Teranet Inc.

Teranet Inc.

April 10, 2014 08:30 ET

Canada Guaranty Signs Long-Term Agreement With Teranet

Teranet's Trusted Automated Valuation Model (AVM) Selected by Mortgage Insurer to Save Time, Cut Costs and Enhance Customer Service

TORONTO, ONTARIO--(Marketwired - April 10, 2014) - Teranet, a land registry systems operator and Canada's trusted real-estate data solutions provider, announced that Canada Guaranty Mortgage Insurance Company ("Canada Guaranty") has signed a long-term agreement to integrate Teranet's national Automated Valuation Model data into their adjudication decision engine. This enterprise agreement provides Canada Guaranty with access to accurate home valuation data which is based on actual home sales, allowing for faster and more informed adjudication decisions.

"Canada Guaranty has been leveraging Teranet's trusted AVM data for years, but we're always looking for smart ways to improve our adjudication process while enhancing the customer experience," says Curtis Gergley-Garner, chief risk officer at Canada Guaranty. "As we continue to grow our client base, advancing our analytics by capitalizing on Teranet's data solutions and customized offerings over the long-term makes good business sense."

Teranet's AVM delivers this leading mortgage insurer with sophisticated property analytics through powerful algorithms. Combined with Teranet's highly consultative approach, and a tightly integrated suite of additional risk management solutions, Canada Guaranty is well positioned to drive internal efficiencies and deliver the best customer experience.

"We value our long standing relationship with Canada Guaranty and are honoured that they entrust us with their critical data decisions," says Lawrence Franco, president, value added commercial solutions, Teranet. "Their decision to partner validates our approach of consistently delivering business value to our customers through innovative ideas and trusted data solutions."

Founded upon a robust real estate database, Teranet's integrated suite of national Risk Management Solutions provide the financial services industry with automated products that offer accurate property valuations, powerful fraud detection tools and extensive market insight. Teranet's rich AVM data can also be purchased through the exclusive web-based application PURVIEW. To learn more about Teranet's comprehensive range of national solutions, visit www.Teranet.ca or call 1-800-208-5263.

About Teranet

Founded in 1991, Teranet owns and operates Ontario's Electronic Land Registration System, one of the world's most advanced land registration systems, enabling users to conduct electronic registrations as well as title and writ searches relating to real property. Teranet's comprehensive suite of related data products have fundamentally increased the real estate industry's ability to provide efficient and secure services to the public. Teranet has built a well-established customer base and strong brand confidence, providing electronic services to approximately 47,000 end users including lawyers, paralegals, real estate brokers and agents, search houses, title insurers, financial institutions, governments, police services, utilities, investigators and appraisers. Teranet is owned by Borealis Infrastructure, a leader in direct infrastructure investing with well over a decade of investment experience. Borealis manages approximately $9 billion in OMERS equity capital through investments in a diversified portfolio of large-scale infrastructure assets exhibiting stability and strong cash flows, in sectors including energy, transportation and government-regulated services. It has offices in Toronto, London, New York and Sydney. Borealis is the infrastructure investment arm of OMERS, one of Canada's largest pension funds with net assets of more than CAD 65 billion and an AAA credit rating. For more information about Teranet, visit www.teranet.ca.

About Canada Guaranty Mortgage Insurance Company

As the only 100% Canadian-owned private mortgage default insurer, Canada Guaranty Mortgage Insurance Company is backed by the leading financial strength of its ownership group, comprised of the Ontario Teachers' Pension Plan and National Mortgage Guaranty Holdings Inc. Working with industry partners to promote greater access to sustainable homeownership, Canada Guaranty offers mortgage and lending professionals with improved choice through service excellence and a comprehensive suite of mortgage default insurance solutions. With headquarters in Toronto and a growing team providing national coverage, Canada Guaranty remains committed to meeting the diverse needs of homebuyers across the country. For more information, please visit www.canadaguaranty.ca.

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