Workflow is the backbone of the CLARIFIRE application. Find out how workflow tames the organizational chaos to keep your loan servicing operations running seamlessly.
For over a decade, financial organizations have used CLARIFIRE®, the automated workflow and workout application, to connect point solutions, business partners, customers, and most importantly, their processes in a single, secure mortgage servicing application. Interactive, connected, and nimble workflow driven by no-code intelligent business rules control quality, mitigate risk, and improve compliance. Repeatable, standardized mortgage processes that embody your organization and industry knowledge, simplify the complexities of your operations to eliminate the chaos in mortgage loan servicing.
The pandemic, with its remote workforces and extensive changing relief guidance, is forcing the industry to embrace digitization, rapid implementation, and innovative tech solutions to process the volume of requests, deferrals, and permanent workout resolutions. CLARIFIRE Workflow software provides the foundation and means to push mortgage servicing to the new level of digital transformation and modernization required to elevate current industry needs and keep the customer in their home.
The dynamic, changing, real-time views within our software enable servicers to tame the chaos that has become the industry’s new normal. Our workflow has the agility to change rapidly to meet your ever-changing and evolving servicing needs. That includes the flexibility to support the continued influx of regulatory and operational disruption that exists today. With CLARIFIRE, you can have the peace of mind that your servicing operations are ready for any challenges that come now or in the future.
Cloud-based loan servicing workflow future proofs organizations for the inevitable and disruptive changes. The modern mobile customer wants this digital accessibility to do what they want when it’s convenient for them. Loan workouts are synchronized with business rule intelligence to drive workflow automation. Organizations can create their own change or adopt the proven industry library of processes for fast results.
Workflow automation is simultaneously pushing and pulling content, such as data, images, documents, and work activities, from servicers’ multiple systems. This robust API connectivity creates one powerful, seamless servicing ecosystem.
CLARIFIRE offers the capabilities to outpace the continued influx of regulatory AND operational disruption within the mortgage industry due to the pandemic and increasing numbers of natural disasters. The workflows and the workouts, the risk metrics, and the exceptions management change as rapidly as the demands.
Customers access the private labeled, CLARIFIRE COMMUNITY® , from any browser and gain real-time, automated, no-touch responsiveness and results. Your customer is able to serve themselves and review updates through the technology on their own timeframes.
With one click, workflow automation connects processes, departments, and roles, changing displays in real-time with critical information that applies to those specific processes and users. Gaps are eliminated and can be sunsetted between point solutions creating cohesive views of the systems of record without leaving the CLARIFIRE system.
Dashboards aggregate and tag with KPIs the data needed to display vital metrics necessary to control and proactively mitigate mortgage servicing risks throughout your organization. Real-time changing numbers, alerts, volumes, exceptions, forecasts, and easily configurable queues nimbly present what you need and what you want to see no matter the role.
Transforming your business methodology and operational results with a single, straight-through, no-touch automated approach that powers interactively connected workflows across your organization sounds like futuristic technology. However, this innovative tool for operational excellence is here, available now, and here’s why your organization should embrace modern automation for the management of your mortgage servicing operations.
Loan servicing software can increase the speed at which you can process customer requests, including workout decisioning for modifications, bulk processing of solicitations, or pre-foreclosure recommendation automation. Our servicing software automates responses to customer inquiries with intelligent business rules or bulk process large volumes of like requests, you can drastically shorten cycle times as data is processed and workflow launched without the need for hands-on manual efforts or the running of old fashioned queries. This increase in processing speed drives down the overall servicing cost per loan.
Workflow automation within your servicing processes provides the foundational tools for work to be executed in a repetitive nature that produces organizational consistency, reduces human error, improves quality, decreases the risk of skipped steps, and eliminates unnecessary redundancy. Cycle times are reduced, quality of work increases, and redundancy is eliminated, freeing up resources to help with exception handling, account reviews, or other tasks where needed.
Without self-service capabilities and workflow automation, you are limiting the processing capacity of your organization by the number of staff you have and the work-time schedule to which they operate limits throughput. With process automation, the system can complete the next step based on complex business rules at any hour of the day or night, which is not possible when processing the same task manually or working in separated point solutions. Our loan servicing system rapidly connects all of the roles in your organization automatically, systemically driving real-time results.
Organizational efficiencies, governance, and controls are gained as workflow automation drives down loan management costs through the utilization of standard processes and easy to add business rules. Operational processes are transformed into a workflow by breaking down and clearly defining each action in a process only one time. Then, the application takes over and does the work. Decisions are no longer subjective, and processes are now consistent and repetitive. Everyone performs the same task, in the same way, each time. Auditable, visible, and changeable.
When the management of servicing loans is driven through a digital centralized environment, repetitive tasks generate the same, consistent outcome each time they are executed. Business rules configured to the needs of the organization provide the auditable system of controls and visibility necessary to thrive.
Clarifire continues to create strategic partnerships with other major third-party technology and service providers to seamlessly include their products and services to extend CLARIFIRE’s workflow functionality. As a Clarifire client, servicers have access to these system integrations that further enhance the power and capabilities that our automated mortgage servicing software provides to its users. Your resources never have to leave the CLARIFIRE system. Automated clicks place orders, track fulfillment, and display results.
Users of CLARIFIRE for default servicing and loss mitigation will benefit from our integration with solutions from Boston National Title. Servicers are able to further increase efficiency by automating requests and responses for property reports, mortgage modification policies (MMP), and similar documentation from Boston National Title—never going outside CLARIFIRE. With these additional services delivered rapidly to their dashboards, they have robust visibility and capabilities.
Our integration with CoreLogic Credco automates servicers’ access to CoreLogic Credco credit reports and credit scoring solutions directly through CLARIFIRE. The customer receives loss mitigation options from the Credco system in just minutes. This strategic partnership prepares servicers for seamless transitions into new demands brought on by the ongoing pandemic and other changing industry demands.
The Clarifire partnership with First American Mortgage Solutions empowers a mortgage servicer to automate orders for First American's FirstMod loss mitigation products and services suite. CLARIFIRE users are now able to receive loss mitigation documents, title reports, partial claims, and lien priority insurance, from the FirstMod system, directly through their CLARIFIRE user dashboards, never having to leave the application.
CLARIFIRE® connects to Freddie Mac’s Resolve® Solution to further strengthen and streamline servicing workouts. This software integration allows CLARIFIRE users that service loans to Freddie Mac to quickly determine the correct workout options under Freddie Mac's guidelines. This is not only saving servicers an enormous amount of time and effort that would normally be spent performing loan workouts manually, it also eliminates the manual efforts of resources to update the Freddie Mac systems for reporting. It’s also making sure borrowers who need home mortgage assistance are able to get it fast. Decreased cycle times, better servicer performance, and digital audit trails all enhance the processes.
CLARIFIRE provides borrowers with self-service options for requesting mortgage assistance from any browser in real-time, making customer interactions completely “touchless”. Automation is available 24/7 via a link on your site, keeping your customer engaged and up-to-date on the status of their loan.
CLARIFIRE offers an innovative, easy-to-use loss mitigation solution designed to provide servicers with operational visibility and control. The power of process automation combined with a robust loan workout rules engine provides servicers with the capability to help struggling homeowners promptly.