Skip to main content

FDIC announces plan to free up bank liquidity

Oct 14, 2008

FNC technology enables regulatory compliance for VMCsMortgagePress.comFNC, vendor management companies, VMCs, Collateral Headquarters, Home Valuation Code of Conduct, HVCC, Generally Accepted Appraisal Rules Now, more than ever, vendor management companies (VMCs) are concerned about being able to prove they're fair and impartial when placing valuation orders, especially in light of recently proposed guidelines designed to further enforce appraiser independence. Mortgage technology company FNC Inc. has announced that its Collateral Headquarters product will help vendor management companies conform to the new Home Valuation Code of Conduct and Regulation Z guidelines. "As HVCC and Reg Z requirements come to fruition, more and more lenders will ask their VMCs if they're in compliance," said Kagan Coughlin, FNC product manager. "Owners of VMCs who use the Collateral Headquarters system can be confident that their operations comply." Coughlin said the Collateral Headquarters system features vendor management functionality that assigns orders to appraisers and valuation professionals in an automated, round-robin sequence, thus preventing bias. The system also documents such activity-documentation that can potentially be used as evidence of compliance if necessary. FNC Chief Legal Officer Neil Olson said, "Collateral Headquarters will support vendor management companies by providing the necessary documentation of their appraisal review process and due diligence in compliance with Reg. Z and the HVCC." According to product information, Collateral Headquarters in conjunction with FNC's Generally Accepted Appraisal Rules (GAAR), provides automated tracking of appraisal review procedures, guidelines, and results while maintaining a consistent method of screening appraisal reports for accuracy, compliance, and risk. For more information, visit
About the author
Oct 14, 2008
STRATMOR, Teraverde Deal A 'Merger Of Equals'

The recent merger of mortgage advisory firms came without the need to lay people off or make any major staffing changes.

May 23, 2024
NEXA Pays Loan Officers 100% Of Commission Splits

LOs won't pay per-file fees or other hidden fees with NEXA100, says NEXA Founder and CEO Mike Kortas.

May 22, 2024
The Right Prescription

‘Doctor Loans’ making healthy strides in Florida

May 21, 2024
123 Newrez Employees Laid Off In Florida and Colorado

WARN Notices were filed the day after Computershare Mortgage Services, SLS acquisition closed.

May 07, 2024
Ishbia Predicts A Rate Cut By Election Day

CEO of United Wholesale Mortgage shares 'personal perspective' in new YouTube video

May 03, 2024
Yield Curve, Schmield Curve?

The yield curve is a harbinger, not the be-all, end-all for lenders.

May 02, 2024