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Teranet and Nationwide Appraisal Services announce partnership creating efficiencies in the appraisal and mortgage approval process
By: PR Newswire
Nov. 22, 2012 01:44 PM
TORONTO, Nov. 22, 2012 /CNW/ - Leading electronic land registration and online property search firm Teranet, and appraisal management company NAS (Nationwide Appraisal Services), today announced Canada's first partnership between a collateral risk management division and an appraisal management company. The aim of this partnership is to save time, enhance due diligence and mitigate fraud for Canada's mortgage lenders, insurers, brokers and other real estate professionals.
"Our partnership will provide a much needed dimension to our current scope of valuation services," noted Craig Rowsell, Executive Vice President with NAS. "Importantly, 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."
The partnership delivers a comprehensive, reliable and cost effective valuation process that not only helps financial institutions mitigate risk through a more efficient underwriting process, but can also support adherence to OSFI guidelines and enhanced risk management. Specific client solutions will include:
"Heightened scrutiny by regulators, exacerbated by changes in the Canadian mortgage lending arena, requires an end-to-end solution," stated Eduardo Alzamora, Director, Financial Services, Teranet. "Our partnership will deliver integrated options as well as new products to meet changing demands."
Through this partnership, Teranet and NAS will work together to develop new and enhance existing products and services that will now include the following:
Proprietary Property Report:
NAS Intelligent Valuation Portal ("IVP"):
Teranet AVM Portfolio Update Service:
NAS ViewPoint Report:
For more information about Teranet, visit www.teranet.ca.
About NAS (Nationwide Appraisal Services Inc.):
For more information about NAS visit www.nas.com
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