OXFORD, Miss., Oct. 30, 2012 /PRNewswire/ -- Cetip, Latin America's largest depository of fixed income securities, has selected mortgage technology leader FNC, Inc. to deliver a comprehensive collateral management solution for the Brazilian mortgage industry.
FNC®, whose clients are seven of the top 10 American banks, pioneered a Collateral Management System® (CMS®) that revolutionized the $14 trillion U.S. mortgage market – the largest industry on earth. Now, FNC will apply its time-tested, 13-year knowledge base to the Brazilian infrastructure.
"We at Cetip are excited to be partnered with FNC, the technology leader in the residential lending arena," said Roberto Dagnoni, Cetip executive director. "Brazil will greatly benefit from FNC's solutions that have proven so valuable to U.S. lenders."
In Brazil, FNC's technology solutions will:
"The partnership with Cetip places FNC at the very core of the sixth largest economy in the world, and we look forward to even more growth and success," said Governor Phil Bryant. "We're proud that FNC, recognized as one of the world's top 100 financial technology companies, is a Mississippi-born, Mississippi-based company."
In addition to its flagship product, the CMS, FNC brings to the table a number of powerful, state-of-the-art analytics designed to provide lenders with the details they need to make informed valuation decisions. FNC analytics are supported by its National Collateral Database™, the most comprehensive database of property information, blended from more than 78 million appraisals, public records, and MLS listings.
"We greatly appreciate the confidence Cetip has shown in FNC as they implement our solutions throughout the country of Brazil," said Bill Rayburn, FNC CEO and co-founder of the Mississippi-based technology company with offices in New York, Detroit, Dallas, Southern California, and Sao Paulo, Brazil. "We look forward to playing a significant role in providing the infrastructure for the Brazilian housing market."
Cetip is a publicly-held company that offers services related to registration, central registration depository, trading and settlement of assets and securities. Through technological and infrastructure solutions, it provides liquidity, security and transparency for financial operations, contributing to the sustainable development of the market and Brazilian society. The Company is also Latin America's largest depositary of fixed income securities and Brazil's largest private asset clearinghouse.
More than 15,000 institutions use Cetip's services, including investment funds; commercial, multiple and investment banks; brokers and distributors; lenders; consortiums; leasers and real estate credit companies; credit cooperatives and foreign investors; and non-financial companies, such as foundations, vehicle dealers, and insurance companies. Millions of individuals benefit each day by the Company's products and services, such as EFT processing and DOC clearing, as well as lien services, bank deposit certificates (CDB) and fixed income securities.
FNC® pioneered real estate collateral information technology. Since the mid-1990s, FNC has offered solutions that automate appraisal ordering, tracking, documentation and review for lender compliance with government regulations. FNC's clients have realized reduced costs and more efficient loan processing. With its Collateral Management System® (CMS®) and collateral-focused data and analytics, FNC provides advanced insight into the property backing a loan from origination to capital markets. No one understands real estate collateral better than FNC. Visit FNC online at www.fncinc.com and read our blog at www.collateralvision.com.
To interview Bill Rayburn or any of FNC's mortgage industry experts, contact:
Bill Dabney, corporate communications manager
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