FNC, Inc., a subsidiary of

CoreLogic CoreLogic, Inc. is an Irvine, CA-based corporation providing financial, property, and consumer information, analytics, and business intelligence. The company analyzes information assets and data to provide clients with analytics and customized ...

, provides data to the real estate industry. Its Collateral Management System (CMS) provides secure information regarding

mortgage loan A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any ...

s. FNC's ports, or web-based worksites, provide companies in various industries an efficient portal to exchange information with lenders and vendors. FNC operates four different ports: AppraisalPort, InspectionPort, TitlePort and DocuHarbor. CollateralDNA is a service that works to provide a full view of the mortgage collateral process.

History

FNC was founded in 1995 by Bill Rayburn, Dennis Tosh, Robert Dorsey and John Johnson, then finance professors at the

University of Mississippi The University of Mississippi ( byname Ole Miss) is a public research university that is located adjacent to Oxford, Mississippi, and has a medical center in Jackson. It is Mississippi's oldest public university and its largest by enrollment ...

and financial consultants, who recognized a need to manage collateral assets in mortgage transactions. It was funded by local investors. The university also provided support for the company. In 1999, the company signed its first major client, Charter One Financial based in Cleveland, Ohio. The original name of the company was ''Financial Neural Computing''. The company's focus changed and the name was changed to FNC. In 2008, FNC was on the list of fastest growing private companies by Inc. From 2008 to 2019, FNC sponsored the Oxford-Lafayette Fields. During this sponsorship, the sports complex was renamed to "FNC Park". In August 2009, the company announced integration with DartAppraisal.com. In September 2010, FNC introduced its Residential Price Index, a benchmark for home values. It was based on data collected from public records blended with data from real-time appraisals of property and neighborhood attributes and the mortgage industry's first hedonic price index for residential properties. A hedonic approach is based on a holistic view of all the data available. It is constructed to gauge price movement among non-distressed home sales, and excludes sales of foreclosed properties. In July 2012, the company partnered with Valued Veterans. In November 2012, the company announced a partnership with Cetip, a

Brazil Brazil ( pt, Brasil; ), officially the Federative Republic of Brazil (Portuguese: ), is the largest country in both South America and Latin America. At and with over 217 million people, Brazil is the world's fifth-largest country by area ...

ian company, with plans to add 100 jobs. In March 2013, the company opened an office in

. In July 2013, FNC launched the FNC Clean Room, a web-based online marketplace for

s. In December 2015,

agreed to acquire the company for $475 million. The sale created 45 millionaires. The transaction was completed in 2016. At that time, the home value index was discontinued. During the acquisition in 2016, the FNC Clean Room was spun off into a separate company called mTrade (Mortgage Trade).

References

External links

* {{DEFAULTSORT:Fnc Inc. 1995 establishments in Mississippi 2016 mergers and acquisitions Business intelligence companies Companies based in Mississippi Data brokers