GOVERNMENT CLAIMS MANAGEMENT
CRFS is the industry leader in FHA, VA, and USDA claims processing outsourcing and consulting. Founded in 2002 with a focus on timely claim filing, maximizing recovery, and reducing losses, the company has grown from a team of one in 2002 to roughly 200 employees. Over the past 15 years we’ve developed a proven process, filing thousands of claims each month and recovering hundreds of millions of dollars per year for our clients. We’re committed to building strong client relationships by delivering quality workmanship and fast, efficient service.
Servicers and Investors engaged with CRFS are already experiencing the following benefits:
Greater Financial Recoveries
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.
CRFS has been able to quantify the impact our expert knowledge has in identifying, justifying and documenting these extensions:
|Claims with Extensions||30-35%||20-25%||10-15%|
|Avg. Length of Extensions||8 months||6 months||2 months|
Given that the average monthly cost of curtailed interest and preservation expenses is $800 per loan, any extension significantly improves your recovery. The extra recovery generated by partnering with CRFS more than covers the cost of our service.
Reduced Audit Risk
CRFS provides a standard level of HUD Audit support to every client, and we’re proud to report that our clients experience minimal HUD Audit findings when we’re engaged on an Audit project.
COVID-19 Loss Mitigation Options
Are you ready?
The federal government has provided a mortgage payment forbearance options for all borrowers who, either directly or indirectly, suffer a financial hardship due to the novel coronavirus (COVID-19) national emergency.
As the industry leader in FHA, VA and USDA claims processing outsourcing and consulting, CRFS is uniquely positioned to help manage your COVID-19 loss mitigation challenges.
Customized Claims Solutions and Enhanced Services
CRFS offers a highly collaborative and transparent onboarding and relationship management process with our clients. This attention to detail on the front end facilitates the identification and implementation of ongoing operational efficiencies that enhance outcomes on both sides.
- As an example, CRFS recently developed and rolled-out a solution to assist clients with their COVID-19 FHA Emergency Loss Mitigation claims. In total, CRFS expanded its processing and QC operations including integration with HUD’s Catalyst system to handle more than 10,000 monthly Emergency Loss Mitigation claims, representing a 10-fold increase in capacity. This puts CRFS in a unique position to support its clients as these claim types surge in 2021.
CRFS offers a flexible, scalable solution built upon our proprietary claims platform that is fully customizable based on client needs.
- 99% of all documentation is received and reviewed electronically, ensuring speed and scalability regardless of volume
- Claim packages and documentation are securely stored electronically
- We offer a secure portal interface for client access that exceeds industry standards
- We maintain a HUD authorized EDI solution
- We develop fully customized reporting options