OXFORD — FNC Inc., a mortgage technology company, took its operations global this week, officially opening an office in Sao Paulo, Brazil.
Last fall, Sao Paulo-based Cetip — Latin America’s largest depository of fixed income securities — selected FNC to deliver a comprehensive collateral management solution for the Brazilian mortgage industry.
“We at Cetip are excited to be partnered with FNC, the technology leader in the residential lending arena,” said Roberto Dagnoni, Cetip executive director. “Brazil will greatly benefit from FNC’s solutions that have proven so valuable to U.S. lenders.”
In Brazil, FNC’s technology solutions will:
• Provide Brazilian banks with a system to manage the collateral valuation process, reduce costs, expedite the lending process, and access loan-level data
• Create an information hub that centralizes the various components of the Brazilian mortgage process
• Become the critical link between the various trading partners in the Brazilian mortgage process and between the primary and secondary markets
• Ultimately act as an essential infrastructure player for the emerging Brazilian secondary market, by providing information and tools to investors
“We greatly appreciate the confidence Cetip has shown in FNC as they implement our solutions throughout the country of Brazil,” said Bill Rayburn, FNC CEO and co-founder of the Mississippi-based technology company with offices in New York, Detroit, Dallas, Southern California, and Sao Paulo, Brazil. “We look forward to playing a significant role in providing the infrastructure for the Brazilian housing market.”