The challenge

CHFA’s process was basically really paper-intensive. A single file ranges from 3 hundred users having an individual family members loan in order to more than 7,000 pages to own a commercial mortgage. Staff always put data files regarding the life of the mortgage. This type of data files must satisfy specific criteria and you will experience difficult company and you may mortgage approval process. On top of that, CHFA should fulfill compliance for both government and you may economic regulating authorities. Such need some maintenance attacks so you’re able to offer for more than sixty years.

The solution

To resolve these issues, CHFA chose Hyland’s firm blogs properties system, OnBase. CHFA become on the very first implementation within the hr (HR). The fresh execution getting Hour, a smaller agency, became an easy winnings you to rapidly turned out the benefits off electronic articles administration.

The brand new agencies then moved on so you’re able to House Government, Family Funds, Unmarried Relatives Lending, Multi-members of the family Financing, Lower income Housing, Taxation Borrowing Allowance and you can Business Funds. We have been deleting low-well worth opportunities away from staff having OnBase along the agencies. That way, they can work at choices since their day-after-day workflow, perhaps not documentation, says Brian Mueller, ECM Program Manager.

Electronic data conserve $1 million yearly

CHFA keeps included the platform having its inside the-family arranged software applications. Users pull-up records with just a click inside their relaxed software. Retrieving a newspaper document might take anywhere from about three so you can 12 times, claims Mueller. Having OnBase, pages pull up the document in just that about three seconds. That is a great 237% improvement. Put one up-over annually, and we also save more $600,000 just with smaller recovery. Additionally, it has got freed almost step one,000 sqft from office space, protecting $175,000.

Solitary Nearest and dearest Credit (almost a few-thirds away from CHFA’s organization) now grabs 100% of the files electronically. Without wanting papers, workers are 3 times more productive. You to definitely conserves the fresh agency more than several full-time employees. In total, CHFA preserves $one million annually which have OnBase, claims Mueller.

CHFA was susceptible to conformity for both regulators and financial services communities. One another marketplace wanted tight file retention procedures. Which have papers, staying records for the right timeframe is actually very difficult.

OnBase helps us type and you will plan out articles less. We do not need to bother about dropping a file prior to its retention several months is upwards, states Mueller. When we previously need certainly to build they, i wouldn’t spend time digging as a result of old file packages because of it. We are able to view it that have an easy research in OnBase.

The Federal Mortgage Financial, HUD, FDIC, Ginnie Mae title loans in Michigan, Fannie mae and more the on a regular basis make audits towards the CHFA. In advance of, wanting the latest needed files grabbed months. Today, audits usually takes only two hours and you may CHFA prevents non-conformity penalties and fees.

Microsoft SharePoint and you can OnBase increase customer care

Working with papers commonly managed to get hard for customers and you may credit lovers to work well with CHFA. OnBase let us alter the ways i relate genuinely to our consumers and lovers, says Mueller. We have been simpler to work on and will provides a much bigger influence on more domiciles and you will small businesses so as that we bolster teams and you can Colorado’s savings.

A proven way CHFA try boosting provider is by using SharePoint portals. Financing partners view needed records throughout the Hyland system and will comprehend the condition of its fund online compliment of SharePoint. In the future, CHFA plans to integrate both important items of buildings also after that, substitution CHFA’s current community display entirely.

Having Hyland’s progressive stuff characteristics platform and you may SharePoint working together, CHFA will raise organization techniques automation and you will company intelligence while maintaining the solution user friendly.

Why Hyland?

Which have Hyland, CHFA have an entire file government services. Better yet, new institution made it happen in place of an army of designers.

We are a small It store. And all sorts of I could tell you about C# is that its good chord to your a cello, but I can manage a large, pervading OnBase service which is used by all the employee within department, Mueller said.

Working with the fresh Hyland team and making use of OnBase’s easy setup interface, CHFA has actually a full company system one provides better solution to help you Coloradans.