FNC Announces Patent for Appraisal Score

""FNC, Inc."":http://www.fncinc.com/ received a U.S. patent for Appraisal Score, making it the first patented appraisal review tool.

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FNC clients use the company's automated Appraisal Score to discern compliance, risk, and fraud issues in residential property appraisals and address the problems prior to funding or purchasing a loan.

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""Critics of the American appraisal process say the process is broken and they're looking to new government regulations to fix the problem. But we've already developed the solution: the adoption of our Appraisal Score and other technology can reform the process,"" said Bob Dorsey, FNC co-founder and EVP for Data & Analytics.

Appraisal Score is based on a set of Generally Accepted Appraisal Rules™ (GAAR®) developed by FNC to automatically catch errors in violation of federal regulations.

Appraisal Score also helps users become aware of risk or potential fraud in an appraisal. If the system finds many violations, the appraisal report will receive a low Appraisal Score and will be routed automatically to a staff reviewer or underwriter for further examination.

Headquartered in Oxford, Mississippi, FNC has offered solutions that automate appraisal ordering, tracking, documentation and review for lender compliance with government regulations.