The Decision to Bring Clarifire Onboard
In combination with the many facets that went into the decision of making a commitment to the Clarifire team, the one thing that
stands out in my mind is the positive attitude and performance of all the members of Jane's team. This combined with the work
product demonstrated and the promise for speed to market was the most attractive feature.
Jane and her team proposed a solution that removed the manual labor and decision process from simple tasks, which we were not
able to do with our current system of record at the time. This was one of the key factors in our decision to move towards Clarifire.
In addition, we believed in Jane's vision and her work ethic to get the job done. Coupled with her prior proven
results in the industry, we had faith that together as a team we would succeed.
Collaboration and Partnership: A Great Working Relationship
Together with Clarifire, we collaborated on writing the appropriate business logic and rules needed to streamline several manual processes
to automate them, thus enabling us to work in an exception-based workflow environment. Jane and the Clarifire team worked with us
as a true partner interested in helping us reach our corporate and individual goals and find success.
Goals Exceeded, Proven Results
In April 2007, we were able to return our servicing process back "in-house," from a previously outsourced environment, without hiring any additional
staff in the foreclosure department.
The exceptional workflow queuing provided by the CLARIFIRE® system automated the Document Execution process, streamlining the foreclosure
referral process which:
- reduced the overall manual intervention from almost 20 steps down to three steps
- reduced the processing time from fifteen minutes to approximately one minute
Moving to an exception-based handling environment gave us the ability to monitor our foreclosure attorneys and the timelines of the
foreclosure process so efficiently, that the foreclosure processors were able to triple their portfolio volumes without additional
Bankruptcy proof of claim processes were reduced from almost twenty steps down to one step, the processing time from fifteen minutes
down to two minutes, again giving the ability for representatives to handle an increased portfolio while simultaneously mitigating loss and
Expanded Relationship and More Successes
Due to the success of our transition to CLARIFIRE on the foreclosure and bankruptcy processes, we immediately began building out the
business logic for our senior lien monitoring portfolio. By utilizing the CLARIFIRE workflow tool, we were able to reduce the exorbitant
fees and costs of outsourcing the senior lien monitoring, and handle the monitoring without increasing staff. We were now minimizing loss
and further improving risk management.
Due to the improved efficiencies in handling and monitoring of standard day-to-day processes, the representatives could now concentrate
their efforts on the exceptions and the outliers. We were now guaranteeing that we had stricty adherence to compliance measurements and
requirements. As new agency or government regulatory requirements were issued, Clarifire worked quickly
and efficiently to build out the necessary new business logic to ensure that we were in compliance prior to the required new
Overall, in the face of economic crisis we knew we had to think differently and quickly. We chose Clarifire due to the innovative
approach to business process automation and the tenacity of the Clarifire team to get things done. Bringing the progressive, entrepreneurial
spirit to our financial services institution provided us with a way to think forward and provide cost-cutting measures while improving the customer experience.
Jane and her team guided us through the process and we built a lasting, trusted partnership between the two organizations.