LOSS MITIGATION AND DEFAULT SERVICING SOLUTION


Technology to Future Proof Your Organization

Even though the housing crisis is over and the markets have recovered, there is still a need for solid loss mitigation and default servicing solutions that standardize the delivery of modified financial products and services. Clarifire has over a decade of experience providing end to end servicing solutions to large financial institutions, who use our CLARIFIRE® workflow automation platform to simplify the operational and regulatory complexities that impact the mortgage industry.

Default Servicing Solution and Workout Decisioning

CLARIFIRE provides default servicing solutions that streamline both retention and liquidation processes for servicers. Our workout underwriting feature, CLARIFIRE CALCULATOR®, is bundled with workflow, and solves for a specialized need to serve borrowers with options.

The same CLARIFIRE workflow platform that connects your servicing organization end to end, provides cohesive and comprehensive default management processes that increase the quality of your workout decisions, while minimizing the costs of keeping borrowers in their homes.


CLARIFIRE is the only workflow automation solution with all the latest Freddie, Fannie, FHA, VA and USDA current workout rules, calculations and workflows, including disaster and the latest GSE forbearances.


Loss Mitigation Workflow Solution

While loss mitigation processes have been greatly standardized over the last decade, further evolution continues, as evidenced by recent GSE forbearance plan changes, and new investor disaster loan modification. Additional disaster relief options include a mandatory 90-day foreclosure moratorium, forbearance, permanent loan modifications, service incentives, fee waivers, and more.

CLARIFIRE workflow minimizes the costs that loss mitigation variations bring by automating all disaster workout waterfalls and offerings along with launching the requisite workflows to control and govern the timing of activities per the regulations.

Benefits of CLARIFIRE

  • Instant access to latest automated decisioning, with all the latest Freddie, Fannie, FHA, VA and USDA current workout rules, calculations and workflows (including disaster and the latest GSE forbearance)
  • Enables servicers to meet and enforce timeframes and requirements set forth by investors
  • Reduce loss mitigation cycle times, costs, and drive workout and workflow efficiencies
  • Decrease resources required with our easy to use, one-click waterfall workout decisioning and structuring
  • Improved customer experience and collaboration by promoting borrower interaction and document sharing via our online, secure CLARIFIRE COMMUNITY® portal
  • Elevate your call centers with CLARIFIRE CONTACT®, and bring your customer touch points to the next level
  • Monitor regulatory compliance with visibility into CFPB metrics from your dashboard
  • Real-time connectivity to HSSN and SMDU for Fannie Mae loans - including Flex Modification and Extend Modification for Disaster Relief.
  • Automated work assignments to your teams based on your process flows and work distribution needs
  • Support workouts for private investors and specialty products with our mortgage workout modeler
  • Add new rules and make changes quickly
  • Create and send documents automatically to print vendors of your choice
  • Find out more by downloading our FAQ eBook

 


Download our "CLARIFIRE Workflow: Take the Chaos Out of Servicing" eBook!

Add flexibility and built-in rules for all investors to your loss mitigation processes — including disaster modifications.

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Download our Loss Mitigation Frequently Asked Questions Document.

Loss Mitigation FAQ

Learn more about FHA disaster servicing standards in this recent blog ...

FHA standards disaster relief

Learn more about VA disaster servicing requirements in this recent blog ...

VA standards disaster relief

Read about latest USDA requirements and expanded borrower disaster relief in this recent blog ...

VA standards disaster relief


CLARIFIRE is truly "BRIGHTER AUTOMATION®."