Clarifire CEO mulls partnership to scale process automation software – Mortgage Professional

Written by Amanda

SaaS, forbearances and COVID-19

The company’s technology is cloud-based and uses a SaaS delivery model. Clarifire also relies on its own business rules engine that it developed, and the software includes special features for the mortgage servicing industry.

Early on, Clarifire worked with larger entities such as Fannie Mae, helping it to automate communications and workflow among all parties in the industry. Truist Financial is the company’s biggest customer so far, Mason said.

Over time, Mason said, the company has applied its process automation software in multiple ways. In the early stages of the coronavirus pandemic shutdown, the customer base for Clarifire’s clients fielded hundreds of thousands of requests for forbearance. Clarifire was able to apply its process automation software to help streamline what clients were dealing with.

“Their customers – their borrowers – were in a panic,” Mason said. “We automated the intake of requests for forbearance relief … We looked at how to group in aggregate like processes, and how to provide relief.”

That included providing clients with integrations to their call systems, and a website for each customer allowing their borrowers to connect with the Clarifire community. They could click a button to get automated approvals with documents generated in under three minutes, Mason explained.

Source: mpamag.com

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