Workflow automation leader becomes one of the first to integrate with Freddie Mac’s default management platform, Resolve, which enables servicers to save time and reduce costs in automating the workout decisioning process
October 15, 2021 – ST. PETERSBURG, Fla. – Clarifire, a leader in workflow automation, announced that the CLARIFIRE workflow automation application has gone live with Resolve, Freddie Mac’s new integrated default management solution. Resolve offers B2B integration through application programming interface (API) technology to speed up loan workout option processing for servicers and provide faster mortgage assistance for borrowers.
CLARIFIRE leverages the Resolve API Suite to deliver rapid, rules-based workout decisions to servicers. The integration enables servicers to use Resolve automatically and seamlessly from CLARIFIRE to rapidly calculate and display decision workouts, potentially while the servicer is on the phone or engaging with the borrower.
CLARIFIRE is an award-winning automated workflow technology for servicers that uses intelligent business rules to automate complex processes and quickly distribute critical information and documents to users, allowing them to respond faster to borrower needs.
Freddie Mac started with a handful of software vendors to integrate their technologies with Resolve. Jane Mason, founder and CEO of Clarifire, said her company’s clients are “super excited” about the integration. Before Resolve, determining the correct workouts under Freddie Mac’s guidelines and documenting the decisioning process took more time and effort.
“We are thrilled that Freddie Mac reached out to us to become one of the first approved vendors for Resolve,” said Clarifire CEO Jane Mason. “Our integration is further evidence that CLARIFIRE is one of the most innovative and valuable servicing technologies in the mortgage industry. 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. More importantly, it ensures that borrowers get a faster response when seeking help.”
“The power of the integration lessens risks, cuts costs, and streamlines our servicing processes, positioning us to grow even more,” said Roundpoint Mortgage Servicing executive David Hughes, an avid CLARIFIRE user, says.
Resolve takes a borrower’s assets, income, and expenses and determines the appropriate workouts available to the borrower, such as a payment deferral or loan modification. Servicers can also get details on why a borrower doesn’t qualify for a particular workout.
The integration enables retention and liquidation workout eligibility decisioning, approvals and settlement. CLARIFIRE clients are currently taking advantage of the retention component and will eventually be able to perform liquidation workouts, such as short sales and deed-in-lieu transactions.
“It’s our vision to reimagine servicing through innovative solutions…Resolve will transform how the industry manages defaults. Having an integration partner like CLARIFIRE accelerates that vision,” said Cecelia Raine, Vice President of Servicing Strategy and Integration at Freddie Mac.
About Freddie Mac
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors, and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac, and Freddie Mac’s blog FreddieMac.com/blog.
Clarifire is a privately held, woman-owned corporation that offers the CLARIFIRE business process automation software through a SaaS model to the financial services industry. Started by a process-focused entrepreneur, Clarifire, the company, is a group of workflow experts who created the award-winning CLARIFIRE workflow application to make a difference for businesses. The company has over a decade of experience in process proficiency and software delivery. As a SOC 2 Type 2, Microsoft Gold Certified Partner and WBENC certified corporation, Clarifire guides organizations through the chaos and into organizational efficiency. Learn more about how you can leverage workflow automation now at: www.eclarifire.com.