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Lender Tips: What to Do When You Need More Holistic Property Data

Mortgage lenders, here at Teranet, we know bulk property data is necessary for optimizing your business, but often finding the property data you need can be tricky business.

Some products offer certain property data metrics you require, but not others. Or one client requires different risk assessment than another. No two mortgage lenders are the same, just as no two clients are the same. That’s why we’re committed to giving you customized property data solutions you can use, no matter the situation.

From individual professionals to major institutions, Teranet can help financial service providers manage overall risk and drive efficiencies across their residential property market activities.

We offer widely used and trusted information solutions that deliver automated and cost-efficient access to reliable property valuations, fraud detection tools, portfolio analysis and market insight across Canada.

These customized solutions include:

1. Automated Valuation Models (AVMs)
A national property valuation tool that derives a statistical estimate of home value based on registered sales data and can be used to review a single household or your full portfolio.

2. Insured AVMs
Supports the subject property valuations with limited E&O insurance protection. Provides a superior level of lender coverage than the standard appraisal products available.

3. Canadian Mortgage Insight
Measure your activity against those of your competitors through data on mortgages, equity, and mortgage switches by institution, area, and date. Generate aggregated records related to sales of properties (Transfers) and mortgages on properties (Charges, Discharges, and Assignment of Charges).

4. PIN Monitoring
Monitors title activities on each property in your portfolio by receiving timely notification of any Charges or Discharges.

5. Mortgage Registration Validation
Confirm your mortgages are secured against collateral. Validate property registration and discover registration errors.

6. Condo Solutions
Assess exposure by identifying the number of mortgages held in a building.

7. Custom Portfolio Analysis
Monitor the loan-to-value ratio (LTV) of every mortgage in your book.

8. Collection & Recovery
Prioritize targets by confirming critical information such as address, ownership, property value and estimated home equity.

9. Automated Decision Tree
An Automated Decision Tree (ADT) will to route valuation requests to the most suitable product type — balancing efficiency (turnaround time), cost, and risk management concerns. A request cascades through several tiers as the ADT logic tests for fit:

  • AVM or Desktop Appraisal in areas where AVM suppliers do not provide service
  • Drive-by / Hybrid Appraisal
  • Full Service Appraisal

10. Teranet Valuation Performance Service (VPS)
VPS will route valuation requests to the most suitable product type — balancing efficiency (turnaround time), cost, and risk management concerns. VPS puts the lender’s policy back in charge with full management and oversight of business workflow. All rules and policy guidelines are embedded in the system with administrative editing, override capabilities, etc.

11. Even More Customized Solutions
Don’t see a solution that works for you? Teranet can work with you to develop a custom solution to meet your evolving needs. Whether you are looking for better control of loan risk and performance, data validation, registration activity, market trends, industry trends and marketing opportunities, our experts can help.

Learn more about Teranet’s customized property data solutions for mortgage lenders at https://www.teranet.ca/commercial-solutions/financial-services/.

 

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