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loss mitigation and default servicing solution

Modern Loan Modification Software

Simplifies Your Mortgage Modification Program

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.

Not the default servicing workflow of the past, CLARIFIRE® delivers modern automated workflows. Built to drive loans and user data seamlessly across your organization, CLARIFIRE® ingests and displays data from multiple internal and external sources while generating rapid, smart workout decisioning results, as well as .NET capabilities. CLARIFIRE workflow transforms your modification processes. They become intuitive, intelligent, traceable, and easy to change. CLARIFIRE® offers a better approach to loan modification automation, producing better results. Now that’s BRIGHTER AUTOMATION®.

More than just borrower portal access, CLARIFIRE COMMUNITY™ delivers real-time, user-friendly access to the mortgage information that your borrowers demand, by supporting bi-directional engagement, with immediate system-generated results that are traceable and auditable. Servicers can view communications, actions, documents, and other files associated with mortgage modifications while your borrowers experience meaningful interactions and guidance to facilitate 24/7 self-serve access. CLARIFIRE® lets your borrowers establish preferences, alerts, and more. If borrowers want the human touch, they simply click one button that instantaneously adds them to your team’s dashboard for contact.

A revolutionary workout decisioning engine is coupled with robust, proven workflows to ingest your organizational and third-party loan data, along with borrower scenarios that utilize AI to generate actionable outcomes. CLARIFIRE CALCULATOR provides the intelligence needed to drive results across multiple systems, simultaneously eliminating the need to leave the CLARIFIRE software, and enabling you to achieve rapid, seamless loan modification options that are specific to your borrower. Most importantly, the CLARIFIRE CALCULATOR workout underwriting engine maintains current regulatory updates and changes that meet commonly interpreted industry standards, made smart.

A single centralized view that immediately connects and surveys real-time loan modification workout data designed to power your ability to respond to borrower interactions effectively and aptly. Entirely integrated with your CRM and servicing data, CLARIFIRE CONTACT™ uses interconnected workflows, on-screen alerts, and comprehensive dynamic views to present responsive loan information back to your customer support team. This creates an open, transparent individualized experience for borrowers seeking loan modification assistance while on the phone. CLARIFIRE CONTACT delivers a simplified connection through your dialer technology, full views of all process histories, and borrower profiles that drive efficiencies and customer satisfaction.

Benefits of CLARIFIRE® for Mortgage Loan Modification

eliminate gaps between point solutions

Seamless Servicing

CLARIFIRE® offers complete visibility into real-time mortgage loan modification activity, results, and responses. With a simple click, both servicers and borrowers have access to nimble, seamless, smart workflow automation that traverses your organization. Connecting data, processes, and roles so critical loan information is available instantaneously and seamlessly through CLARIFIRE®. Never leave the software. Seamlessly place orders, receive services, and more from your business partners, systems of record, and business partners.

connect multiple systems

Borrower Retention

CLARIFIRE® provides guidance while offering your borrowers personalized, 24/7, self-serve access to the information and responses they need. By establishing preferences, alerts, and real-time queries, your borrowers will be in control of the loan modification activities necessary to transition back to making stable payments. This level of personalized service is a free means to build your business by instilling confidence while establishing borrower retention and operational resilience.

supports changing regulations

Document Control

Providing a modern, centralized API, CLARIFIRE® readily connects to document management services, as well as in-house and external partners. Innovative and smart, the API saves time, cost, and headaches created by historically slow document generation and management. CLARIFIRE® automates business rules related to documents, requirements, and stacking orders, using smart logic that minimizes file review times while reducing errors and wasted interactions related to trailing documents.

rapid speed

Workout Decisioning

Get out of the workout rules development business with robust, current decisioning that combines industry regulations, as commonly interpreted, into a proven workout rules management application. CLARIFIRE® delivers data-driven decisioning that is accessible throughout your organizational processes, providing immediate access to eligibility options and workout processes while making exceptions visible. Results are instantaneous, and complexity is removed with the added connectivity and innovation of the CLARIFIRE® API.

collaborate with borrowers

Self-Serve Access

CLARIFIRE® delivers private-labeled access to no-touch 24/7 results, reducing touchpoints and improving efficiency. Servicers and sub-servicers can easily extend capabilities with this seamless approach. Borrowers get real-time automated responsiveness to the results they need, delivered entirely through self-serve processes that can be personalized using borrower preferences and alerts. Borrowers gain the ability to review new updates, workout approvals, and options for their loan modification on their schedules.

supports changing regulations

Informed Intelligence

Servicers and borrowers have access to CLARIFIRE®’s searchable automated knowledge base that takes the angst out of operational stress by providing timely relevant loan information on demand. Given the rapid issuance of investor, state, and regulatory requirements, which has escalated during natural disasters and the pandemic, your organization and borrowers need access to informed intelligence to avoid operational disruption, now more than ever.

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.