DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/1075359
» VISIT US ONLINE @ DSNEWS.COM 51 Best in Servicing Tools Guide SPECIAL ADVERTORIAL SECTION CRFS CORPORATE DETAILS: 231 East Ave., Albion, NY 14411 | 585.590.5422 | jeffrey.clark@crfservices.com | www.crfservices.com COMPANY DESCRIPTION Over the course of its 16-year history, CRFS has become the recognized leader in pre- and post-default claims management outsourcing and consulting solutions. Dedicated to providing unmatched timeliness, exceptional customer service, and measurable results, CRFS delivers industry leading default services and claims processing solutions. Services include pre- and post-foreclosure FHA, VA, Conventional (FNMA/ FHLMC), mortgage insurance (MI), pool insurance, and USDA claims management, loss analysis review and processing, and consulting for lenders and investors. The company proudly serves the nation's leading mortgage service providers, investors, and other financial institutions. REGULATORY COMPLIANCE CRFS' solutions increase recoveries and operational productivity, and its streamlined and highly automated filing process is of the highest quality, ensuring compliance across all relevant industry guidelines. It has a standalone team dedicated to compliance, and their sole focus is ensuring awareness of and adherence to all regulatory policies, updates, and changes. The company's commitment to compliance is supported by its active participation in MBA, IMN, Legal League and other industry conferences, where its employees routinely serve as industry expert panelists at many of the sessions. The company's Founder and Co-Chair, Jodi Gaines, is the current Chairperson of the MBA FHA Claims Working Group. BUSINESS LINES, SERVICES, AND PRODUCTS Claims Management Outsourcing » All FHA Claims » Conventional (FNMA, FHLMC, and Private Investor) » USDA » MI » Pool Insurance » VA Foreclosure » Title Package Monitoring (FHA and VA) Claim Loss Analysis Review » Full analytical review of claim payments » Itemize loss amounts, reasons, and responsible parties » Provide feedback to help reduce losses and identify process improvements Consulting » Quality Assurance » Operational Reviews » Investor Portfolio Acquisition Due Diligence » Mock HUD Audit » HUD Audit Project Support » Compliance Consulting » Data Analytics KEY FEATURES/BENEFITS Put simply, over the course of its 16-year history CRFS has developed a system that works. It accurately files tens of thousands of claims and recovers hundreds of millions of dollars for its clients. CRFS is committed to building strong client relationships by consistently delivering quality results. The company's leadership has over 75 years of combined industry experience and its cross-functional teams are uniquely structured to scale to the client's project size. CRFS makes sure that the most effective and relevant processes are put in place from the beginning to ensure that recoveries, savings, and ROI are maximized from day one. COMPETITIVE ADVANTAGE CRFS has a demonstrated history of successfully onboarding claims processing previously performed by other parties. A key competitive differentiator created through CRFS' years of experience in the default and claims processing space is the evaluation of allowable timeline extensions. Timeline extensions are valid reasons for which HUD reimburses additional interest and preservation expenses. Given that the average monthly cost of curtailed interest and preservation expenses is $800 per loan, any extension significantly improves the client's recovery. The extra recovery generated by partnering with CRFS more than covers the cost of the company's service. ADDED VALUE CRFS offers a highly collaborative and transparent onboarding and relationship management process to facilitate the identification and implementation of operational efficiencies that enhance the process on both sides. As an example, CRFS recently developed and rolled-out a solution to assist clients with obtaining HUD-required documentation to support reimbursement of property taxes, resulting in improved turnaround timeframes on the claims process. KEYS TO SUCCESS CRFS offers a flexible, scalable solution built upon its proprietary claims platform that is fully customizable based on client needs. Key competitive differentiators include: » Ninety-nine percent of all documentation is received, reviewed, and securely stored electronically, ensuring speed and scalability regardless of volume » CRFS offers a secure portal interface for client access that exceeds industry standards » It maintains a HUD authorized EDI solution » The company develops fully customized reporting options KEY PERSONNEL Jodi Gaines Founder and Vice Chair Steve Mowers President Sean Snook SVP and Chief Compliance Officer Jacqualyn Gardner VP, Client Relations Jeffrey Clark VP, Sales and Marketing NUMBER OF EMPLOYEES 235 GEOGRAPHICAL SCOPE AND COVERAGE AREA National COMPANY HISTORY Founded in 2002 and headquartered in Albion, New York, CRFS is the nation's leading provider of customized claim management and default services solutions, processing thousands of claim filings monthly across more than 30 active client relationships.