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Most Valuable Company Profile: Get to Know Claims Recovery Financial Services

This piece originally appeared in the March 2022 edition of DS News magazine, online now.

What makes CRFS a “Most Valuable Company?"
As we celebrate our 20th year in 2022, CRFS diligently maintains its strategic focus on being the industry leader in consulting and claims management outsourcing in the post-default segment of the residential mortgage industry. This focus underpins one of our primary corporate objectives, which is to be a strategic partner that helps our clients sleep peacefully at night, in the knowledge that their pre- and post-foreclosure claims are being handled accurately and timely. As company President Steve Mowers often says, “The value proposition to our clients is pretty straightforward—we reduce risk while improving financial outcomes.”

Put simply, over the course of our 20-year history, CRFS has become the recognized leader in pre- and post-default claims management outsourcing and consulting solutions. Dedicated to providing unmatched timeliness, exceptional customer service, and measurable results, CRFS delivers industry-leading default services and claims processing solutions. We truly believe that we continue to set the standard for excellence in the industry.

How do you nurture and recruit new talent?
While our corporate headquarters is in Western New York State, we’ve maintained a remote component to our staffing strategy since 2019. This allows us to recruit talent from across the country to ensure we have access to the best and brightest the industry has to offer at all levels of the organization. Our comprehensive, data-driven compensation models are designed to integrate our corporate goals with employee incentives, including but not limited to cash compensation, that are important to our teams. We also employ an integrated Talent Planning program as part of a broader Employee Development Plan that ensures we’re building a solid in-house staffing bench to support our ongoing leadership needs while providing our staff with a definable path for advancement.

How do you utilize tech to remain at the forefront of your industry?
Our commitment to technology takes many forms, including some we didn’t plan for. The events of the past 24 months impacted us in many ways, including CRFS going from a somewhat traditional brick-and-mortar operation to a completely remote staffing model. To accomplish this, we rolled out a combination of hardware and software solutions that permitted 100% of our staff to be up-and-running at full productivity in very short order. Over time, we’ve implemented additional technology platforms including Microsoft Teams and broader use of secure mobile devices to facilitate increased collaboration and interaction between our team members that have resulted in productivity improvements.

Under the leadership of a new Director of Information Technology, we’ve been making steady and significant investments in the underlying technology that supports mission critical functions, including upgrading our document management process/interface and enhancing the workflow and related automation functionality that support our claim preparation and upload process.

Why should industry professionals consider a career working with your company?
Most folks want to work for a company that they can believe in and that will be around for the long haul. When it comes to claims management and operational consulting, since its founding in 2002 CRFS has developed a system that works. CRFS has accurately filed tens of thousands of claims and recovered hundreds of millions of dollars for our clients. And CRFS is committed to building strong client relationships by consistently delivering quality results.

Company leadership has over 85 years of combined industry experience, and its cross-functional teams are uniquely structured to scale to any project size. CRFS makes sure that the most effective and relevant processes are put in place from the beginning to ensure that recoveries, savings, and ROI are maximized from day one. We sincerely hope that this stability coupled with our commitment to individual employee development make CRFS the type of company dedicated mortgage industry professionals will choose to work.

What other aspects of your company would you like to spotlight?
CRFS offers a highly collaborative and transparent client onboarding and relationship management process that facilitates the identification and implementation of operational efficiencies that enhance the process on both sides. And CRFS’ experienced workforce allows us to react quickly to changing market conditions. As an example, CRFS recently developed and rolled out solutions to assist clients with both FHA Emergency Loss Mitigation and FNMA Deferment Claims instituted as part of the COVID-19 pandemic. And we offer flexible, scalable solutions built upon our proprietary Claims and Loss Analysis platforms that are fully customizable to our client needs.

About Author: David Wharton

David Wharton, Editor-in-Chief at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has nearly 20 years' experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. He can be reached at [email protected].

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