|By PR Newswire||
|February 22, 2007 12:20 AM EST||
EL SEGUNDO, Calif., Feb. 21 /PRNewswire/ -- Computer Sciences Corporation today announced a strategic agreement with eMason Inc. for the integration of eMason's Clarifire Web-based process application with CSC's EarlyResolution collections and loss mitigation fulfillment product. Together, the companies offer the consumer lending industry an end-to-end default management solution on a common business platform. The announcement was made at the Mortgage Bankers Association National Mortgage Servicing Conference in San Diego, Calif.
The agreement provides CSC clients using EarlyResolution's default work- out decision engine with direct access to eMason's Clarifire foreclosure and bankruptcy process automation software. EarlyResolution has proven its ability to significantly reduce credit loss exposure by effectively addressing loan issues early in the delinquency timeline. Clarifire streamlines the interaction between servicers, attorneys, property preservation teams and others, automates manual processes and provides real-time dashboard reporting. The solution is designed to dramatically improve orchestration of collections, loss mitigation and foreclosure/bankruptcy activities, while decreasing overall cycle times, reducing labor costs and increasing end-user acceptance.
"We are very pleased to announce this agreement," said Kevin Schlumpf, managing director of CSC's EarlyResolution group. "By connecting EarlyResolution and Clarifire, we offer the industry an end-to-end default management solution simultaneously accessible to all parties on a single platform. Attorneys and many other third-party default service providers will now have direct access to industry-leading, Web-based tools and an automated process that results in greatly expedited response times."
"For the first time, the industry can capture and manage all default processes and close the gaps between technologies, vendors, borrowers and fulfillment of resolutions in one centralized place," said Jane Mason, president of eMason. "Early Resolution automatically launching processes in Clarifire provides a solution that creates quick and measurable results."
CSC's EarlyResolution is a leading default management solution, created in 2000 by Freddie Mac and a consortium of banks to help mortgage servicers find effective solutions when borrowers are in default, lower collection costs associated with defaults and enable more borrowers to keep their homes when facing potential foreclosure. Acquired by CSC in 2003, and since enhanced to offer workflow capabilities that support the loss mitigation process, EarlyResolution is used by five of the top 10 loan servicers.
Clarifire is eMason's easy-to-use application that allows executives, business analysts and other authorized users to create and change business processes in real time without programmers. For the first time, the business can manage and change the technology. Flexibility to create new processes and products on the fly as market conditions change enables enterprises to move quickly, in real time, to competitive superiority.
With a heritage in legal and professional organizations, eMason is dedicated to improving business processes and corporate performance. We provide process centric solutions and workflow management that can be automated in all environments. Our company identifies opportunities that generate competitive advantage, then implements automated applications that promote knowledge sharing, supply chain collaboration, and real-time process improvement and management. eMason's web based solutions are utilized for knowledge management, professional services automation, relationship management and business process automation. Companies the world over face a common dilemma -- how to keep business process costs low while increasing the value of their client services and meet the needs of a dynamic marketplace. With advances in software and Web technology, the promise of automated business process management has become a reality with eMason.
Computer Sciences Corporation is a leading global information technology (IT) services company. CSC's mission is to provide customers in industry and government with solutions crafted to meet their specific challenges and enable them to profit from the advanced use of technology.
With approximately 77,000 employees, CSC provides innovative solutions for customers around the world by applying leading technologies and CSC's own advanced capabilities. These include systems design and integration; IT and business process outsourcing; applications software development; Web and application hosting; and management consulting. Headquartered in El Segundo, Calif., CSC reported revenue of $14.7 billion for the 12 months ended Dec. 29, 2006. For more information, visit the company's Web site at http://www.csc.com/.Computer Sciences Corporation
Web site: http://www.csc.com/