• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Visionet Opens Agile Development Center for the Mortgage Industry

Posted on: Tuesday, 22 January 2008, 12:00 CST

Visionet Systems is pleased to announce the formal inauguration of its Agile Methodology centric development center for the mortgage industry. Software is traditionally developed using a rigid process where 50% of the project effort is spent on writing the business, technical, and testing specifications before significant development begins. This traditional methodology generally requires less access to the business or application user community since more time is spent preparing the documentation for review by the business users. This methodology serves well when the business requirements are predictable and industries are mature. In our experience, any project which takes more than a year in the mortgage industry generally fails due to dynamic nature of the mortgage business at macro and micro levels. We are making this statement after working with top 30 mortgage lenders and servicers over the last decade.

The mortgage industry needs rapid application development methodologies to deliver software solutions in time to exploit market opportunities, whether it is retooling from Alt-A to Conforming products or reengineering to comply with new government sponsored foreclosure avoidance programs. One such rapid application development methodology is called Agile Programming. Agile methodology is very popular among technical staff, but it requires a lot more time and side-by-side active involvement from business as the development is done without writing exhaustive specifications. Visionet has devised a solution to this problem by combining mortgage business domain expertise and software engineering prowess into a single team. Visionet has developed robust methodologies and knowledge based templates to facilitate Agile Development in every mortgage sub domains from no-mode re-fi to REO. This streamlined methodology cuts the development time by 50% while keeping the time spent by business to a minimum. The cost per function point is higher when using this methodology, so the customer has to weigh the cost versus time to market benefits.

About Visionet Systems

Cranbury, N.J.-based Visionet Systems is a full service mortgage consulting and business process outsourcing company that delivers products in the best-of-breed philosophy. Using a combination of consulting, metrics-based technology solutions and business process outsourcing, Visionet Systems helps lenders identify and remove inefficient processes to improve profitability. Founded in 1995, the company's customers include mortgage lenders and servicers. For more information, visit www.visionetsystems.com.

Source: Business Wire

More News in this Category