FNC Inc. hired Steve Grundleger as executive vice president.
Grundleger has 30 years of expertise in residential mortgage lending and securitization.
He managed the residential mortgage-backed securities (RMBS) bond rating business for Fitch Ratings before becoming part of a team building a structured finance business development group for the same company.
Prior to Fitch, Grundleger was a key principal developing and managing the RMBS bond rating business for Duff and Phelps Credit Rating Agency. Duff and Phelps was acquired by Fitch in 2000, when he assumed a senior role in the RMBS group at Fitch.
He also worked at Moody's Investors Service where he was a chairperson of RMBS bond and mortgage collateral credit. His prior work, also in developing RMBS markets, was with Salomon Brothers and the First Boston Corporation.
Since 1999, FNC has offered solutions that automate appraisal ordering, tracking, documentation and review for lender and servicer compliance with regulatory guidelines.