Lenders Get Faster Mortgage Turnaround through FNC-NATC Alliance

May 15, 2002

OXFORD, /PRNewswire/ -- FNC, Inc., the collateral information infrastructure for lenders, have formed a strategic alliance with North American Title Company that will enable FNC's large lender clients to access NATC's title services and non-insured property reports online through FNC's collateral management pipeline.

FNC's clients will be able to access North American Title Company's products via a link within FNC's Collateral Management System(TM) (CMS). The CMS is an internal, rules-based decisioning platform that provides lenders with the infrastructure for integrated communication and data exchange across multiple software programs. This infrastructure allows lenders to achieve benefits, such as reduced loan processing costs and increased quality control, that can be passed on to consumers. FNC's services have increased productivity and reduced collateral procurement times for its customers up to 75 percent.

"We're eager to utilize the XML technology that FNC's system incorporates," said Briant Humphrey, director of corporate sales of North American Title Company. "This partnership will allow North American Title to tap into the speed and efficiency of XML to expedite the title process for its customers."

"Our partnership with North American Title gives FNC's lender customers another channel for ordering and receiving quality title services," said Bill Rayburn, chief executive officer of FNC. "Lenders look to our platform for process improvements that will allow them to better serve their customers, streamline their businesses and positively impact bottom line. Adding NATC to our more than 40 service-fulfillment alliances strengthens the value of our software and emphasizes our commitment to bringing new efficiencies and cost savings to collateral management."

Source: FNC, Inc.

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