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Ramping Closing Rates 101 – How to Avoid Surprises on Closing Day!

As a lender, the last thing you want to deal with is low closing rates from your brokers or even your lending branches. Closing rates = dollars and cents. One of the biggest costs associated to a lending operation is underwriting. When you have a deal that proceeds into the underwriting process and then falls apart at the 11th hour, Continue Reading

Automated Valuation Models Could Support Fully Digital Deals

As technology has evolved, so too have the abilities of lenders. In the old days, arranging a deal was much more paper-based. Remember the old Basis 100 days? Technology has changed the speed at which a deal can be arranged, making the entire process faster. Cloud-based applications like Expert have created the platform for the digital deal – where most Continue Reading

The Numbers Are In: House Prices Up 2% in July

In July, the national composite rise was significantly driven by a 2.1% increase in the market with the largest aggregate property value: Toronto. While this looks strong given the current context in the GTA, note that a weakening is occurring in the unsmoothed index* for “dwellings other than condos” which is down 1.6%. This abrupt trend reversal in the index Continue Reading

Teranet Announces New Corporate Brand and Website

Teranet, Canada’s leader in the delivery and transformation of statutory registry services with extensive expertise in land and commercial registries, has unveiled its new corporate brand and website. While the Teranet icon – a symbol of the company for more than a quarter of a century – won’t change, Teranet hopes to strengthen the corporate identity with the new tagline Continue Reading

Mortgage Lender News: Impacts of an Interest Rate Increase

After months of speculation and years of an incredibly low interest rate, the Bank of Canada finally announced that the interest rate would increase. With an economy reaching a more stable point, this rate hike is not surprising. Have you, as a lender, felt any impacts yet? Obviously the most likely impact of a rate increase is going to be Continue Reading

Smaller Lenders Can Now Deploy the Same Tools that Banks Have Been Using for Years

Over the last few years, major institutional lenders have become accustomed to relying on technology and conducting more digital-type deals. With major firms, this technology is easy to adopt and cost-effective. However, some smaller institutions have found that implementing such technology has been budget prohibitive when looking at development costs. However, implementing technology that has traditionally been used only by Continue Reading

How to be One Step Ahead of the Fraudsters

Your team will be as agile as you want them to be. The tools and resources you provide to them can greatly increase your competitiveness as a company, not to mention overall profitability. As with anything related to business, there are needs and wants, and, just as with any other business, anything that relates to losing money is likely a Continue Reading

Scheduled Maintenance for Purview

Purview® will be down during the following period. Friday, July 21st – 10:00PM to Saturday, July 22nd 1:00AM This outage is to prepare for network and storage migration on the weekend of July 27th. We apologize for any inconvenience this may cause. Have any questions? Call 1.855.787.8439 or email purview@teranet.ca

Will U.S. Interest Rate Increases Lead to Increases Here in Canada?

Canadian interest rate speculators are at it again with news this year that the American Federal Reserve is gearing up to raise interest rates. What’s of interest to us north or the border is that U.S. interest rates are closely tied to certain Canadian mortgage products and can impact mortgage rates here at home. As you are likely aware, in Continue Reading