OXFORD — A Mississippi software firm will add at least 100 jobs thanks to a Brazilian contract.
FNC, which makes software to streamline mortgage lending, said it would do work for Cetip, a Brazilian firm that holds financial securities for others.
FNC’s software will help Brazilian banks manage documents, cut costs and help original lenders sell mortgages to others. Selling mortgages expands available credit, because the original bank can turn around and make another loan.
FNC did not release the contract’s value. With 310 employees nationwide, FNC said it plans to double in size within five years. It was founded by four University of Mississippi professors.
Gov. Phil Bryant spoke at the Oxford ceremony announcing the expansion, but the state did not provide incentives, officials said.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info