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FNC developing oil spill website

OXFORD — FNC Inc. is asking Gulf Coast-area real estate professionals to provide information for a new website that would track home sale prices of properties that may have been affected by the recent oil spill in the Gulf of Mexico. The Collateral Vision Gulf Coast Crisis Website, available this fall, would map property values from the Gulf Coast at least 50 miles inland.

FNC is encouraging industry professionals in the affected areas — community bankers, lenders, appraisers, real estate brokers, bank managers — to use the site to post photos, narrative, blog entries and comments describing what they discover about the oil spill’s impact on home values and sales.

“We hope the website will become a repository of detailed news about how lenders, loan servicers and insurers are responding to homeowners whose incomes and mortgages have been affected by the oil spill,” said Carol Luitjens, FNC’s chief marketing officer.

Also on the site, FNC experts will discuss how appraisers might evaluate the impact of the oil spill fairly and accurately, how the spill may affect homeowners trying to refinance and how an enormous number of insurance claims may affect the mortgage and lending industries.

Eventually, visitors to the site will be able to enter a zip code and recover a wealth of information about current residential property values and trends within 100 miles of the Gulf Coast.

About Wally Northway

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