crfs highlighted in ds news april edition

CRFS was highlighted in the Top 5 segment of the April edition of DS News.  CRFS is grateful to DS News for showcasing our industry leadership, innovative culture, and commitment to our clients and employees.  Setting the standard for 20 years, CRFS is the valued partner mortgage servicers can rely on to support their default and foreclosure teams.

Check it out here on page 22…

crfs president steve mowers interviews with ds news

Steven Mowers, CRFS President, recently spoke to DS News about CRFS’ recent challenges and successes.  Read the full interview below or visit the DS News article at the following link:

CRFS – Optimizing Workforce Configuration to Meet Client Needs

Steven Mowers, President, Claims Recovery Financial Services 

What were the most difficult headwinds you faced over the past year, and how did you work to overcome them?
Mowers: Two of the more significant challenges were default and foreclosure claim volume constraints caused by the mortgage forbearance and foreclosure rules, and the 100% remote staffing requirements. To address the remote staffing challenge, we quickly scaled-up and launched a technology-driven operational model that allowed individual users to quickly resume their day-to-day activities from their home offices. We also partnered with our Managed Services provider to significantly increase our server bandwidth to support the unique requirements of a geographically diverse workforce while ensuring system reliability and security were not sacrificed. 

To counter the reduction in our normal claim volumes, we developed and rolled out new products that in many cases were a direct result of the forbearance and foreclosure rules. One example is the FHA Emergency Loss Mitigation claim. Over a period of five weeks, CRFS invested in technology upgrades, including integration with the FHA Catalyst system, and built out our workforce to greatly expand our loss mitigation processing capacity. In total, we expanded our processing and QC operations to handle more than 10,000 monthly Emergency Loss Mitigation claims, representing a tenfold increase in capacity. During 2021, we launched an equivalent product in support of FNMA Deferment claims, and by the end of the year, we’d successfully filed almost 15,000 of these claims for our clients. 

What are your top priorities as a company for 2022? How are you mobilizing to achieve them?
Mowers: One of our top priorities is continuing to operate an inclusive company where talented, motivated professionals choose to work. Building on existing initiatives like our Talent Planning program and the analytics-based Compensation Model will ensure that we continue to offer meaningful advancement opportunities for our teammates. 

Another strategic imperative is ensuring that CRFS continues to meet the emerging needs of our clients and partners as the mortgage industry evolves. To that end, CRFS recently hired a new Director of Information Technology to partner with the Director of Innovation we added in 2020 to help steer the company through the process of continuous improvement. Working closely with the technology, operations, and product management teams, these individuals will help ensure that CRFS continues to deliver best-in-class products and services.   

Things to keep an eye out for in the coming weeks and months include the web-based CRFS Client Console, which will greatly enhance the way our clients digitally interact with us and an improved version of our Accelerated Asset Disposition tool that helps our clients determine the best path for disposition and resolution of their default inventory to avoid unnecessary losses, maximize recoveries, and reduce holding costs. 

How do you manage changes in workload volume and staffing bandwidth?
Mowers: CRFS has and will continue to actively manage its workforce configuration to meet the changing needs of our clients. Utilizing internal tools like flex staffing and cross-training ensures that we have the right number of people supporting the right projects, based directly upon feedback and direction provided by our client partners. Similarly, building on the successful adoption of the remote work environment, our staff has collectively grown increasingly comfortable managing change and have truly become an agile workforce. Additionally, leveraging innovative external programs like New York State Workshare and the federal Employee Retention Credit program allowed us to take advantage of government programs designed to sustain companies during the most challenging periods of the COVID-19 pandemic. Lastly, maintaining a commitment to continuous improvement, technological innovation, and product development will ensure that CRFS offers the value-add products and services that the industry demands and that our employees are uniquely qualified to deliver. 

How do you nurture a commitment to diversity and inclusion within the company?
Mowers: As a company co-founded in 2002 by a talented and motivated woman, CRFS recognizes the critical role DE&I plays in any organization. Our Talent Planning program fosters an aspirational, results-oriented environment focused on aligning the needs of the company with the skills and career goals of our teammates. Furthermore, our remote staffing model allows us to draw talent from many areas around the country, including cities large and small.  

We also encourage our employees to be active members of the communities in which they live and work, and we fully support and facilitate participation in local volunteer opportunities, including the United Way Day of Caring. Lastly, in 2022, we rolled-out a formal Diversity, Equity and Inclusion Program that features training for our staff and provides key benchmarking data the company can use to help deliver on the program’s objectives.

crfs 1st quarter 2022 real world case study – FANNIE MAE PAID IN FULL CLAIMS




  • Client:              Large non-bank mortgage servicer


  • Challenge:       In late 2021 the client approached CRFS with a significant backlog of Fannie Mae Paid In Full (PIF) claims, which was not a claim type that CRFS had previously filed for the client. Client leadership was not confident it had adequate available internal resources to deliver on what had become a time sensitive claim filing project due to Fannie Mae’s deadline requirements.


  • Solution:          Within two weeks of commencing the project CRFS was able to allocate staff, deliver required training, and begin submitting claims. To gain efficiencies, CRFS partnered with the client’s IT Team to develop an expense advance detail export using a streamlined template that allowed for quicker analysis and turnaround of the bulk upload to Property 360. Additionally, CRFS’ dynamic claim intake and queuing process allowed the client to accommodate shifting Fannie Mae deadlines, as priority was placed on loans with higher advance amounts. At present, CRFS has further expanded its processing and QC operations to handle more than 800 Paid In Full claims a month.


  • Value Add:        CRFS was able to quickly allocate experienced Conventional claim analysts to accommodate the client’s need to rapidly reduce their backlog and maximize recovery in advance of Fannie Mae’s deadlines. Within the first three months CRFS submitted roughly 1,100 PIF claims resulting in recoveries of over $200,000. During Q1 2022 CRFS partnered with the client to implement a steady-state claim management workflow allowing them to meet Fannie Mae’s standard claim filing deadlines on go-forward PIF populations.

crfs shares details on HUD updates effective today

As you may know, the HUD Single-Family Housing Policy Handbook 4000.1 had updates that went into effect today, March 31st.  The changes applied to Section III – Servicing and Loss Mitigation,  Appendix 4.0 – FHA-Home Affordable Modification Program (FHA-HAMP) Calculations, and Appendix 5.0 – HUD Schedule of Standard Possessory Action and Deed-In-Lieu of Foreclosure Attorney Fees.  Note also that these updates were impacted by HUD ML 2022-06, which was released on March 29th.

CRFS worked with its clients to successfully implement the many policy updates that included but were not limited to:

  • First time Vacancy Requirements
  • Initial Vacant Property Inspections
  • Terminating Foreclosure Proceedings for Loss Mitigation
  • Expense Curtailment
  • Reasonable Diligence Definition
  • FHA HAMP Claim Incentive Validation and Non-Incentivized Modification Reporting
  • PFS Compliance and BPO Review

Contact us today if you’d like assistance navigating these changes to ensure your servicing operation stays in compliance and you’re maximizing your claim recoveries.  Visit here to view this and other HUD updates in their entirety:



crfs team supports orleans county 2022 united way campaign

The CRFS team just wrapped-up its annual Orleans County (NY) United Way campaign with a total 2022 pledge of over $10,000!  CRFS experienced a 37% employee participation rate increase and a 43% pledge amount increase this year, and also introduced our corporate match initiative.

Individual CRFS teammates will also be participating in the upcoming United Way Day of Caring community volunteer days.  THANK YOU to all of our dedicated employees for continuing to give back to the communities where they live and work!

crfs proud to be ds news most valuable company for march 2022

CRFS is being featured as the Most Valuable Company in the March 2022 issue of DS News.  We’re delighted to be this month’s “MVC,” and are grateful to DS News for the opportunity to showcase the important work CRFS is completing for our clients as the industry steadily returns to a more normal environment.  As we celebrate our 20th anniversary in 2022, CRFS continues to be the valued partner mortgage servicers can count on to help manage their increasing default and foreclosure volumes.

Check it out here…

CRFS Most Valuable Company March 2022



crfs proud sponsor of upcoming mba servicing solutions conference & expo

CRFS is excited to be sponsoring and exhibiting at the upcoming MBA Servicing Solutions Conference and Expo taking place Tuesday, February 22nd until Friday, February 25th in sunny Orlando, FL.  We’re pleased to be back to an in-person forum and look forward to the opportunity to responsibly reunite with our clients and partners at the largest Servicer event in the industry.  Click on the below button to learn more about the event and register to attend.
The team from MBA have once again organized an unparalleled lineup of speakers on the Main Stage, attendees can dive deep into specialty areas in the breakout sessions, and chat with peers across the entire residential real estate finance industry and meet with exhibitors in the HUB.  Overall the MBA and our fellow sponsors and exhibitors are committed to ensuring that attendees leave the conference with the insight needed to implement ideas for structural and operational improvements that address tomorrow’s servicing needs.

At the CRFS booth you’ll be able to meet live with our team and join us as we celebrate our 20th year in 2022 .  Since our founding in 2002, we have grown to become the leader in post-default claims management solutions. Our unmatched quality, timeliness and experience will reduce losses, maximize recoveries and allow the reallocation of vital internal resources. By offering a diverse mix of products and services, designed to function both independently or in a bundled approach, we increase the total value received on an investment made in us.

We very much look forward to connecting with our industry partners in Orlando in just a few short weeks.  If you’re attending, please drop us a line at and we’ll schedule a time to connect.

crfs 4th quarter 2021 real world case study – accelerated asset disposition consulting




  • Client:                   Mid-sized mortgage servicer


  • Challenge:            In late 2021 our client identified a population of FHA loans that were deemed as eligible to proceed with foreclosure and eviction activities. However, LOB leadership was faced with the challenge of determining the best path for disposition and resolution of their inventory to avoid unnecessary losses, maximize recoveries, and reduce holding costs. In most cases, these paths included Conveyance vs. Non-Conveyance, and if Non-Conveyance, the REO vs. 2nd Chance route.


  • Solution:              CRFS’ Accelerated Asset Disposition Consulting resource is a proprietary analytics engine that equips our consulting team with the tools to conduct a thorough review and evaluation of each loan. The variables built into the engine include foreclosure timelines, proper bidding ranges, surchargeable damage estimates, and documented advance amounts. Through the unique combination of the engine’s customized algorithms and our extensive knowledge of the disposition process, CRFS was able to provide our client with predictive data on the possible recoveries from the Conveyance, REO CWCOT, and 2nd Chance CWCOT options.  Moreover, the review output delivered detailed estimates if the client opted to sell the property through a REO “As Is” or a REO “Repaired” process.  Once the estimated recovery and expense amounts were determined, a comparative Summary Report was provided that estimated the potential gain or loss for each of the possible disposition scenarios. Loans referred to CRFS for Accelerated Disposition Consulting required on average no more than five business days for the Summary Report to be provided.


  • Value Add:            The standardized loan output provides quantitative data that supports our client’s decision making as they assess and select the option with the best potential financial outcome. At the time of acquisition or service transfer (as part of onboarding the loans), this will help monetize the conveyance options for the loan pool and quantify the financial implications of the investment. A periodic ongoing Accelerated Asset Disposition Consulting review of an existing loan conveyance population will identify existing inventory that has already been curtailed as well as maintain visibility into the potential financial outcomes of asset disposition decisions to help speed the disposition process.

crfs names new director of information technology

CRFS is pleased to announce the addition of Michael Meredith-Campellone as Director of Information Technology. Michael, who resides in Little Rock, AK, joins the Executive Team and brings over 30 years of IT experience to the company.  His responsibilities include the strategic development, management and project execution of both the Information Systems and Information Technology corporate infrastructures.  CRFS President Steve Mowers adds “We’re excited to add someone with Micheal’s breadth of experience to our Executive Team, and are gratified that our remote staffing model allows us to attract best-in-class talent like Michael to our organization.”

crfs 3rd quarter 2021 real world case study – hud claims audit services



  • Client:                  Several mid-sized mortgage servicers


  • Challenge:           During 2021, several CRFS clients received notice from HUD regarding an upcoming claims audit for FHA loans. Since there is typically a lengthy gap between HUD audits, the process surrounding claim package preparation, audit research, and responding to findings is unfamiliar to many HUD mortgage servicers.  Our clients were concerned with the technical details around identifying, collecting and delivering the necessary documents as well as providing consistent, valid responses to HUD.


  • Solution:              CRFS conducted kick-off calls with our clients to discuss the coordination of the claim package preparation and delivery process to HUD. As the HUD audit reviews proceeded, with CRFS’ support our clients were successful in resolving 60% of the preliminary pre-issuance findings before they ever appeared on HUD’s formal Initial Report. Moreover, leveraging our tremendous experience and understanding of HUD guidelines and the HUD Audit process, CRFS was able to contest (pending final resolution) nearly 65% of the findings that ultimately appeared on HUD’s Initial Report.


  • Value Add:           CRFS is unique in its ability able to draw on almost 20 years of experience with HUD Audits to optimize the planning and execution phases. The result is consistent levels of success in  partnering with our clients to reduce risk, mitigate findings, and reduce financial losses.  CRFS frequently receives compliments from HUD audit staff on our claim packages for their consistency and organization, which makes their review process more efficient.  We are also able to identify and operationalize finding trends from HUD Audits that give our clients an added level of regulatory and compliance peace-of-mind.