eMASON Inc. has performed product upgrades to its Clarifire application, a Web-based process automation technology solution. The technology is used by financial services companies such as Fannie Mae and Bank of America to manage their mortgage servicing processes.
Clarifire now features certified Fannie Mae loss mitigation business rules within the application for HomeSaver Advance and Preforeclosure Sale workout types, as well as a direct connection to Fannie Mae's system of record, Home Saver Solutions Network (HSSN). Loan modification workout types are set to go live in early March.
According to eMASON, the direct connection to the organization's HSSN system allows servicers to reduce or eliminate manual efforts required to submit workout data to the organization for approval. Previously, all servicers were required to manually key the workout information into HSSN.
‘The new upgrades to Clarifire bring cutting-edge automation and technology to our clients, providing the flexibility to update rules on-the-fly and respond rapidly to the changing needs of business – reducing risk and cost of change,’ says Jane Mason, CEO of eMASON.