Electronic land registration and online property search firm Teranet, and appraisal management company NAS (Nationwide Appraisal Services) have formed Canada’s first partnership between a collateral risk management division and an appraisal management company. The aim of the partnership is to save time, enhance due diligence and mitigate fraud for Canada’s mortgage lenders, insurers, brokers and other real estate professionals, the companies say.
“Our partnership will provide a much-needed dimension to our current scope of valuation services,” says Craig Rowsell, EVP with NAS. “We will deliver a fully integrated service that utilizes key data to enhance the valuation decision and delivery process allowing clients to better mitigate risk in a cost effective manner.”
Specific client solutions will include:
* Decision analytics to support collateral risk management and facilitate the mortgage process.
* Collateral and fraud-related data to support clients’ collateral decision criteria.
* Risk management policy and pre- and post-adjudication valuation tools.
“Heightened scrutiny by regulators, exacerbated by changes in the Canadian mortgage lending arena, requires an end-to-end solution,” says Eduardo Alzamora, director, financial services for Teranet. “Our partnership will deliver integrated options as well as new products to meet changing demands.”
For more information: www.teranet.ca.