The challenge

CHFA’s processes was indeed most papers-intensive. A single file range regarding 300 users getting a single members of the family financing to help you over eight,000 pages to own a commercial financing. Group consistently add data regarding the longevity of the loan. Such data files must meet specific conditions and you may undergo challenging providers and loan acceptance processes. Concurrently, CHFA must meet conformity for both government and you may financial regulatory government. These require some retention periods so you can increase for over sixty years.

The solution

To eliminate these issues, CHFA picked Hyland’s enterprise stuff characteristics program, OnBase. CHFA come to the basic implementation inside the recruiting (HR). Brand new execution to possess Time, an inferior agency, turned out to be a simple profit one quickly proved the significance regarding electronic content administration.

This new agency next managed to move on so you can Resource Administration, Home Loans, Solitary Family relations Credit, Multi-members of the family Lending, Low income Property, Taxation Borrowing Allowance and you may Providers Funds. Our company is removing lower-worthy of tasks out-of team with OnBase over the institution. Like that, they may be able focus on decisions as their every day workflow, maybe not papers, says Brian Mueller, ECM Program Manager.

Digital documents cut $one million yearly

CHFA keeps incorporated the working platform featuring its when you look at the-domestic install computer programs. Users pull up data with just a click here inside their everyday applications. Retrieving a newspaper file could take between three to a dozen times, says Mueller. That have OnBase, users pull up the actual file in just one to about three mere seconds. That’s a 237% improve. Incorporate one up-over per year, therefore we save yourself more $600,000 just with quicker recovery. Likewise, it has freed nearly step 1,000 square feet of work place, rescuing $175,000.

Unmarried Relatives Financing (almost one or two-thirds away from CHFA’s providers) today catches 100% of their data files electronically. Instead looking papers, workers are three times more lucrative. One preserves the newest institution more than a couple of regular personnel. Altogether, CHFA saves $one million every year having OnBase, says Mueller.

CHFA was at the mercy of conformity for both authorities and you will monetary features communities. Both marketplace want strict document retention policies. Which have report, keeping data files for the ideal length of time try quite difficult.

OnBase helps us type and you can plan out stuff faster. Do not need to worry about dropping a document before their preservation period try right up, states Mueller. When we previously need to make it, i won’t waste time looking courtesy dated file boxes for this. We could view it having a quick lookup inside the OnBase.

The latest Federal Mortgage Bank, HUD, FDIC, Ginnie Mae, Fannie mae and the regularly run audits to your CHFA. Just before, looking the new required records took weeks. Today, audits can take as little as two hours and you can CHFA hinders non-conformity fines.

Microsoft SharePoint and OnBase improve customer support

Handling paper usually caused it to be difficult for people and you can financing partners to work with CHFA. OnBase why don’t we alter the way we relate with all of our consumers and you can couples, claims Mueller. We’re easier to work on and can has more substantial impact on a great deal more properties and you will small https://paydayloanalabama.com/elmore/ enterprises with the intention that i bolster groups and you may Colorado’s benefit.

One-way CHFA is improving service has been SharePoint websites. Lending people examine needed documents regarding Hyland program and can understand the reputation of the finance on the internet due to SharePoint. Later on, CHFA intends to include both important pieces of structures even further, replacement CHFA’s latest community express totally.

Which have Hyland’s progressive stuff attributes system and you can SharePoint working together, CHFA usually increase team procedure automation and providers cleverness while keeping the answer simple to use.

As to the reasons Hyland?

With Hyland, CHFA have a complete file government provider. Even better, this new department achieved it in the place of an armed forces out of developers.

Our company is a small It shop. As well as I can tell you about C# is that its good chord on the a cello, however, I could do a large, pervading OnBase solution that’s utilized by all the staff inside our agency, Mueller told you.

Dealing with the brand new Hyland group and ultizing OnBase’s easy setting interface, CHFA possess a complete business system one provides greatest service to help you Coloradans.