Client: Adelfi Credit Union (formerly ECCU)
Challenge: Automate lending practices
Result: Complete automation and to-the-penny accuracy
Adelfi, a federal credit union, had a unique charter of non-usurious lending practices. They managed their legal compliance using an Excel spreadsheet and paper forms for loan origination on large multi-million dollar real estate collateralized participation/syndication commercial loans. Unsurprisingly, the process was time consuming and error prone.
With our expertise in actuarial and financial mathematics, TaylorMade Software automated the process and designed and developed a custom participation/syndication commercial loan origination software package. It allowed rounding through the entire life-cycle of the loan with an equation calculation algorithm that ensured the highest levels of required accuracy, allowing multi-million dollar loans and payments to balance the penny.