M&I Bank Selects FNC For Appraisal Processing

Posted by Orb Staff on June 30, 2010 No Comments
Categories : Residential Mortgage

ll & Ilsley Bank (M&I Bank) has selected FNC solutions to electronically distribute and receive various components of M&I Bank's mortgage business, including title, appraisal and flood orders. FNC's Collateral Management System (CMS) will ensure M&I Bank maintains compliance with regulatory guidelines, and the system will automate the review of every loan in M&I Bank's portfolio, FNC says. Built into the CMS, the Generally Accepted Appraisal Rules (GAAR) Compliance and Risk Series automatically reviews appraisals and instantly flags any violations that may be indicators of risk. The CMS and GAAR work in tandem to document the entire loan process, ensure appraiser independence and compliance to national appraisal standards, and highlight indicators of appraisal or appraiser violations, FNC explains. Additionally, the CMS will automate many of the company's manual processes, including ordering appraisals and the subsequent tracking, receipt, analysis and reporting processes related to those appraisals. SOURCE: [link=http://www.fncinc.com]FNC Inc.

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