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FNC and General American Partner to Pipe Mortgage Collateral Services to Big Lenders |
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FNC and General American Partner to Pipe Mortgage Collateral Services to Big Lenders |
Oxford, MS and Pittsburgh, PA -- (August 14, 2001) -- Real estate lending technology firm FNC, Inc. and General American Corp. (GAC), a national provider of title insurance, appraisal and closing management services to the mortgage finance industry, announced today a strategic alliance agreement that will give FNC's clients access to GAC's services through FNC's custom electronic pipeline solutions for large lenders.
FNC's solutions speed workflow and reduce costs for mortgage lenders and their service providers by automating collateral services ordering and fulfillment and by integrating the software platforms for service reports and documentation with the lender's back-office software. FNC's secure interface will link GAC's appraisal, flood, title and closing services to FNC's clients in a seamless software environment. GAC will benefit from the partnership by tapping FNC's electronic channels to large lenders, while FNC will be able to offer its top lender-clients instant access to GAC's broad range of services.
"Industry-leading banks are seeking the best available technology to advance their competitiveness and meet the needs of their customers, and we are excited to be able to work with FNC to help lenders achieve better speed and dexterity in the marketplace," said Rich Snedden, General American CEO. "Through our alliance with FNC, GAC will deliver its real-estate settlement services in an integrated environment that gives lenders the tools to close loans faster and with better responsiveness, which is good for them and for GAC."
"This alliance makes GAC's highly regarded appraisal, title, flood and closing management services available to FNC's clients through our collateral management pipeline," said FNC CEO Bill Rayburn. "Our clients are looking forward to having these services available across a platform that makes ordering GAC's premium products and services an integral part of their electronic processing. This is fantastic for FNC."
Pittsburgh-based General American is one of the nation's largest independent title agencies and managed settlement services firm, specializing in title, appraisal and closing-management services to the mortgage finance industry. General American offers real-estate settlement services to financial institutions through a national electronic gateway, including the Internet and its four national processing centers. The company's primary ownership is through Mason Wells, the Milwaukee-based private-equity group. For more information on General American and its exclusive GATORS technology.
FNC Inc., based in Oxford, Miss., is a data-centric e-finance solutions firm helping migrate the financial services sector to the digital economy. FNC utilizes emerging technologies to power the electronic pipes, data and analytics that maximize data value and drive process improvements for its clients.