eMASON’s Clarifire application has been implemented by Fannie Mae as the technology solution for its servicers' use in complying with the foreclosure pre-filing mediation process mandated by the Florida Supreme Court's administrative order.
The web-based application provides workflow for its loan servicers and business partners involved in the mediation process – including retained attorney firms, mediation case managers, and counselors - all on one platform.
Clarifire automation will help servicers improve the prospect and cycle times associated with assisting borrowers by offering mediation and related workout options early in the loan's delinquency as required by the state. The Florida Supreme Court mandates that servicers offer mediation to homestead residential borrowers before a summary judgment can be filed and a foreclosure sale held.
The technology will also expedite the process for Fannie Mae loans where mediation is either not accepted by the borrower or does not result in an agreement or a workout as outlined by the initiative. Florida is the first state to receive Clarifire automation for processes related to pre-filing mediation.
Currently, more than 25,000 users rely on the Clarifire application to automate their workflow. Clearwater, Fla.-based eMASON's Clarifire bridges gaps between built technologies.
