Case Study: Colorado Housing and Finance Authority (CHFA) achieves rapid ROI and drastically reduced cycle times with Tungsten Automation

Colorado Housing and Finance Authority (CHFA) Achieves Rapid ROI through Capture Enabled Enterprise Content Management

Colorado Housing and Finance Authority (CHFA), a nonprofit that finances affordable housing and mortgages in Colorado, struggled with highly document‑driven, labor‑intensive loan processes—typically 272 documents per mortgage in more than 4,000 variations. Manual review, classification and data extraction created long cycle times (staff spent about 90% of their time on the “paper chase”) and limited accessibility even after a 72‑million‑record backfile conversion.

CHFA implemented Kofax enterprise capture (INDICIUS, later Kofax Transformation Modules) to scan, intelligently classify, extract and deliver documents at mail intake, with centralized custodianship and easier user‑driven training. The solution made loan production paperless, cut electronic delivery from one day to under four hours (sometimes 15 minutes), reduced retrieval from >12 minutes to ≤3 seconds, enabled faster onboarding of new document types, produced an expected ROI within three years, and yielded office‑space savings (1,000 sq ft / $150,000 in 2010) alongside improved accuracy and customer service.

Colorado Housing and Finance Authority (CHFA)

Brian Mueller

Manager, Integrated Records Management