As government pressure mounts to stanch the flow of foreclosures, mortgage giant Fannie Mae certified a top technology provider’s software for loan modification workout rules.
eMason Inc., based in Clearwater, Florida, announced Friday that its Clarifire system was given the government-sponsored enterprise’s
seal of approval for use in loan modifications. Its financial calculator and loss-mitigation rules engine had previously been OK’d by Fannie for use in its HomeSaver Advance and pre-foreclosure sales programs. The program, a Web-based automation system, provides clients and borrowers with real-time access to their business process, workout rules and results. It can import loans in bulk and automatically generate workout results, with the intention of streamlining and speeding workouts. More than 20,000 users currently use Clarifire, including 110 law firms and 24 mega-servicers in the Fannie Mae loss-mitigation network, the company said.
DS News reported last February that eMason was adapting upgrades to Clarifire to make it more attractive to Fannie. “eMASON is the single solution, single-point of resolution, said Jane Mason, the firm’s
CEO. “We’re extremely proud of our progress and ability to consistently understand client needs and quickly implement cutting-edge business solutions that reduce risk and cost of change.”
Author: Adam Weinstein
• Date: 08/14/2009