= Members Only Content
NEWS RELEASE
September 9, 2010
ABA Media Contact: John Hall
(202) 663-5473
E-mail: jhall@aba.com
FNC Media Contact: Bill Dabney
(662) 236-8304
E-mail: bdabney@fncinc.com
ABA AND FNC PARTNER TO PROVIDE RESIDENTIAL APPRAISAL SOLUTIONS
WASHINGTON — Business Solutions, a subsidiary of the American Bankers Association, has partnered with mortgage technology company FNC Inc.® to offer ABA members its collateral management platform, Collateral Headquarters™ (CHQ). ABA member banks will receive preferred pricing for implementing FNC's technology.
FNC's technology automates all facets of the banks' residential mortgage appraisal processes, including ordering and processing of appraisals, unparalled appraisal review tools, and transmission of appraisal information to investors. The Collateral Headquarters platform permits banks to utilize their own appraiser panel and ensure compliance with all appropriate regulations and investor guidelines. CHQ also provides an assessment of appraisers' reputation and performance, contains fraud prevention features, leads to a more streamlined workflow, and offers access to Fannie Mae and Freddie Mac's announced Uniform Collateral Data Portal.
"Through this technology – which is tailored for community and regional banks – participants can dramatically reduce the time required for appraisal reviews, reduce the risk that loans will have to be repurchased, and ensure compliance with bank regulations and investor requirements," said William Kroll, president of Business Solutions.
FNC cofounder and CEO Bill Rayburn said the partnership will benefit both ABA members and FNC.
"Our industry continues to face sweeping changes as a result of the Dodd-Frank Act and the volatile economy," Rayburn said. "But through it all, FNC customers know that we will help keep their collateral workflow smooth, rapid and compliant with federal regulations."
FNC has a team of experienced professionals who are ready to guide ABA members through the platform. For more information, click here or contact ABA's Jerry Sebold at 202-663-7540.
About American Bankers Association
The American Bankers Association represents banks of all sizes and charters and is the voice for the nation's $13 trillion banking industry and its two million employees. The majority of ABA's members are banks with less than $165 million in assets. Learn more at aba.com.
About Business Solutions
Business Solutions offers ABA members competitive products and innovative solutions selected by bankers for bankers that will help you save money, build customer relationships and improve your bottom line. Our unmatched, value-added products and services in Mortgage Solutions, Payment Solutions, Capital Markets, and Commercial Lending & Business Banking will minimize your expenses, maximize your bank's performance and, in many cases, offset your ABA dues.
About FNC Inc.
FNC pioneered real estate collateral information technology. Since 1999, FNC has offered solutions that automate appraisal ordering, tracking, documentation and review for lender compliance with regulatory guidelines. FNC's platforms are in production at seven of the 10 largest U.S. mortgage lenders and servicers, providing value to both large and small lender clients with reduced costs and more efficient loan processing. With its collateral management platforms and collateral-focused data and analytics, FNC provides advanced insight into the property backing a loan from origination to capital markets. No one understands real estate collateral better than FNC. Visit FNC online at www.fncinc.com.
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