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""Fannie Mae"":http://www.fanniemae.com will utilize eMASON's Web-based Clarifire application to comply with the foreclosure pre-filing mediation process mandated by the Florida Supreme Court.
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Issued in December 2009, the ""statewide mediation program"":http://dsnews.comarticles/florida-supreme-court-orders-pre-foreclosure-mediations-2010-01-05 aims to open up communication between lenders and distressed borrowers prior to foreclosure proceedings to hopefully lessen foreclosure cases in the state, which has one of the nation's highest foreclosure rates.
According to a statement from ""eMASON"":http://www.emason.biz, a Florida-headquartered software provider, Clarifire enables secure, automated workflow for loan servicers and business partners involved in the mediation process, including
[COLUMN_BREAK]retained attorney firms, mediation case managers, and counselors -- all on a consolidated platform.
""We are extremely proud to provide our advanced technology to this important Florida mediation initiative to assist borrowers in need,"" said Jane Mason, president and CEO of eMASON, Inc. ""Clarifire automation delivers an innovative and standardized approach to managing workflow, centralizes communication and documents, and allows all parties in the mediation process the ability to work together on one platform for complete auditability, gain in efficiencies, and reduction in costs.""
The Florida Supreme Court requires that servicers offer mediation to homestead residential borrowers before a summary judgment is filed and a foreclosure sale held. Clarifire works to improve the prospect and cycle times associated with assisting borrowers by offering mediation and related workout options early in the loan's delinquency, eMASON explained.
The application also automatically routes documents, presents work on role-based dashboards, and automates workflow and notifications, among other capabilities.
Florida is the first state to use Clarifire automation for processes related to pre-filing mediation, but more than 25,000 users currently employ the application to automate workflow.
