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Sterling Associates Custom Software Development

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About Sterling Associates

Sterling Associates is a financial services firm located in Whitinsville, MA. They provide financing, insurance and documentation services for boats, airplanes, and manufactured homes.

The Challenge

Brave River was tasked with refactoring and enhancing their existing 15-year-old loan origination software application.

The main goals that Sterling Associates had for the project included:

  • Provide a self-service electronic application
  • Automate the credit checking process (approval or decline)
  • Streamline the application process from application submission through the loan acceptance, settlement, and disbursal of funds

The Solution

Brave River completed a short review of Sterling Associates’ business flow as it related to the loan origination process. The purpose of this discovery period was to identify specific objectives for the new Sterling OS 2.0 (Origination System):

  • Remove duplicate data entry
  • Streamline and automate processing to improve productivity
  • Support higher application volumes
  • Include workflow to provide application status to internal team members/salesforce
  • Provide dynamic reporting to reduce spreadsheet use

Our team developed the Sterling OS 2.0 (Origination System) using Microsoft .Net MVC and SQL Server. During the development process we also incorporated encryption, security, document templates, compliance reporting, and support for all devices.

Major features of the project:

  • Responsive Technology
  • Self-service online application submittal process
  • Integrated credit score (Avantus API) with an option to save the credit score and report in the system along with the applicant data
  • Self-service online application submittal process Application Life Cycle from application submission through closing (status workflow)
  • Document Manager that supports over 150 bank and closing forms
  • Dynamic Reporting
  • Robust Search and Filtering
  • Compliance requirements affiliated with loan applications and Regulation B appraisal disclosure rules related to Mobile Home applications

The Result

Sterling Associates enthusiastically began using Sterling OS 2.0 and discovered very quickly that productivity levels had increased. Working smarter, not harder had become the new mantra for their team.

Opportunity for process improvement does not just come along, it’s there all the time. Sterling Associates, with the assistance of Brave River, took the time to see it.

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