crfs goes live at mba spring conference & expo

CRFS is live and ready for action as a proud Exhibitor at this year’s MBA Spring Conference and Expo that opened today.  We’re looking forward to sharing with our clients and partners all the exciting news on the innovative products and services we’ll be rolling out over the course of 2021.  A few of these new services include:

  • Default Portfolio Review Toolkit
  • CRFS Flex Staffing
  • Post-claim Quality Control Consulting
  • HUD Audit Readiness Consulting
  • Enhanced Loss Analysis Toolkit

If you’re attending the show, we look forward to engaging with you at our virtual booth.  If you’re not planning on attending, you can still check out the event page on our website that guests to our booth will be invited to visit.  Please have a look here…

After you’ve taken a look don’t hesitate to reach out directly to learn why our expanded capabilities and unmatched expertise make CRFS a valued partner, now more than ever.

If you’re attending, have a great show and please take a moment to visit our virtual booth and say hello…





crfs to exhibit at MBA spring conference and expo

The CRFS team is pleased to announce that we will be an exhibitor at the upcoming MBA Spring Conference and Expo to be held virtually from April 20-22.  Offered via MBA LIVE, an interactive virtual conference experience, you will hear from an unparalleled lineup of speakers on the Main Stage, dive deep into your specialty area and explore others, chat live with peers across the entire residential real estate finance industry and meet with exhibitors in the virtual HUB.

At the CRFS booth you’ll be able to learn about the innovative products and services we’ll be rolling out over the course of 2021.  A few of these new services include:

  • Post-moratorium, Pre-Claim Loan Portfolio Consulting
  • Enhanced Loss Analysis Toolkit
  • CRFS Flex Staffing
  • Post-claim Quality Control Consulting
  • HUD Audit Readiness Consulting

You’ll also be able to conduct live chats and schedule one-on-one meetings with CRFS staff and download custom collateral that provides detailed information on all our industry-leading products and services.

To learn more about the show and to register to attend, please  click here  .  We look forward to virtually “seeing you” in a few weeks!

crfs creates office of innovation, hires director

CRFS announced today that it has hired industry veteran Ryan Lasal to take on the newly established role of Director of Innovation.  In that role, Lasal will be responsible for developing, facilitating and implementing new ideas and innovative strategies within CRFS’ business model that will position the company for success in the rapidly changing mortgage servicing default and foreclosure industry segment.  Says CRFS president Steve Mowers, “CRFS has to build on its nearly twenty years of proven success by successfully adapting to and managing for the changes we’re seeing in the business both now and down the road.  And bringing an experienced industry professional like Ryan on board will allow us to do that.”

Lasal has over 10 years of experience in the mortgage servicing industry, including 7 years previously with CRFS where he most recently held the roles of Process Improvement Manager, and Client Relations Manager. Ryan is a 2019 graduate of Roberts Wesleyan College with a Master’s of Strategic Leadership.  A believer that companies should always look to work smarter not harder, Ryan hopes to use this new role to help CRFS and its clients to do just that. As Ryan notes, “Utilizing its 19 years of industry-leading experience and knowledge, CRFS will look to become innovative and agile to continue to add value to our clients and fulfill their needs, both in the claims space and beyond.”

For more information on the new CRFS Office of Innovation, please contact Ryan at


Biden administration announces extended forbearance and foreclosure moratoria

On February 16th the Biden administration announced an extension of the COVID-19 forbearance and foreclosure protections for homeowners.  Read full details here…

Notwithstanding this extension, the mortgage industry and the country continue to creep closer to a return to normalcy.  Now is the time to prepare your default and foreclosure shop for the coming uptick in claim volumes across all claim types.  Our experienced staff is well versed in all the government, GSE, and MI programs including Loss Mitigation, CWCOT, and conveyance.  Contact the experts at CRFS to learn how we can assist in prepping and QC-ing loan files for submission, supporting your team with increasing volumes, and delivering comprehensive Loss Analysis reporting.  E-mail us at or call us at 585.589.8946.

crfs 1st quarter 2021 real world case study – COVID-19 fnma deferment claim project

CRFS Real World Case Study 2021-01

COVID-19 FNMA Deferment Claim Project


  • Client:           Large non-bank mortgage servicer


  • Challenge:   In May, 2020 Fannie Mae under the direction of the Federal Housing Finance Agency (FHFA) in partnership with Freddie Mac issued a new Lender Letter (LL-2020-07) that provided servicers with additional retention workout options for borrowers who were impacted by a hardship related to COVID-19. The goal of the program was to allow borrowers to return their mortgage to a current status after up to 12 months of missed payments. Our client was concerned it did not have enough fully trained staff to manage the large influx of claims that would need to be filed over several months as eligible borrowers entered the program. The project encompassed more than 1,000 monthly Fannie Mae COVID-19 claim submissions.


  • Solution:       Within four weeks of commencing the project, CRFS was able to allocate staff for and deliver required training to the team tasked with managing the program. By the time the first referral file was delivered, CRFS had built-out its workforce such that it could handle up to 1,000 FNMA Deferment claims, more than tripling its claims processing capacity. At present, CRFS has further expanded its processing and QC operations to handle more than 1,500 monthly claims.


  • Value Add:   CRFS was able to quickly allocate resources experienced with conventional claims to accommodate the client’s increasing claim volumes under a newly implemented GSE workout program, delivering an effective solution while also managing operational risk. Additionally, the staffing and operational solution put in place by CRFS controlled costs while maximizing the financial opportunity for our client.

crfs named employer of the year for 2020 by orleans county chamber of commerce

Claims Recovery Financial Services, LLC (CRFS), the mortgage industry’s premier provider of claim filing and recovery services, was awarded the Orleans County (NY) Chamber of Commerce “Employer of the Year” for 2020 at a ceremony held today.

CRFS, which started out with one employee processing a few claims for one client, today employs almost 200 dedicated professionals and handles thousands of claims each month for over two dozen clients.

“The way that CRFS handled things this year…” was cited by the Orleans Chamber as a key factor in presenting the company with this honor. There are several things CRFS did during 2020 to not only preserve jobs and support clients in the face of the challenges and uncertainty brought on by the COVID-19 pandemic, but also invest in the company’s future growth. These include:

  • Conversion to 100% remote workplace with deployment of workstations at the employee level and establishment of sophisticated IT infrastructure to support a remote desktop environment
  • Development and rollout of new compensation plans and enhanced production reporting to more effectively measure and incent remote staff
  • Strategic use of Federal PPP funds to help maintain employment levels during the initial Pandemic shutdown phase
  • Implementation of a flex staffing model supported by NY State’s innovative WorkShare program that greatly reduced the need for a major corporate restructuring and helped preserve the level of active employees
  • Renegotiation of leases at multiple office facilities to address the transformative requirements of the remote staffing model, featuring significant reductions in traditional office space and workstations and expansion of collaboration areas and employee engagement best practices
  • Investment in IT Platforms and related hardware to enable remote based collaboration and communication including Office 365 and Microsoft Teams, Zoom, and GoTo Meeting
  • Development of a national recruitment footprint and sophisticated recruiting and candidate evaluation models to support hiring of experienced remote staff
  • Development and rollout of new product solutions, technology infrastructure, and workflow platforms including RPA that allow CRFS to better address the challenges and opportunities facing mortgage servicers during 2020 and beyond

Widely recognized as the industry leader in claims recovery, CRFS recovers, on average, an additional $2,500 per file for their clients. Clients turn to CRFS for expertise and outsourcing solutions in FHA, VA, FNMA, FHLMC, and USDA claims recovery, HUD Audit support, Loss Analysis review, consulting, and much more.

crfs 4th quarter real world case study – fha loss mitigation emergency claim




  • Client:           Large bank mortgage servicer


  • Challenge:   In April, 2020 HUD issued Mortgagee Letter ML 2020-06 that provided servicers with additional Loss Mitigation options for borrowers who had entered into forbearance as a result of financial distress caused by the Covid-19 pandemic. The client was concerned it did not have enough staff to manage the large influx of claims that would need to be filed over several months as borrowers exited their forbearance window. The project encompassed literally thousands of monthly FHA Loss Mitigation claim submissions under the COVID-19 National Emergency Standalone Partial Claim program.


  • Solution:       Over a period of five weeks CRFS invested in technology upgrades including integration with the FHA Catalyst system and built-out its workforce to greatly expand its Loss Mitigation processing capacity. By the end of those five weeks CRFS had more than quadrupled its Loss Mitigation claims processing capacity, and partnered with the client to supplement their capacity by up to 4,000 monthly claim submissions. In total, CRFS expanded its processing and QC operations to handle more than 10,000 monthly Emergency Loss Mitigation claims.


  • Value Add:   CRFS was able to quickly deploy experienced resources to accommodate the client’s surging claims volumes under a highly scrutinized government program, providing them with greatly reduced operational risk. Additionally, integration developed with HUD’s Catalyst system allowed for a more streamlined process that kept costs down while maximizing the financial reimbursement for our client.


CRFS hires audrey cady as accounting manager

CRFS is pleased to announce today that Audrey Cady has joined Claims Recovery Financial Services as their Accounting Manager.  In that role Audrey will be responsible for all the accounting and financial reporting activities of the company.  Audrey holds a Bachelor’s degree in Accounting from SUNY Geneseo, and has spent the past several years working in the New York City area where she held senior positions in the media and publishing, retail, and real estate industries.

 “Adding an experienced leader to our accounting team was a priority for us as we begin to wind down 2020 and plan for the growth we expect in 2021, so we’re delighted to be able to add a seasoned professional with the credentials and energy Audrey brings” said CRFS president Steve Mowers.



new from crfs – real world case study published every quarter



  • Client:          Large non-bank mortgage servicer
  • Challenge:   The client was not confident it had available internal analytical resources to deliver a time sensitive project involving claim recovery refunds that needed to be identified, calculated and submitted to the FHA in advance of a pending HUD Claims Audit. The project encompassed 1,570 loans potentially requiring refunds on behalf of the investor totaling almost $2 million.
  • Solution:      CRFS proposed deploying an experienced consultant to review each claim, determine the applicable refund, calculate any interest amount tied to the refund, and then process the refund – all within two weeks.
  • Value Add:   CRFS completed the project 7 business days after the client sent the final inventory of loans. CRFS submitted an average of 224 refunds per day worth approximately $1,157 per refund over that 7-day period. As a result of the project, the client was able to mitigate risk exposure to the investor of $1.8 million at a cost equal to a tiny fraction of the exposure.

crfs shares updates on government and GSE foreclosure moratorium programs

The FHA, USDA, VA and FHFA have all recently announced plans to officially extend their foreclosure moratorium programs through December 31st, 2020.  These actions will benefit millions of at-risk homeowners with mortgages insured or backed by these institutions.  Below are links to their respective websites and communications where you can get full details…


ML 2020-27


Circular 26-20-30


Bulletin 8/28/2020


LL 2020-02

Bulletin 2020-34