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.


Contact ALTA at 202-296-3671 or communications@alta.org.

SoftPro, based in Raleigh, NC, offers a mature suite of products, designed specifically for the closing and title industry. Our mission is to serve our client base, with best-in-class products and services. Our products are modular so we don't force you to buy anything you don't need. You can always add on as your business grows. Unlike other software companies, we view the sale as the beginning of the relationship rather than the end. North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.