FNC Inc. and Just Valuation Inc. have announced a strategic alliance that will make JVI’s residential appraisal and inspection services available through FNC’s CMS collateral information management system.
FNC’s CMS is a decisioning system that aims to make mortgage origination more efficient and JVI’s staff more productive through automated service procurement. JVI itself uses the CMS to manage appraisal and inspection orders, along with tracking and delivery among its nationwide network of vendors. Now through this strategic alliance, other FNC CMS clients will be able to use their systems to order services from JVI.
“We’ve gotten tremendous benefit from the CMS already internally,” said Ron L. Nation, president and CEO of JVI. “It’s a natural extension of our business to be part of the CMS vendor network, too, so that lenders nationwide can tap into the REO appraisal and inspection services we offer. It’s a win for us to be part of the CMS vendor network from which other companies can order services, and it’s a win for CMS lenders to be able to access the REO and appraisal specialists at JVI.”
Altamonte Springs, Fla.-based JVI is a provider of appraisal services, which has 5-plus years’ experience as a management and marketing contractor for the U.S. Department of Housing and Urban Development’s REO inventory for the state of Florida, Puerto Rico and the U.S. Virgin Islands, as well as HUD REO appraisal oversight for 24 additional states across the nation.
Oxford, Miss.-based FNC is a collateral information management company that aims to speed loan decisions by converting paper to data to knowledge.
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