In a one-year span, Ben managed the development process for all customizations to an existing, mature, loan origination system for a home equity lender. During that year, we automated fee calculation and disclosures in response to new information being added about the loan. For example, a change in the collateral’s flood zone would trigger a change to any number of fees. The system would recalculate all parameters that had changed and resend required disclosures without user intervention.
There were also many changes to system functionality, letters, and system reports that were implemented. Many changes were implemented to conform to Dodd-Frank regulation changes that went into effect in January, 2014.
In all, Ben completed 35 distinct development projects, with levels and documentation and post-install quality control checks that had not previously been provided to this bank.
The Project Manager for Home Equity applications concluded the project by saying, “It feels like we doubled IT output from the previous year.”