Patent ID: 8489500

Claim:
A method for monitoring mortgagee regulatory compliance using a centralized repository, comprising: hosting loan origination software (LOS) from a centralized repository utilizing a server storage system accessible to a compliance monitor and a mortgagee; recording borrower loan information via a mortgagee client-server application into the centralized repository by the mortgagee using the LOS; retrieving borrower loan information via a compliance monitor client-server application by the compliance monitor using the LOS; auditing borrower loan information by the compliance monitor for regulatory compliance; and reporting audit results to the mortgagee, wherein audit results are configured to include compliance violations which are graded into one of a low risk compliance violation, an acceptable risk compliance violation, a moderate risk compliance violation, and a material risk compliance violation categories, wherein information about acceptable risk compliance violations, moderate risk compliance violations, and material risk compliance violations are reported to the mortgagee.