The Challenge? A Tight Schedule, Defined Budget, and Need for Compliance
Headquartered in Miami, Florida, Federally chartered Sabadell United Bank, N.A. currently operates 23
locations, services more than 40,000 customers, and has over 700 employees. In growth mode, it needed a lending origination software that could be easily implemented, custom-configured to their specific workflow, flex with operational changes, and scale with them as they expand. And one that was fully compliant with the Dodd-Frank Act, the Consumer Financial Protection Bureau (CFPB), the QM/ATR rule, the TILA- RESPA Integrated Disclosure (TRID) rule, and state-based rules.
Volume grew by more than 500%
Cycle times were reduced by 20%
A consistent, 25 day loan closing process was achieved
Implemented the entire system in under 45 days