SYSTEM AND METHOD FOR AUTOMATED LOAN COMPLIANCE ASSESSMENT

An automated system and method for reviewing and assessing compliance with legal compliance requirements for loan applications. Loan application data is extracted from client loan origination systems and transmitted as a loan information file over a secure communication network to an automated compliance assessment system server where the loan information file is audited for compliance with Federal, state, and local legal compliance requirements. The loan information file is reviewed for legal compliance requirements imposed by Federal, State, and local jurisdictions, as well as licensing requirements that the client loan company and related personnel must satisfy. The results of the audit process are transmitted over a secure communication network to the client loan company, with areas of noncompliance indicated. The automated compliance assessment system server also stores rules data derived from legal compliance requirements, license data derived from regulatory requirements, system setup data and supplemental system application data.