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eMASON's Clarifire® Application Enables Mortgage Industry to Comply With Single Point of Contact Guidelines
Jul 08, 2011 (01:07 PM EDT)
CLEARWATER, Fla., July 8, 2011 /PRNewswire/ -- eMASON, Inc., a leader in business process automation software, today announced that its Clarifire application enables mortgage servicers to communicate directly with borrowers with its new feature, the Clarifire Community portal, while providing one "Single Point of Contact," as required by the Obama administration, federal regulators and Congress.
The U.S. Department of the Treasury recently released a supplemental directive to the Making Home Affordable Program that requires mortgage servicers to provide delinquent borrowers with a single point of contact throughout the entire default resolution process. The new policy guidance requires servicers to provide delinquent borrowers with a relationship manager by September 1, 2011.
eMASON has implemented Clarifire's Community Portal to provide GSE and servicers with the technology necessary to meet the September 1 implementation deadline. The software enables them to timely deliver modifications, reduces cycle times and improves communication. The portal provides borrowers with a platform to communicate, receive notifications, upload required financial documents and review real-time status of their workout. Servicers using the Clarifire Community portal participate in the automated workflow, the workout qualification and decisioning for borrower inquiries, and have access to robust reporting and auditable processes that meet the requirements of the borrower delinquency management model.
"Clarifire provides the industry with the Single Point of Contact though a technology platform of reliable centralized communication and work out activities between servicers and borrowers," commented Jane Mason, president & CEO of eMASON. "Innovative technology like Clarifire is the heart of the solution for mortgage finance reform and the single point of contact requirement and provides the industry with secure interactive web-based workflow."
This technology platform is the single access point for all types' participants in the default management cycle. Counselors, mediators, attorneys, brokers, servicers, investors, and more share business processes.
eMASON's Borrower Delinquency Model (Single Point of Contact) experts are available to assist mortgage servicers in their utilization with the new Clarifire Community, including:
About eMASON, Inc.
eMASON, Inc. is an innovative software as a service (SaaS) solution provider specializing in web-based business process automation though its Clarifire application. eMASON's Clarifire application has been embraced by over 30,000 users. The application provides business process automation, secure centralized communication, real-time collaboration, and images, increased efficiencies and reduction in costs. The secure private cloud environment supports this easy to use solution for any industry. eMASON's clients include Fortune 500 companies. Based in Clearwater, Florida, eMASON is one of the nation's fastest-growing private companies as ranked in the 'Inc. 500.' Please visit emason.biz for more information.
If you would like more information, download the white paper from our website (emason.biz). The white paper provides the summary of Delinquency management and default prevention and how the Clarifire application supports each one of the requirements.
Servicers can participate in the Clarifire Community roll out by contacting eMASON at 888.222.3370.
SOURCE eMASON, Inc.