Florida-based ""eMASON, Inc."":http://www.emason.biz/, developer of the Clarifire business process automation software for the financial services industry, has unveiled the ""Clarifire Community"":http://www.emason.biz/content/clarifire/clarifire_community.aspx.
[IMAGE] The Clarifire Community portal allows borrowers, servicers, investors, title agents, real estate agents, regulators, and other mortgage industry players to come together via a single platform to synchronize activities relating to mortgage loans, while ensuring new rules for interaction and communication with distressed homeowners are met.
The company says the new Clarifire feature enables the nation's largest servicers to drive compliance with U.S. Treasury regulations, while delivering a solution to borrowers - and all others involved in mortgage servicing - that provides real-time access to borrower delinquency management processes.
Recently the Treasury Department has required lenders and mortgage servicers to provide a single point of contact (SPOC) for borrowers who need help understanding the array of loss mitigation options available to them.
In addition, servicers are now required to maintain detailed records, with audit trails, of their interactions with borrowers.
eMASON says its Clarifire Community meets both directives with a single point of access in a secure private cloud environment.[COLUMN_BREAK]
eMASON notes that banks and servicers often have over a dozen customer points of entry. With Clarifire Community, this is consolidated into one solution, allowing borrowers to access their SPOC representative with just one click. A live chat feature, Clarifire Concierge, also expedites the flow of information.
The company's Clarifire solution serves to automate the myriad business processes that touch a mortgage loan in line with individual servicer specifications. At the same time, the system provides an action or contact trail that is auditable.
With this technology, the various workflows and user interactions involved in delinquency management now happen in one place, in a secure, intuitive platform, eMASON explained.
""Clarifire Community's simplicity is really exciting - there is nothing intimidating about it,"" said Jane Mason, founder and CEO of eMASON. ""The portal removes the cloud of confusion and the deep sense of frustration that defined the processes in the past.""
In addition to its auditable SPOC features, Clarifire Community generates documents, such as borrower workout agreements, and delivers them through a secure Internet connection.
Messages are delivered instantly to borrowers, telling them that their documents are ready either via email or text. The old game of ""phone tag"" is virtually eliminated, according to eMASON, with required documentation now at users' fingertips.
""Clarifire Community lets servicers deal accurately and efficiently with the volume of work they see today and are likely to continue to see in the future,"" Mason said.
""The technology also gives borrowers a voice by letting them be informed participants in the process, which is what our regulators want to see,"" Mason added. ""Technology is the heart of the solution.""