News Release 
| FOR IMMEDIATE RELEASE May 14, 2007 |
Media Contact: Erin Biehl, ebiehl@ohiohome.org Phone: 614.387.2863 |
OHIO HOUSING FINANCE AGENCY DEBUTS EFFICIENT ONLINE MORTGAGE SYSTEM
COLUMBUS — The Ohio Housing Finance Agency (OHFA) today launched e-MortgageDocs, a new component to the Lender Online system. This new process makes OHFA one of the first housing finance agencies in the nation to implement a fully electronic, paperless processing system.
“This technology will make OHFA's First-Time Homebuyer Program and Opportunity Loan application process more efficient and reliable for participating lenders,” said Doug Garver, executive director of OHFA. “The Agency is committed to helping develop and implement new technologies that make the lending process as fast and simple as possible.”
The e-MortgageDocs tool will be available to more than 185 lenders currently participating in OHFA's homeownership programs. The Agency partners with a lender base to effectively educate Ohio families about the First-Time Homebuyer Program and the Opportunity Loan.
Through e-MortgageDocs, paperless applications will be processed through OHFA's Lender Online portal. This will allow lenders to view and submit electronic loan file documents for the application process, saving both time and money. Previously, lenders had to mail applications, creating a typical turnaround time of two or three days. With the new system, most applications can be processed within a 24-hour period. This online procedure will also eliminate thousands of paper files that are stored each year at OHFA's storage facility.
Lenders from across the state have participated in training sessions and remarked that e-MortgageDocs is convenient and easy to use. “Our staff has worked extremely hard to make this process as user-friendly as possible,” said Joel Ghitman, director of homeownership. “And we are very pleased with the results.”
OHFA's new e-MortgageDocs solution has also received acclaim from the technology industry. Emphasys Software, the national software company that developed the application, honored Donna Cramblit, OHFA's chief technical officer, with an Emphasys Wall of Champions award for her contributions to the project.
OHFA utilizes federal and state resources to provide housing opportunities for families and individuals through programs designed to create, preserve, and manage affordable housing throughout the State of Ohio. The Agency is a self-supporting quasi-public agency governed by an eleven-member board, nine of whom are appointed by the Governor and confirmed by the Senate. Two additional seats on the board, by statute, are reserved for the Director of Development and the Director of Commerce, or their designees, and both serve as ex officio voting members.
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