Loan Modification Software That Tames the Chaos

The severity of borrower needs, the sense of immediacy, scale, and the sheer velocity of transactional requests, have catapulted technology utilization into a new era. The place where adoption, implementation, access to loan data, sophisticated decisioning, and digitization capabilities are finally catching up and surpassing other industries. This current environment is a fortuitous collision of pressures from borrowers, investors, federal agencies, and states, creating a very real opportunity for mortgage servicers to reinvent how they do business by tapping into modern default servicing workflow automation with CLARIFIRE®.

This is today’s home loan modification landscape. CLARIFIRE®’s process automation workflow capabilities traverse and connect your entire organization, driving all loan modification activities, including communications, workout options, eligibility decisioning, “complete” loan modification package determination, and trial period monitoring. These capabilities support loan modifications, as well as forbearance, deferment, partial claims, short sale, and your private investor requirements.

Clarifire’s Loan Modifications Solution

Clarifire’s loan modification software was conceived during the last financial crisis, enhanced throughout recovery, elevated on the rise of natural disasters, and have already helped mortgage servicing organizations tackle pandemic impact. CLARIFIRE®, the award-winning process automation product, is quite simply the future of servicing and loan modifications, offering superior operational efficiencies at breakneck speed. The application gives back control by unraveling the chaos of workouts, business rules, and regulations to create a clear, articulate, and intelligent means to manage all of your loan modification processes.

Here's how loan modification complexities are seamlessly streamlined with the CLARIFIRE® software.

Benefits of CLARIFIRE® for Mortgage Loan Modification

Help Your Customers Help Themselves, Put Them in the Driver’s Seat

Today’s borrower client requires meaningful education, training, and engagement to avoid foreclosure and, more importantly, pause and reverse a path towards default. With the right tools, your customer can be in the driver’s seat and begin to navigate the loan modification process independently. CLARIFIRE® removes the stress from this arduous process with intelligent automation that creates an understanding of the alternatives for the borrower. With numerous homeowners in various stages of distress, from the inability to make a single payment to catching up after months of instability, this educational, self-serve component is critical. Empower your delinquent borrowers with CLARIFIRE COMMUNITY™, delivering informed intelligence and meaningful results designed to build personal assurance in the loan modification process, as well as in the mortgage servicer. CLARIFIRE® allows your borrowers to confidently interact with sophisticated automation that serves up numerous capabilities, from bi-directional communications to side-by-side loan modification comparisons. Options are delivered within your clients’ timeframe, without intervention.

CLARIFIRE® allows you to proactively engage borrowers, offering clarity and guidance on what and how to proceed with loan modifications, including financial education and counseling.

Rapid Home Loan Modification Decisions, Rapid Relief

Are you leaving your distressed borrowers to wonder when and how they will get assistance? Even the slightest delays in communication, fulfillment, and processing can have serious ramifications for delinquent borrowers. In today’s environment, where historic volume levels are becoming the norm, modification software must process information with unsurpassed speed, delivering real-time results and rapid support at the point of borrower interaction, not hours later. CLARIFIRE® is designed to surpass this challenge with bulk processing of like requests, dramatically improving processing speeds, and providing mortgage servicers with the visibility to see help requests as they occur, putting a complete history of loan modification inquiries and activities at their fingertips. Additionally, servicers can manage programs and workout options using CLARIFIRE CALCULATOR™. Keep track of all the details by incorporating robust, current, and auditable decisioning capabilities that incorporate FHA, VA, USDA, Fannie Mae, and Freddie Mac guidelines into automated operational workflows.

Let CLARIFIRE® reinvent your approach with automated eligibility determination, significantly increasing efficiency, processing speeds, and resource utilization.

Simplify Third-Party Interactions

Achieving true digitization necessitates leveraging real-time data collected from throughout your organization, as well as your business partners, to optimize results and ensure ease of execution. CLARIFIRE® leverages data across both internal and third-party resources, so you never have to leave the CLARIFIRE® software. Using a robust centralized API and powerful connection layer, servicers are able to readily integrate with third-party system capabilities, creating clean, transparent process digitization. This advanced approach to leveraging third-party platform interactions catapults servicers to a new level of operational advancement by optimizing results and providing access to intelligent decisioning driven by industry data. Servicers gain access to capabilities that instantaneously determine workout options and program eligibility. Let CLARIFIRE® help you present delinquent borrowers with all of their mortgage modification options, powered by meaningful, smart, relevant data.

Automate your operations with CLARIFIRE®, driving data from throughout the industry and your organization to maximize intelligent decisioning and responses.

Software to Synchronize all the Moving Pieces

There is no end to the number of dates, activities, and events that require administration and oversight during loss mitigation processes, especially loan modifications. This complexity can include borrower exchanges as well as mortgage servicer interactions. Once the servicer begins to connect with a delinquent borrower, each date, action, and acknowledgement must be captured to ensure investor, state, and federal guidelines are met. CLARIFIRE® encompasses all of these moving parts, defining your servicing with expanded capabilities to deliver a more thoughtful and effortless experience. Borrowers can self-serve 24/7, allowing actions to be proactively monitored, identified, and responded to on real-time dashboards. CLARIFIRE®’s modern automated workflow provides real-time visibility into borrower activities, logging interactions, creating transparency, and ensuring the integrity of loan modification efforts. Servicers realize strong capabilities with intelligent workflow that aligns operational processes and activities, producing better results with the best modification software.

CLARIFIRE® workflow has the full operational life cycle of hardship responses, support, and results, delivering nimble, transparent servicing automation. Powered by sophisticated workflow and decisioning technology, CLARIFIRE® removes the complexities and takes the cyclical chaos from the game.

Woman using CLARIFIRE application

Compare Us to the Competition

Working under the sheer magnitude of evolving loan modification processes and requirements is reason enough to embrace modern workflow automation, so why CLARIFIRE®? Conceived on the heels of the Great Recession, CLARIFIRE® has been delivering robust workflow automation with sophisticated decisioning for over a decade. The full suite of CLARIFIRE® capabilities and solutions has evolved together with industry default servicing changes, beginning with changes that resulted from the financial crisis. This organic growth, alongside true innovation, allows the Clarifire team to provide a meaningful industry experience. Coupled with genuine listening, collaboration, and the incorporation of client feedback, the CLARIFIRE® product has matured to fully encompass servicer needs in terms of default servicing and disaster relief provisions, inclusive of natural disaster, economic, and pandemic assistance requirements.

See where others have fallen short. Compare how CLARIFIRE® has continuously outpaced the competition in terms of new industry innovation. We know the business, as well as the industry. Initially introducing highly advanced automated workflow that surpassed any comparable offering at the time, Clarifire has gone on to consistently develop and deploy leading-edge automation. Using the best that technology has to offer, including Software-as-a-Service, complex decisioning and rules management, artificial intelligence capabilities, and utilization of application programming interfaces (APIs), the result is advanced integration of modern enterprise data strategies, sophisticated software development, and mature security infrastructure that removes all of the complexities and supports industry digitization. Contact us today to get a free demo of our loan modification software.