Find the Right Solution for Struggling Borrowers


Simply put, loss mitigation is the art of managing delinquency to avoid default servicing. That leaves mortgage servicers with the task of effectively working with delinquent borrowers to minimize losses and mitigate foreclosure, all while finding the right solution for borrowers facing imminent default. Whether involving pre-foreclosure sale or deed in lieu of foreclosure, before initiating any legal action, servicers, servicer attorney vendors, as well as lenders, have to demonstrate their efforts to deploy solutions, strategies, and efforts to reduce investor risk exposure and offer meaningful relief to struggling borrowers. What are you doing to deliver loss mitigation strategies and successfully maneuver homeowners out of default and into modification?

The loss mitigation process is highly action-oriented and necessitates sophisticated, feature-rich workflow automation software to achieve the home loan modification results essential to prevailing in today’s market. Loss mitigation efforts need to reach beyond the myriad of processes and alternatives that are regularly published by investors, oversight agencies, and states. Mortgage servicers need to be strategic, intelligent, modern, and innovative, incorporating a new approach to real-time access, borrower engagement, workout processes, and regulatory accountability. CLARIFIRE® is here to help.

Benefits of Loss Mitigation Workflow Automation

Rapid Seamless Servicing


CLARIFIRE® offers complete visibility into real-time activity, results, and responses. With a simple click, both servicers and borrowers have access to nimble, seamless, smart workflow automation that connects your organization. This includes operational processes, role management, events, documents, and data, ensuring critical information is available instantaneously and seamlessly throughout the loss mitigation process. The real benefit is never having to leave the CLARIFIRE® application as you complete the various operational processes that occur throughout the loan modification and default servicing lifecycle.

Proven Regulatory Confidence


Using sophisticated workflow that orchestrates default servicing processes amidst temporary, parallel, and permanent regulatory guidance, CLARIFIRE® ensures servicers are positioned to confidently deliver the multitude of industry relief programs. CLARIFIRE®’s loan modification process automation software incorporates the common interpretation of federal regulations and investor requirements to provide intelligent loss mitigation workflow, decisioning, and a searchable knowledge base that advances process capabilities and operational quality. As regulatory volatility continues to escalate alongside increasing natural disasters and pandemic impact, servicers need this level of regulatory confidence to avoid operational disruption.

Unrivaled Workflow Decisioning


Get out of the workout rules development business with robust, current decisioning that combines industry, investor, and proprietary requirements into a proven workout rules management system. Leveraging the power of workflow and data, CLARIFIRE® delivers intelligent decisioning that is accessible throughout your organizational processes, providing immediate access to eligibility options and workout processes while making exceptions visible. The results are instantaneous, and complexity is removed with the added connectivity and innovation of the CLARIFIRE® API.

Real-time Borrower Access


CLARIFIRE® delivers private-labeled portal access to no-touch 24/7 results, reducing touchpoints and improving the borrower experience. Servicers and sub-servicers can easily extend capacity and capabilities with this seamless approach. Your users gain real-time automated responsiveness to the results they need, delivered entirely through self-serve processes that can be personalized using preferences and alerts. Borrowers are able to manage their profile, review relief options, workout approvals, updates, and statuses as they effectively transition back to a stable payment cycle.

Contemporary Loan Document Management


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, money, and the headaches created by historically slow document generation and management. Using intelligent document processing to automate business rules for foreclosure avoidance documents, requirements, and stacking orders, CLARIFIRE® significantly minimizes review times while reducing errors and wasted interactions related to trailing documents.

Couple accessing loan information online

Provide Real-time Customer Access to Mortgage Relief


Like all customers, delinquent borrowers have become exponentially more reliant on technology and subsequently expect their mortgage servicer to follow suit. Today’s borrower wants to be able to effortlessly compare their options for relief and start a loss mitigation package, as well as understand what to expect along the way. CLARIFIRE® understands the needs of distressed borrowers and delivers capabilities that allow servicers to offer real-time 24/7 access to loan modification and default servicing processes. Supporting borrowers with innovation that helps them to self-serve, gain immediate answers to their questions, post documents, and directly access workout programs, CLARIFIRE® delivers a unique, configurable customer experience.

CLARIFIRE COMMUNITY™ helps your customer select their needs, propelled by all-inclusive, real-time data that yields meaningful, accurate feedback. This level of self-serve accessibility ensures your distressed borrowers are able to readily initiate relief support activities, guiding themselves through the process, saving time, money, and, more importantly, alleviating stress on both borrowers and servicers. CLARIFIRE® creates harmony by using technology to simplify results, accelerating interactions, fostering retention, and building customer loyalty.

Multiple options for next step

Fast Track Relief Options with Rapid Workout Decisioning


As the tensions, volatility, and chaos of managing distressed borrowers continue to swell due to natural disasters and pandemic impact, CLARIFIRE® persists in its efforts to help servicers fast-track relief. Providing loss mitigation software with advanced workout decisioning since the financial crisis, including a strong concentration in the processes and decisioning tied to relief, CLARIFIRE® offers straight-through processing and intelligent decisioning, including instantaneous workout results. Whether accessing CLARIFIRE®’s modern approach to automated workflow, advanced rules management, decisioning, and AI, or the proven capabilities of CLARIFIRE CALCULATOR™, mortgage servicers are able to expedite responses and satisfy borrower relief needs.

CLARIFIRE® results are driven by an intelligent default workout underwriting engine that couples sophisticated workflow automation and industry rules for advanced workout results. CLARIFIRE®’s loan modification software offers distressed borrowers access to relief alternatives 24/7, with no-touch access from any device and immediate results to even the most complex of scenarios. This is how CLARIFIRE® fast tracks borrower relief from inquiry through workout.

New regulations coming

Ease the Operational Impact of Regulatory Changes


Loss mitigation programs continue to fluctuate with new and temporary options continually added and retired over time. Propelled by evolving relief needs, regulatory burden is no joke, especially for mortgage servicers who have been heavily scrutinized by regulatory bodies for more than a decade. Struggling under the lumbering cost to service, servicers need partners like CLARIFIRE® in order to succeed in their efforts to navigate the maze of regulation by expertly utilizing innovation and automation.

CLARIFIRE® workflows support automation, rules management, decisioning, and a knowledge base that encompasses the complexity of today’s regulation. Having advanced CLARIFIRE®’s innovative technical sophistication alongside mortgage servicing growth for over a decade, we incorporate the common industry interpretation of FHA, VA, USDA, Fannie Mae, and Freddie Mac requirements. Developing amidst evolving federal regulation and oversight, CLARIFIRE® leverages data and sophisticated decisioning to ensure servicers are positioned to stay ahead of agency mandates and examination.

Improve Loss Mitigation Management and Success


No matter how close we get to creating the perfect manufacturing and fulfillment line for servicing modification processes, the number of borrower file scenarios that don’t fit in the box continues to increase and evolve. This scenario keeps servicers chasing customer expectations in conjunction with keeping changing requirements and regulations current. CLARIFIRE® incorporates the lessons learned from this unceasing industry volatility and delivers easy to implement loan modification software. This process automation application augments servicing systems to streamline operations, add flexibility, and create transparency from initial access through workout resolution and follow-up. Whether it’s the Consumer Financial Protection Bureau’s directive stating that mortgage servicers’ loss mitigation programs must be compliant, fully staffed, and prepared to handle the influx of requests in a timely manner, or the Federal Housing Finance Agency’s Future of Loss Mitigation overview, CLARIFIRE® delivers proven results.


We pride ourselves on our ability to incorporate FHFA’s five key elements to success so that you can do the same:

Accessibility


Providing a simple process for homeowners to seek assistance.

Affordability


Providing modification terms that result in meaningful payment relief.

Sustainability


Offering solutions that resolve the delinquency for the long term.

Transparency


Ensuring that the process is clear and understandable.

Accountability


Ensuring that there is an appropriate level of oversight.

Learn More About CLARIFIRE®

New Call-to-action


Workflow is the backbone of the CLARIFIRE® application. Find out how workflow tames the organizational chaos to keep your loan servicing operations running seamlessly.

New call-to-action


Give your customers the power to make requests, establish servicer contact, or reap the benefits of no-touch automation and get results in real-time.

automated-workflow-workout-application

CLARIFIRE® is the Servicer's Solution for Loss Mitigation Workflow


Does your organizational dexterity continue to erode under the stress of industry change and technical innovation? Stop playing catch up, wondering if your processes are compliant, using manual workarounds, paper files, or relying on spreadsheets to track exceptions. It’s time to act on your quest to innovate and strategically accelerate your approach to default servicing. CLARIFIRE® offers servicers a proven, easy to implement means for modernizing your servicing processes from early state delinquency through foreclosure. Our robust suite of proven industry solutions, including sophisticated loan modification software, is ready to implement into your existing servicing system. Adding complex, scalable workflow automation already designed to manage today’s borrower expectations and experience, CLARIFIRE® will help you achieve operational excellence and technical innovation that is both cutting-edge and cost-effective. Capitalize on your organizational prowess, add technology capabilities, propel your loss mitigation efforts, and modernize capabilities with CLARIFIRE®. Contact us today for a demonstration of best-in-class servicing software.