Teranet, an electronic land registration and online property search firm, and FNF Canada, which provides national mortgage, appraisal and loan-related services to large and small Canadian lenders, recently announced a multi-year extension of their long-term partnership.
The next offering to be launched by the partnership is an all-inclusive appraisal risk summary scorecard. To be available early in the third quarter of this year, it will provide lenders with “fast, reliable and comprehensive information to assist with internal underwriting and deal scoring,” the companies say in a news release.
“As an industry leader, Teranet is committed to providing our clients with information-rich solutions that uncover the real value of properties,” says Lawrence Franco, president, value added commercial solutions at Teranet. “Working with valued partners like FNF allows us to seamlessly connect different data sources in a way that greatly enhances value for the industry.”
The partnership provides a platform for enhancements to the FNF Canada suite of appraisal products. The companies say this collaboration will “immediately enhance FNF’s Appraisal 360 Risk Scorecard system with up-to-the minute data from Teranet, and will be further integrated into existing and future FNF product offerings.”
Teranet is the exclusive provider of online property search and registration in Ontario and The Property Registry in Manitoba. Teranet developed, owns and operates Ontario’s Electronic Land Registration System (ELRS) and facilitates the delivery of electronic land registration services on behalf of the province. Teranet is owned by Borealis, a global infrastructure investment manager and the infrastructure arm of the Ontario Municipal Employee Retirement System. For information: www.teranet.ca.
FNF Canada provides national mortgage, appraisal and loan-related services to large and small Canadian lenders. For more information, visit their website.