How to Use Automation to Drive More Business to Your Organization
The industry continues to hunger for technology to improve workflow, as well as streamline and automate operational efficiencies. While these...
3 min read
Jane Mason : Nov 8, 2021
Servicing institutions are well aware of the need to stay out in front of agency scrutiny, examinations, and of course consent orders. But what happens as your focus is eroded under the pressures of record-level volume and a roller coaster of regulation? There has been a legitimate lack of time and resources for mortgage servicers, as well as latency in technology, and not to be overlooked…. the pandemic impact. Where does this leave your organization as you plan for 2022? As the industry prepares to close out another year filled with unimaginable obstacles and hurdles, there is a real opportunity to reinvent your approach to business by leveraging successes and tapping into automation that effectively propels your organization into the future.
Regulating agencies issue consent orders, enforcement actions, and fines throughout the year. Our industry had a bit of a reprieve during the pandemic, but regulatory entities are back in full force and the best course of prevention is preparedness. A path that is not near as daunting as it may seem when you rethink your response to examination and enforcement, which can be as simple as embracing a few simple means of structure:
As your organization builds on industry and internal lessons learned to ensure organizational readiness, modern workflow automation effectively minimizes risk by bridging the gaps and interconnecting all processes, thereby creating seamless servicing. Take a quick look at how regulatory concerns highlighted above could be easily avoided and associated risk mitigated:
Today’s mortgage servicers have the chance to push beyond the chaos of the pandemic and avoid the pitfalls that occur during periods of record-breaking volumes. Simultaneously adhere to regulatory inference to focus on your system of internal controls, default operations, and information technology with a proven workflow automation partner, Clarifire. Delivering extensible and flexible automation that is uniquely designed to digitize your servicing operation, CLARIFIRE® integrates your data and logic into an innovative technology application that incorporates the current myriad of industry rules and regulations. This data is used in conjunction with sophisticated decisioning automation that leverages workout rules, eligibility determination, workflow exception processing, and so much more. This technology drives business processes using interactive workflows that support 24/7 self-service access, no-touch straight-through processing, and a modern mobile design.
The capabilities and possibilities that your organization can achieve with CLARIFIRE® epitomizes modern automation and is the premier industry solution – More importantly, this is automation that mitigates risk in today’s environment. If you’re ready to ensure operational controls in the face of increasing enforcement and risk liability, then reach out to us directly at 866.222.3370 or visit us at eClarifire.com.
Let us show you how to future-proof your organization with CLARIFIRE®.
Jane has applied her vast experience (over 25 years) operating process-driven businesses to successfully redefine client-focused service. Jane has worked with expert programmers to apply cutting-edge web-based technology to automate complex processes in industries such as Financial Services, Healthcare and enterprise workflow. Her vision confirms Clarifire's trajectory as a successful, scaling, Software-as-a-Service (SaaS) provider. A University of South Florida graduate, Jane has received many awards related to her entrepreneurial skills.
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