Case Study: Colorado Housing and Finance Authority achieves loan decision processing in under 43 minutes with Lexmark

Colorado Housing and Finance Authority - Customer Case Study

Colorado Housing and Finance Authority (CHFA) finances affordable housing and community development in Colorado, but its manual, paper-based loan processing was slowing approvals and leaving lending partners with little visibility into application status. CHFA turned to Lexmark, using Kofax Capture, Kofax Analytics for Capture, and Kofax Transformation to digitize and better manage its mortgage processing and customer onboarding workflows.

With Lexmark’s help, CHFA built dashboards and a lender portal that provided real-time tracking of loan applications and exposed bottlenecks in the process. The changes cut loan decision time from 3–7 days to under 43 minutes on average, improved transparency and lender satisfaction, and helped CHFA reach a record $777 million in business in 2015 without increasing headcount.

Colorado Housing and Finance Authority

Brian Mueller

Manager, Integrated Records Management Department