SOURCE: FNC Inc.

FNC Inc.

October 07, 2010 16:31 ET

FNC Index Shows 10 Cities With Appreciated Home Values

As the Mortgage Market Tanked, Housing in These Cities Improved

OXFORD, MS--(Marketwire - October 7, 2010) -  As the U.S. housing market nosedived over the past decade, home prices in some cities actually improved, according to a report released this month by mortgage technology company FNC Inc.

Senior FNC economist Yanling Mayer conducted the study using FNC's new Residential Price Index and identified the top 10 U.S. cities with the greatest annual appreciation in home prices since 2003:

  • Baltimore 7% increase

  • Seattle 5.7% increase

  • Washington, D.C. 4.5%

  • Los Angeles 3.8%

  • Portland 3.8%

  • San Antonio 3.2%

  • New York 3.1%

  • Nashville 2.8%

  • St. Louis 2.4%

  • Columbus, OH 1.3%

FNC's study shows that the median U.S. price appreciation (for 60 MSAs) is up 0.6% annually over the past seven years, which positions the top 10 cities all above the national average.

FNC, the company that pioneered collateral management software for the nation's mortgage lenders and servicers, launched its Residential Price Index (RPI) in September. The index is the industry's only hedonic model, which means it derives price trends using data from all properties within a community, not just from repeat-sale properties as other indexes do.

FNC is offering the RPI free, hoping it will be useful to banks, journalists, and government officials.

About FNC Inc.

FNC pioneered real estate collateral information technology. Since 1999, FNC has offered solutions that automate appraisal ordering, tracking, documentation and review for lender compliance with OCC, OTS, Federal Reserve, FDIC, and other regulations. FNC's platforms are in production at 7 of the 10 largest U.S. mortgage lenders and provide value to both large and small lender clients with reduced costs and more efficient loan processing. With its collateral management platforms and collateral-focused data and analytics, FNC provides advanced insight into the property backing a loan from origination to capital markets. No one understands real estate collateral better than FNC. Visit FNC online at www.fncinc.com.

Contact Information

  • For more information, contact:

    Bill Dabney
    FNC Public Relations Manager
    Phone 662/236.8304
    Email Contact