crfs 2nd quarter 2022 real world case study – fnma rpl claim project



  • Client:              Large non-bank mortgage servicer
  • Challenge:      On a recurring basis FNMA, under the direction of the Federal Housing Finance Agency (FHFA), will execute Re Performing Loan (RPL) sales with approved FNMA servicers to reduce the number of delinquent loans held in its inventory. The sales not only positively impact FNMA’s balance sheet but equally importantly help drive more favorable outcomes for borrowers and local communities. Starting in Q4 2021 our client engaged CRFS to manage approximately 40,000 claims that would need to be filed as a result of its participation in multiple RPL sales during 2021.
  • Solution:          Leveraging its national recruiting footprint CRFS added experienced production and Quality Control staff to the team overseeing the FNMA RPL Claims workflow and delivered customized training to equip the new hires with the skills and knowledge to do the work. This expanded workforce coupled with meaningful technology enhancements to its Claims Management System (CMS) increased CRFS’ claims submission output threefold to ensure it would meet the agreed upon project deadlines.
  • Value Add:        CRFS was able to quickly deploy a high performing team to meet the ongoing claims management needs of its client in support of completed and future RPL sales. Additionally, the staffing and operational solution put in place by CRFS controlled costs while maximizing the financial opportunity for the client. The per unit cost to the client is a fraction of the average recovery per claim, ensuring the engagement continues to deliver a positive ROI.

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