Multi-Format Codec (MFC) or Fully Integrated Mobile Video (FIMV) is an intellectual property core present within the Samsung Exynos SoCs to offer hardware accelerated encoding and decoding of video formats such as MPEG-2, MPEG-4, H.263, H.264, VC-1 and VP8.
A Video 4 Linux 2 driver has been made available in the kernel by Samsung. Several experimental examples on how to use the driver can be found in this repository. The mainline kernel would be full available in v4.8, it has been verified in Samsung Exynos 4412, both decoder and encoder would work fine.
A driver for VDPAU could be found here VDPAU driver.
You may want to use powerful GStreamer, the decoder have merged into gst-plugins-good v4l2 subsystem. You could find the encoder for gst-plugins-good from the link in Gstreamer Bugzilla. Both decoder and encoder have confirmed working at Exynos 4412.