The challenge

CHFA’s process was in fact really papers-intensive. Just one file range of 300 pages having a single family unit members mortgage in order to more than seven,000 pages to possess a commercial financing. Personnel still add data regarding lifetime of the loan. This type of documents must satisfy particular standards and you may experience tricky organization and loan recognition process. At the same time, CHFA has to satisfy compliance both for bodies and monetary regulating bodies. This type of need some retention attacks so you can expand for over 60 age.

The solution

To eliminate these issues, CHFA picked Hyland’s company content properties system, OnBase. CHFA become to your earliest execution within the human resources (HR). New implementation to possess Time, a smaller department, turned out to be a simple win you to easily proved the importance of digital articles management.

The fresh department then managed to move on to help you Asset Government, Domestic Funds, Solitary Family members Financing, Multi-relatives Credit, Lower income Casing, Income tax Credit Allowance and you may Team Fund. Our company is deleting reasonable-well worth opportunities of professionals which have OnBase across the service. Like that, capable focus on decisions since their day-after-day workflow, perhaps not paperwork, states Brian Mueller, ECM Program Manager.

Electronic documents save $one million annual

CHFA possess provided the platform with its during the-home build computer software. Pages pull up documents with only a click the link in their casual applications. Retrieving a paper document could take any where from installment loans for bad credit in Hudson Texas around three in order to several moments, says Mueller. With OnBase, pages pull-up the particular document within just that about three mere seconds. Which is a good 237% upgrade. Include that up-over a-year, and now we conserve more $600,000 only with faster retrieval. In addition, this has freed nearly step one,000 sqft out-of a workplace, protecting $175,000.

Solitary Household members Lending (nearly one or two-thirds off CHFA’s providers) now catches 100% of its data files digitally. Instead trying to find paper, employees are 3 x more productive. You to definitely conserves the newest service over a couple full-time teams. As a whole, CHFA saves $one million each year that have OnBase, claims Mueller.

CHFA is actually subject to conformity for both authorities and you will financial functions groups. Both opportunities require rigorous file maintenance principles. With papers, remaining files for the ideal amount of time try very difficult.

OnBase allows us to type and you may plan out posts faster. Do not need to bother about shedding a document before their preservation period is upwards, states Mueller. If we previously need to produce it, we wouldn’t waste time digging owing to old file packets for it. We can find it which have a simple search in OnBase.

The brand new Federal Mortgage Bank, HUD, FDIC, Ginnie Mae, Federal national mortgage association and most of the daily conduct audits on CHFA. In advance of, selecting new necessary documents took weeks. Now, audits may take as low as couple of hours and you can CHFA hinders non-compliance penalties and fees.

Microsoft SharePoint and you may OnBase raise customer support

Dealing with papers will made it difficult for customers and you will lending partners to work with CHFA. OnBase why don’t we alter the method i relate genuinely to the people and you can partners, states Mueller. The audience is easier to work with and will features more substantial effect on far more houses and you can smaller businesses so that we reinforce communities and you will Colorado’s benefit.

A good way CHFA try boosting services is by using SharePoint websites. Credit partners examine expected files in the Hyland program and can see the position of their funds online as a result of SharePoint. Afterwards, CHFA intentions to add the 2 critical items of tissues also after that, replacing CHFA’s newest community show totally.

Having Hyland’s modern content functions program and you can SharePoint working together, CHFA commonly improve organization process automation and team intelligence while keeping the clear answer easy to use.

Why Hyland?

With Hyland, CHFA provides a whole document administration service. Better yet, the fresh service did it without an army off designers.

The audience is a tiny They shop. As well as I will tell you about C# is the fact it’s an effective chord on the a keyboard, however, I will perform a giant, pervasive OnBase solution that is used by most of the worker in our agencies, Mueller told you.

Handling the new Hyland group and utilizing OnBase’s simple configuration screen, CHFA keeps the full corporation program one provides best service to Coloradans.