Those Speedsters at FSA

From the FSA press release on new software supporting the direct loan program:

Development of the new software began in 2004, Coppess said, and the first phase, to improve the loan making process was launched in 2007. Since then, more than $3 billion in new loans have been obligated through the system, including many made as a result of the 2009 American Recovery and Reinvestment Act.

It's not real clear what's going on--the release talks of a major upgrade, and the first release must have been out for a while, if $3 billion has been made through the system.  So I guess it's not right to mock this as a 6 year development project.  No mention of the cost of the software project, but at least it turned out to be usable.