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August 13, 2009

Elavon Ratifies Agreement With FNC

To provide real-estate and mortgage banking professionals with a single source for managing multiple vendor relationships, throughout the entire lending process

By CBR Staff Writer

Elavon, a wholly-owned subsidiary of US Bancorp, has signed a three-year agreement with FNC, a technology company offering tailored solutions for the real-estate and mortgage industry to streamline industry processes, regulations and compliance.

The agreement is expected to provide credit and debit processing services via a new dashboard functionality offered by FNC in support of the Home Valuation Code of Conduct (HVCC) – a regulatory requirement impacting the mortgage industry’s appraiser selection process.

FNC’s Collateral Management System and Collateral HQ technology platform are expected to provide real-estate and mortgage banking professionals with a single source for managing multiple vendor relationships, throughout the entire lending process. Elavon’s solution enables FNC’s lender clients to deliver a credit/debit payment feature on their dashboard, enabling them to more efficiently collect and pay vendor fees.

Elavon provides end-to-end payment processing services to more than one million merchants in North America and Europe.

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FNC offers solutions that automate appraisal ordering, tracking, documentation and review for lender compliance with OCC, OTS, Federal Reserve, FDIC, and other regulations.

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