It hopes to offer faster and easier delivery
ICE Mortgage Technology has announced that Colorado Housing and Finance Authority (CHFA) has integrated several of its offerings into its processes.
In a statement, ICE confirmed that CHFA integrated its “Encompass Investor Connect” and “Automation, Intelligence, Quality” (AIQ) offerings into its technology, enabling “faster and easier loan delivery and funding.”
Read more: Origination report shows technology accelerating time to close
“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,” ICE said in its statement. “Lenders can go to their loan pipeline, select CHFA, and deliver files immediately.”
“[And] 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,” ICE added. “These technologies improve productivity, efficiency, and reduce risk.”
“We’re thrilled to support organizations like CHFA and the work they do for Colorado homebuyers,” said 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.”
“CHFA is excited to be the first HFA to automate loan delivery and acquisition using ICE Mortgage Technology,” said Dan McMahon, home finance director at CHFA. “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.”
