Case Study: Colorado Housing and Finance Authority (CHFA) cuts loan decision time to 43 minutes and drives record $777M in business with Tungsten Automation

Colorado Housing and Finance Authority Speeds Mortgage Application Processing and Achieves Big Savings

Colorado Housing and Finance Authority (CHFA) provides mortgage financing and affordable housing support across Colorado, but its largely manual, paper-based loan production was creating long cycle times and little visibility for lending partners—often taking three to seven days for a loan decision. The IRM team set out to digitize and streamline the First Mile of loan processing to speed decisions and give lenders real-time insight into application status.

Working with Buddha Logic and Kofax (Capture, Analytics for Capture, Transformation), CHFA deployed dashboards and a lender web portal, added analytics-driven KPIs, and changed processing to run in parallel. The result: average decision time fell to 43 minutes, lenders gained transparent, up-to-the-minute status and rejection reasons, staff productivity and accuracy improved, and CHFA recorded a record $777 million in business in 2015 without increasing headcount.

Colorado Housing and Finance Authority (CHFA)

Brian Mueller

Manager, Integrated Records Management