The Colorado Housing and Finance Authority (CHFA) has integrated Encompass Investor Connect and AIQ technology from ICE Mortgage Technology, part of Intercontinental Exchange Inc. (ICE), enabling faster and easier loan delivery and funding.
“We’re thrilled to support organizations like CHFA and the work they do for Colorado homebuyers,” says Parvesh Sahi, senior vice president of business and client development at ICE Mortgage Technology. “We’re excited when organizations like CHFA leverage our automation and artificial intelligence solutions to increase their efficiency and help more consumers get into homes faster in the affordable housing space.”
Encompass Investor Connect provides a seamless, system-to-system delivery, directly from Encompass to CHFA, eliminating the need for lenders to locate, save and deliver data and documents that are already in their system. Lenders can go to their loan pipeline, select CHFA and deliver files immediately.
“CHFA is excited to be the first HFA to automate loan delivery and acquisition using ICE Mortgage Technology,” states Dan McMahon, CHFA’s home finance director. “This provides significant efficiencies and more robust capabilities. Faster loan delivery, acquisition, and review translates to a better experience for the lenders we work with and the homebuyers we serve.”
With the addition of AIQ, CHFA has further automated the process by using artificial intelligence and machine learning to automatically extract, recognize and identify data and documents. These technologies improve productivity, efficiency and reduce risk.