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Financial Services Solutions

eMASON's technology provides a one-stop process management solution for the financial services industry. To obtain more information on specific workout types and financial solutions offered, please click here to view our White Papers.

The immediate benefits of using the Clarifire application platform:

• Reduces the cost of doing business. Business users in any industry can create new processes without incurring additional IT costs while increasing automation to decrease cycle times.
• Eliminates human error, reduces backlog, and increases your capacity.
• Through its notes and image feature, the need for additional means of communication (email) or document storage is no longer needed. All necessary credentials can be uploaded to the Clarifire application.
• Provides complete flexibility so you can outpace ever changing market conditions.
• Creates an all in one view of all processes related to a borrower.
• Clarifire Community™ brings efficiencies to business by joining all involved parties onto a common platform and single access point to share data and work together as a community.
• Offers a Single Point of Contact as a Servicer representative is able to assist a borrower as they have access to see exactly what is going on in all areas of default through the Clarifire application. One View. One Click. One Platform.
• Current processes in the Clarifire application: default management, mediation management, consumer contact and portal, customer care and calculations, and healthcare solutions.
• Loss mitigation calculator and workflow makes it easy to gather necessary information and reach the appropriate workout options. The Clarifire Calculator™ automates the decisioning process which further reduces the outlay of time.

The Clarifire Application Data Connectors
Fannie Mae HSSN Connector

The Fannie Mae HSSN Connector allows the transmission of standard loan information from the client's system of record to the Clarifire application and to HSSN. This connectivity eliminates dual data entry, reduces the cost of doing business and results in the automatic update of the user's system of record as well as HSSN, eliminating the need to manually update HSSN.

The connector reduces HSSN rejects, improves data integrity and the quality of reporting. The Clarifire application is certified with Fannie Mae workout rules for Home Affordable Modification Program (HAMP), MOD 24 and MOD 2011 standard loan modification, and pre-foreclosure, short sale, workout types, deed in lieus, workout results are based on certified Fannie Mae workout rules.

The Clarifire HSSN Connector receives and processes many different data formats including bulk XML or XML web services. eMASON's professional services team can provide standardized schemas and any customization needed. eMASON's Clarifire application provides you with one place to access all of your mission critical data. Our custom web services drive data in and out of other systems preventing the need to update multiple databases at once.

Contact us for additional information.

Clarifire's proven results for Fannie Mae Servicers:

• Immediate Responses: Servicers receive answers on non-delegated loans from Fannie Mae in just a couple minutes as opposed to 10 days or more!
• Quality Assurance: The messaging feature in Clarifire validates submitted data and loan information resulting in 65% more delegated submissions!
• Automated Document Assembly: all workout type documentation is available and can be automatically generated in the Clarifire HSSN Connector.
• Financial Reward: According to a large servicer, the Clarifire application saved the company $1.5 million in 3 weeks! The savings continued to grow with their use of the Clarifire HSSN Connector.
• Bulk Processing feature eliminates hours spent uploading loans manually.
• 8,747 total loss mitigation workouts were submitted to servicers by attorney firms. 79% workouts being retention; 21% workouts being liquidation.
• 1,125 deed-in-lieu workouts were successfully executed and closed in HSSN this year as part of the delegated deed-in-lieu special campaign in the Clarifire application. This special DIL campaign trended upward each quarter with an 89% increase of executed/closed workouts in average volume year over year.
• 1,100 repayment plans were completed by Fannie Mae law firms using the Clarifire application.

Fannie Mae has adopted the Clarifire application to manage its internal escalation processes, including submissions and approvals, which streamline their workflow and reduces workout times. The Clarifire application features a direct connection to Fannie Mae, eliminating the need to update through HSSN.

Currently more than 30,000 users work on the Clarifire application to automate its workflow. More than 110 attorney firms and 24 mega-servicers in the Fannie Mae network use the Clarifire application.

Compliance and Regulatory Change Management

Technology is the heart of the solution to innovate evolving compliance requirements. Continuously changing regulations demand software that changes easily with policies and business processes to drive organizational compliance. The Clarifire platform provides agile and auditable solutions that foster industry compliance and regulatory change management.

Clarifire empowers a user as a single point of contact to see all activities and statuses at a glance on a borrower's file. It provides a full history of milestones as well as notes, images and issues that a single point of contact can reference on one screen. The user no longer needs to access different work streams on different screens or contact separate departments for status updates. One View. One Click. One Platform.