Through a strategic alliance announced Monday, mortgage originators using FNC‘s CMS collateral information management system will be able to access U.S. Property & Appraisal to order and receive residential appraisal assignments.
Lenders using the CMS are able to order vendor services automatically based on their business rules, receive completed orders, integrate order data and review received reports for quality control and to prevent fraud. The system aims to create efficiencies and heighten assurance for mortgage originators, while enabling processing staff to apply their expertise to exception cases and avoid redundant tasks, such as data entry.
Pittsburgh, Pa.-based USP&A is a nationwide real estate information services company providing residential and commercial appraisals, current owner searches, title reports and insurance, insured escrow, closing and settlement services and flood zone certifications throughout the United States.
Oxford, Miss.-based FNC Inc. is a collateral information management company that aims to speed loan decisions by converting paper to data to knowledge.
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