LOGS Selects Clarifire
Northbrook, Ill.-based LOGS NETWORK, a national network of affiliated law firms that represent creditor's rights, said Monday that it had selected eMASON's Clarifire application as its platform of choice for REO management. Executives at LOGS said they selected Clarifire after evaluating the cost and time needed to build a proprietary solution in-house -- the platform will manage both REO process as well as short sales at the firm. eMASON, Inc., headquartered in Clearwater, Florida, had previously licensed the Clarifire application to LOGS’ HEART Financial Services division for managing all of its loss mitigation services. "The Clarifire application provides us with an easily customizable platform upon which we can more easily manage the business processes necessary to effectively manage our clients’ REO management and short sale requirements," said Gerald Alt, president of LOGS. "We found that other third party solutions are primarily built for use by in-house REO staff in mortgage servicing houses, and lacked some of the critical tools used by third party vendors like ourselves to aggressively and transparently assist our clients in the liquidation of their bank-owned real estate assets." eMASON is run by Jane Mason -- Mason is well-known in the default servicing industry for helping build a default services management platform for what at the time was known as Fidelity National Default Solutions, called NewTrak. She sold the technology to FNDS -- now Lender Processing Services, Inc. (LPS) -- in 2003. For more information, visit http://www.logs.com and http://www.emason.biz. Disclosure: The author was long LPS, and held no other positions in any of the stocks mentioned when this story was published. HW reporters and writers follow a strict disclosure policy, the first in the mortgage trade.