VENDOR MANAGEMENT - FINANCIAL


HOW IT WORKS

The CFPB guidelines for service provider oversight have set the industry standard for due diligence in vendor management. Coordinating the varied touch points with service providers as different types of transactions move through the mortgage lifecycle can be a complex undertaking that loan origination systems and servicing systems only partially support.

CLARIFIRE's® SaaS workflow solution easily integrates systems and participants into one workspace by orchestrating the industry stakeholders' exchange of documentation, work activities and communication. CLARIFIRE provides visibility and controls that avoid consumer harm and satisfies regulatory requirements issued by different agencies by:

  • Mitigating risk through standardized processes to monitor performance, identify risk areas and develop action plans
  • Enabling real-time oversight of vendor contracts and status of relationship through interactive dashboards
  • Receiving automated notifications for reviews based on risk level
  • Automatically identifying data and documentation requirements through business rules based on vendor type
  • Providing configurable web forms to collect data for reviews, by vendor type, from multiple stakeholders
  • Providing real time, bi-directional interaction with vendors through CLARIFIRE’s on-line portal, COMMUNITY
Demo Financial Services

CLARIFIRE is truly "BRIGHTER AUTOMATION®."