As an advocate of automated workflow, system interoperability, and no-touch workout interactions, Clarifire's vision is to provide automation that provides consistency and quality for our clients so they may provide the same to their customers. The implementation of Freddie Mac's Resolve API supports that vision and aligns with our clients' needs to provide the borrower with self-service options to get to a resolution quickly in these tumultuous times.
This integration extends CLARIFIRE®'s workflow capabilities by continuing to integrate leading third-party products and services within the application. CLARIFIRE® users that service loans to Freddie Mac can quickly determine the correct workout options under Freddie Mac's guidelines.
CLARIFIRE® leverages the Resolve API Suite to deliver rapid, rules-based workout decisions to our clients. The integration enables servicers to use Resolve automatically and seamlessly from CLARIFIRE® to calculate, display, and evaluate decision workouts, while the customer is on the phone, or accessing the CLARIFIRE COMMUNITY™ online via a mobile device. Connectivity with Resolve ensures that borrowers who need assistance are able to get it fast. With the capability to accelerate their borrower response times, servicers are turning connectivity challenges into operational efficiencies.
How Does the Integration with Resolve Work?
The connectivity between CLARIFIRE® and Resolve is seamless. A request for a workout decision is complete with simple clicks in the CLARIFIRE COMMUNITY™, and is then sent from CLARIFIRE® to Resolve. Resolve takes a borrower's data and determines the appropriate workouts available to the borrower, such as a payment deferral or loan modification. Freddie Mac responds with a real-time eligibility decision. For borrowers who do not qualify for particular workouts, servicers receive details as to why they do not qualify for that workout. Eligibility decisions, along with their details are then passed through to the borrower. This saves servicers a huge amount of time and labor when performing loan workouts, plus eliminates the need to manually update the Freddie Mac systems. Never having to leave CLARIFIRE® for results ensures that borrowers who need assistance are able to get it fast.
Benefits of Our Loss Mitigation Solution
Enhanced Customer Service
No-touch pre-approval of workout calculations via our direct connection to Resolve speeds up turnaround times on mortgage resolution which leads to improved and timely communications and results to the borrower.
Reallocation of Resources
The time savings realized with the Resolve API integration powers servicing staff to refocus their time assisting homeowners manually, dedicating more time to quality control, and redistributing resources to more complex exception requests.
Reduction in Rework
Cutting back on the amount of manual entry decreases the amount of human error and leads to a reduction in defects.
Elimination of Manual Entry
Servicing resources save many hours every month and receive a more seamless process with automated reporting as users do not need to manually input updates into WP2.
Workouts are Current
CLARIFIRE®'s integration with Resolve leverages the rules and models driven by Freddie Mac's Single-Family Seller/Servicer Guide. Before our connection with Resolve, determining the correct workouts under Freddie Mac's guidelines and documenting the decisioning process took more time and effort.
Support Increasing Volumes
As millions of forbearance plans come to an end, Freddie Mac's servicers can now streamline loan workouts, saving them an incredible amount of time and labor. Servicers are able to process the volumes coming through with little in-house impact to workforce.
Speed to Market
The speed at which changes can be made helps servicers and customers with automation options as they become available. Servicers are able to keep in line and ahead of industry changes and help their customers have relief.
