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2004 2003200220012000 |
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Appraisal Forum and FNC Partner
to Bring Streamlined Appraisals to Lenders Mortgage Originators Using FNC’s Collateral Management System™ Gain Integrated Access to Appraisal Forum’s Residential Appraisal Services Oxford, MS (March 24, 2003) -- FNC Inc. announced today that it has formed a strategic alliance with residential appraisal company Appraisal Forum. The alliance will allow FNC’s mortgage-originator clients to access Appraisal Forum’s residential appraisal services directly through FNC’s Collateral Management System™ (CMS), enabling integrated appraisal ordering and procurement. FNC’s CMS is a seamless pipeline for mortgage originators that automates collateral decisioning based on mortgage originators’ business rules. The system connects originators to their third-party service providers -- appraisers, title providers, flood providers and so on -- for the streamlined carry-through of those automated decisions. "FNC’s CMS connects our lender clients, such as Bank of America, to Appraisal Forum and automates the ordering process of Appraisal Forum’s services," said Carsten Kaaz, chief information officer, Appraisal Forum. "This strategic alliance will give our clients built-in access to our services based on established business rules. The bottom line is faster turn-around – better service for our customers and consumers." "We’re pleased to make Appraisal Forum part of the network of service providers originators can access through the CMS," said Mike Mitchell, FNC’s director of business development. "Our system is built to take the current workflow of mortgage originators and to bring it online, eliminating redundancy and introducing automation wherever possible. Through our alliance with Appraisal Forum, this means that lenders can automatically order appraisals from a vendor they trust, saving time and cost." About Appraisal Forum Appraisal Forum, headquartered in Memphis, Tenn., was established in January of 1999 to serve the unmet needs of the rapidly consolidating and highly competitive residential mortgage industry. Appraisal Forum offers a single-source solution with its "state of the art" Web-based appraisal services and data storage system. With the use of its Instant Access™ system, coupled with its unique business model, Appraisal Forum is able to offer faster turnaround times and more accurate appraisals than by using traditional methods. Appraisal Forum currently offers residential appraisal services in 22 states covering approximately 43 percent of metropolitan statistical areas (MSAs) in the United States. Visit Appraisal Forum’s Web site at www.appraisalforum.com. About FNC Inc. The pioneer in real estate collateral management technology, FNC Inc. is synonymous with mortgage efficiency. FNC’s Collateral Management System (CMS) automates pre- and post-funding risk review and streamlines operations – improving security, communication, market intelligence and analysis. Financial institutions and service providers alike rely on FNC’s CMS, along with related data services and analytics products, to reduce costs and provide better service and value to customers. FNC is the collateral information infrastructure company that speeds loan decisions by converting paper to data to knowledge. Visit FNC’s Web site at www.fncinc.com. Contact: Appraisal Forum (901) 754-6640 info@appraisalforum.com Don Mundie Delta Capital Management LLC 901-755-0949 |
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