository accessible to a compliance monitor and a mortgagee;
- recording borrower loan information into the centralized repository by the mortgagee using the LOS;
- retrieving borrower loan information by the compliance monitor using the LOS;
- auditing borrower loan information by the compliance monitor for regulatory compliance;
- reporting audit results to the mortgagee.
A method for monitoring mortgagee regulatory compliance using a centralized repository, comprising:
- hosting loan origination software (LOS) from a centralized repository accessible to a compliance monitor and a mortgagee;
- recording borrower loan information into the centralized repository by the mortgagee using the LOS;
- retrieving borrower loan information by the compliance monitor using the LOS;
- auditing borrower loan information by the compliance monitor for regulatory compliance, wherein auditing borrower loan information includes completing a checklist to verify regulatory compliance;
- reporting audit results to the mortgagee.
A system for monitoring mortgagee regulatory compliance using a centralized repository, comprising:
- a centralized repository for hosting loan origination software (LOS);
- a mortgagee device for recording borrower loan information using the LOS into the centralized repository;
- and
- a compliance monitor device for retrieving borrower loan information using the LOS, auditing borrower loan information for regulatory compliance, and reporting audit results to the mortgagee device.
Dependencies are inferred from the claim text.