Clarifire Conversations

March 11, 2024

Mortgage Executives Share Their Biggest Challenges and Solutions

Mortgage servicers gathered in Orlando for the annual MBA Servicing Solutions Conference & Expo to explore insights on what to expect in 2024. A compelling session, “Executives Discuss Their Challenges, Goals”, revealed a consistent need and desire to focus on reimagining servicing. Whether servicers are struggling under the pressures of customer call volume, Basel III and capital requirements, Mortgage Servicing Rights and warehouse line risk, or the cost to embrace current technology, the answer from executives was the same… take a pause from the disruption and redirect your efforts toward analytical tools, workflow automation as a no-code solution, as well as seriously looking at your processes with a fresh perspective. Think about working differently with your process complexities automated and organizational silos eliminated. Let technology do the heavy lifting while your teams focus on critical customer interactions.

Attendees watching presentation at conference


Are You Listening to Pain Points

At the center of this call to reimagine servicing lies the delivery of meaningful customer communication and digital self-serve options that more thoroughly and rapidly address customer needs. Listen to your customer’s needs and tone when they dial into your call center. Listen to feedback received from both your customers and staff. These areas will tell you the prevailing pain points and where friction exists within your organization. Many calls are from customers who were hoping to answer their questions through self-serve options but couldn’t. It’s important to keep tweaking these digital and human interactions. Let the technology help your teams better communicate with your customers with more robust self-serve capabilities.

CLARIFIRE® has been designing and delivering 24-7, real-time self-capabilities for years. Servicers can address call center pain points quickly and effectively with all of the relevant data and automation at their fingertips. CLARIFIRE® centralizes customer communications coupled with workflow to streamline your operations and complexities.


The Cost Benefit of Analytical Tools

It’s time to leverage analytical tools to examine where your problems and major costs reside within your organization. Push beyond assuming you know where your organizational issues exist to knowing the solutions. Dig deep into processes and the corresponding guidelines to avoid writing requirements that are not aligned with your current business needs. Find a simple-to-use, easy-to-change software application that facilitates automated self-serve and task elimination, thereby improving overall productivity. This should include analyzing your value proposition, as well as measuring the goals and successes of individuals and areas. Perpetuate a no-code collaborative workflow solution to help everyone drive success.

CLARIFIRE® provides best-in-class features that are derived through proven workflow automation and intelligent decisioning. Accessibility, transparency, and visibility organization-wide are part of the imperative. CLARIFIRE® gives you controls and governance through the use of business rules that create the foundation for compliance with regulations.


The Servicing Impact of Basel III

In the realm of regulatory advocacy, the MBA is keeping a keen eye on proposed requirements under Basel III, which threaten to hinder market liquidity and healthy competition. Additionally, recommended changes would have an impact on the capital requirements, in turn adding stress on MSR values and perpetuating warehouse line risk. Although looming Basel III requirements are troubling, especially for bank servicers and warehouse lenders, executives emphasized the need to focus on more organic areas for improvement, such as shoring up systems for efficiency and improving the customer experience. This approach can assist in reducing the very risks associated with proposed Basel III requirements.

CLARIFIRE® stands ready to help servicers address ongoing regulatory burden, whether associated with Basel III or any other federal, state and/or investor requirements.


It Comes Down To Systems

The crux of this reimagining perspective comes down to overhauling your systems and processes. Mortgage servicing is undeniably complex, with a myriad of federal and state regulations adding to the intricacy. The executive panel overwhelmingly supported a shift from reactive to proactive strategies, focusing on redesigning processes with technology as the catalyst. The goal is to simplify operations, drive efficiency, and enhance the overall customer experience. Start by breaking down every single process. Next, embrace analytical tools, AI, and no-code solutions. No matter what, take self-serve capabilities to the next phase to drive greater customer engagement and achieve more extensive cost savings through gained efficiency.

CLARIFIRE® is an industry leader in delivering proven workflow automation that is designed to elevate your existing systems using low code, with the latest most powerful technology features in the market. Mature SaaS delivery automation keeps change as part of the strategy, not the angst.


Executives Speak

As one servicing executive articulated, mortgage servicers have arrived at a “junction”. The industry has made great strides in assisting distressed customers, but now is the time to reevaluate and innovate. By breaking down silos, embracing technology, and automating complexities, mortgage servicing executives can prepare to usher in a new era of customer-centricity and digital operational excellence.

Don’t overlook this opportunity to shore up your operational processes and push your servicing entity to the next level of innovation. Let CLARIFIRE® help you refresh your approach to servicing and show you how simple this crossroad can be with proven technology that is flexible, transparent, and ready to automate your processes to support powerful software capabilities today. Reimagine your approach to servicing with CLARIFIRE®. Visit us at or connect with us directly at 866.222.3370. CLARIFIRE® is truly BRIGHTER AUTOMATION®.

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Jane Mason | @janemasonceo

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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