Teranet Inc.

Teranet Inc.

April 23, 2015 08:30 ET

Teranet and FNF Canada Announce Partnership Extension

First Product to Launch Helps Lenders Mitigate Risk When Underwriting and Deal Scoring

TORONTO, ONTARIO--(Marketwired - April 23, 2015) - Teranet, a leading electronic land registration and online property search firm, and FNF Canada, a leading provider of national mortgage, appraisal and loan related services to large and small Canadian lenders, today announced a multi-year extension of their long term partnership. This future commitment ensures the ongoing development of innovative, industry leading technology solutions for large and small lenders across Canada.

The next offering to be launched from this partnership will be an all-inclusive appraisal risk summary scorecard. Available in early Q3, lenders will benefit from fast, reliable and comprehensive information to assist with internal underwriting and deal scoring.

"As an industry leader, Teranet is committed to providing our clients with information-rich solutions that uncover the real value of properties," said Lawrence Franco, President, Value Added Commercial Solutions. "Working with valued partners like FNF allows us to seamlessly connect different data sources in a way that greatly enhances value for the industry."

"FNF Canada has always been a pioneer in presenting our customers with fast, agile data and reporting solutions to better support their business with us," said Dustin Allan, President of FNF Canada. "FNF and Teranet have a very strategic and long term business partnership. These new initiatives are a testament to this great working relationship."

The continued partnership provides a platform for cutting edge enhancements to the FNF Canada suite of appraisal products. 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.

About Teranet

Founded in 1991, Teranet is an international leader in electronic land registration and 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. The ELRS is the means by which ownership of real property and interests on title are searched, recorded and transferred in the Province of Ontario and is widely recognized as one of the most advanced, secure and sophisticated electronic land registration systems in the world. Teranet is owned by Borealis, a leading global infrastructure investment manager and the infrastructure arm of the Ontario Municipal Employee Retirement System.

For more information about Teranet, visit www.teranet.ca.

About FNF Canada

With over 25 years of trusted service, FNF Canada is an innovative provider of national mortgage, appraisal and loan related services to large and small Canadian lenders. We specialize in facilitating all aspects of a mortgage transaction, including title insurance, document processing, property tax management, appraisal management and valuations services. Our exclusive end to end solution suite is unmatched in the industry, seamlessly integrating all FNF services on a single platform which provides our customers with the complete transaction life cycle.

For more information about FNF Canada, visit www.fnf.ca.

Contact Information

  • Media Contacts:
    FNF Canada
    Craig Goom
    Director, Marketing & Communications
    289-562-0088, ext. 24184
    cgoom@fnf.ca

    Teranet Inc.
    Paul McGowan
    National Marketing Manager
    416-360-8863, ext. 2568
    paul.mcgowan@teranet.ca

    Advantis Communications
    Cyrus Mavalwala
    President
    416-848-1885 x 151
    cyrus@advantiscomm.com