Clarifire Conversations

January 15, 2024

Break the Rules: Reimagine a Digital Customer Experience in 2024

As we embrace a brand new year with mortgage projections hinting at a promising year but not committing, it’s the perfect opportunity to reevaluate your stance on the digital experience for our customers, as well as ourselves. The last few years gave us a big push as we grappled with unprecedented market volatility. It also gave our customers a taste of meaningful self-serve applications and 24/7 real-time accessibility available through digitization. This access is achieved through modern workflow automation, electronically coordinating data and activities across your organizational processes. Your customers, from baby boomers to Gen Z, have already become accustomed to tapping information and decisioning that is available at their convenience, so don’t let them down.

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December 14, 2023

Break the Rules: Reimagine Mortgage for Customer Expansion

The mortgage industry and financial services, in general, have been flooded with rules. Dating back to the advent of the Dodd-Frank Act and fast forward to the Coronavirus Aid, Relief, and Economic Security (CARES) Act, managing operational processes within a framework of variable rules has become a fact of life…. But do we do it well? And, even if we do it well, we may be overlooking a real opportunity, the chance to use technology for end-to-end visibility of processes, customer preferences, and your organization’s product offerings. 

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December 15, 2022

Are Your Borrower Calls Compliant With the New TCPA Ruling?

When was the last time you reviewed your borrower communication practices? As technology options continue to expand, so follows oversight. The Telephone Consumer Protection Act (TCPA) of 1991, created to address increasing telemarketing practices and their impact on consumers, has grown and continues to evolve on the heels of innovation. Make sure you’re starting the new year with real-time engagement and compliant communication with borrowers.

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August 22, 2022

Should Servicers Be Worried About the CFPB's Key Observations?

The industry is migrating from forbearance to foreclosure, and mortgage servicers are seeing another change in the makeup of their default servicing portfolios. Forbearance volume is plateauing as the number of loans entering forbearance more closely parallels the volume of forbearance exits. At the same time servicers are becoming anxious as foreclosure activities, from filings to auctions, increase month over month. This type of continued volatility in delinquency activity, whether it’s a change to overall volume, delinquency reasons, relief options, or regulatory requirements, creates severe risk for servicers.

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June 17, 2022

Solutions to 5 Key Observations in the Latest CFPB Response Metrics Report

Not all servicers are alike, whether it’s size, portfolio composition, delinquency rates, or other criteria. Despite these disparities, the CFPB is determined to prioritize their oversight of mortgage servicers in an ongoing effort to identify and minimize risk for borrowers. Based on reported data and complaints, they’ve placed a strong emphasis on proper management of forbearance exits and the loss mitigation process. Their most recent response metrics report highlights the CFPB’s responsiveness through efforts to issue rulings, temporary safeguards, joint agency statements, and tightened enforcement. The endgame is to ensure industry servicers are appropriately responsive to homeowners, especially looking back on the pandemic and the ongoing recovery.

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October 08, 2021

Seize the Opportunity to Keep Your Customers Happy

As we all sit on the edge of our seats, wondering if our new normal is here or if a new variant will send us into another winter of hibernation, there is good news for mortgage servicers, as well as opportunity. This year’s J.D. Power U.S. Primary Mortgage Servicer Satisfaction Study shows that overall customer service satisfaction has actually improved under COVID-19. Do not be perplexed by this seemingly upside-down compliment. Servicers have remained solidly on the frontline, assisting borrowers as they have sought forbearance and other loss mitigation options to ward off pandemic delinquency or foreclosure.

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March 16, 2020

Do You Know What the New Decade Holds for Customer-Centric Servicing?

Clarifire recently released its white paper on the current approach to customer-centric servicing and the corresponding key drivers as we head into a new decade. With ongoing fluctuation in business requirements and constrained resources expected to continue, informed and consistent communication with servicing customers is at the core of any successful servicing model.  Albeit difficult to deliver on, as technology budgets and profitability margins remain constricted, mortgage servicers need to make a sizable effort to embrace their customer base.  Whether looking to leverage cross-product penetration, increase retention, or simply endure the latest disaster obstacles, customer-centric servicing should be the focus.

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March 13, 2019

Living in the Now at MBA Servicing Conference

Mortgage servicing is at a point of inflection, as this segment of the industry becomes more innovative and customer centric. The focus at this year’s Mortgage Bankers Association National Mortgage Servicing Conference and Expo highlighted this element, hitting the present and ‘the now’. The industry event in Orlando, Florida, appropriately themed “Servicing NOW!” explored the lessons of the past and the promise of tomorrow. 

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June 13, 2018

Hurricane Season is Here, Are You Ready?

Summer is here! For many, this indicates the start of family vacations, time at the beach or pool, and barbeques with friends. For those that live along the Atlantic and Gulf coast, summer also marks the beginning of hurricane season.


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August 01, 2017

Increase Customer Engagement Opportunities with Self-Service Technology

Through Google searches and an increasing presence of online accounts, today’s consumer has an abundance of information available at their fingertips. Having information readily available when customers want it, empowers them to be self-sufficient. With 71% of consumers wanting the ability to solve their own customer service issues, self-service technology enables the customer interaction that shapes their experience in a way that works for them.

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July 12, 2017

3 Reasons Your Business Needs an Effective Workflow

The term “workflow” isn’t new to the world of software. It’s used to describe how organizations are streamlining their business processes with automation to eliminate manual tasks and gaps. So what’s the big deal and why is implementing a workflow automation application so important?

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April 12, 2017

Mobilization in the Mortgage Industry

The Mortgage Bankers Association convened its 2017 National Technology in Mortgage Banking Conference & Expo in Chicago on March 26 – 29, 2017.  Participants discussed the evolving role of technology in the mortgage space. The timely conversation comes as the National Association of Realtors’ 2017 Home Buyer and Seller Generational Trends recently reported Millennials make up the largest share of homebuyers at 34%, with 92% of them turning to online resources to conduct their home searches.

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January 10, 2017

Top 5 Trends for Success in the Financial Services Market

Late last year, at the Mortgage Bankers Association Annual Conference and Expo, attendees were asked, “What is most important in moving our industry forward?”  There were five clear trending topics from the answers received, with each item having its unique impact on the industry and your organization.

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May 17, 2016

Technology Becoming Necessary for Mortgage Customer Satisfaction

Customer Satisfaction is the main ingredient in achieving customer loyalty, credibility, repeat business and securing the competitive edge.  When you think of customer satisfaction, soft skills and human involvement typically come to mind; however, recent industry surveys illustrate that technology is playing a big part in success stories.  Mortgage lenders that have spent sizable time and energy working on improving technology and operational efficiency are now achieving better-quality customer satisfaction scores. 

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April 26, 2016

Customer Engagement a Main Focus at MBA Tech

Customer engagement is a dictum in the mortgage industry. We are all accustomed to the increased focus on the customer from a regulatory perspective, largely thanks to the creation of the Consumer Financial Protection Bureau (CFPB). Engaging the customer throughout the mortgage lifecycle is quickly becoming an essential factor of success.  From pre-qualification through loss mitigation, understanding how to engage the changing face of the mortgage customer is on everyone’s mind. 

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