The automated compliance engine of the present invention uses the Federal, State,
local and professional regulations and requirements and implementing instructions
to generate a plurality of tasks which can be used to control and drive the process
of handling a mortgage loan application to completion and to monitor the completion
of the tasks in order to generate a Completion Certificate. Mortgage loan requesters
may specify that the system will generate the plurality of required tasks, provide
the plurality of required tasks to the requestor for his execution, and monitor
the completion of all required tasks so as to provide a completion certificate
to the requestor. Alternatively, loan requesters may specify that the automated
compliance engine will generate the plurality of required tasks, will transfer
the required tasks to other systems qualified to manage and control the execution
of the required tasks, and the compliance engine will monitor the completion of
all required tasks so as to provide a completion certificate to the requester.
