FNC Software Updated for HVCC Compliance
Oxford, Miss.-based mortgage software developer FNC added debit and credit processing services to its Collateral Management System software under a three-year contract with US Bancorp’s (USB) credit card processor unit Elavon. Mortgage lenders and servicers that use the Collateral Management System may now order regulation-compliant appraisals with credit and debit transactions. The credit card processing functionality was added to ease the process of ordering appraisals, a process whose guidelines changed with the implementation of the Home Valuation Code of Conduct (HVCC). “FNC has been committed to helping our clients comply with HVCC guidelines since they were first announced last year. This new functionality just further supports those efforts,” Jon Fisher, director of strategic projects at FNC, said in a statement. Write to Austin Kilgore.