PICKERING, Ontario--(BUSINESS WIRE)--FNF Canada and the Municipal Property Assessment Corporation (MPAC) announced their joint collaboration on a new collateral intelligence product that will assist lenders and mortgage insurers estimate the current value of properties within their real estate portfolio. The new Neighbourhood Profile Report is a part of FNF Canada’s suite of portfolio collateral products that provide a cost effective way to monitor and measure their real estate portfolio.
“FNF Canada is excited to work with MPAC on this new and exciting data product for our real estate partners,” said Brian Bell, Senior Vice President of Innovation & Data Solutions at FNF Canada. “FNF Canada continues to demonstrate our ability to develop data products that assist our partners with marketing tools and risk management opportunities. In doing so, FNF Canada has set a new standard in collateral management in the marketplace.”
“The newly created neighbourhood profiling product leverages MPAC’s robust database, creating reports that will assist lenders in making well-informed decisions regarding property value risk. These products will provide additional intelligence into lender decisions surrounding the valuation method used to validate property values in the most efficient and cost-effective way,” Bell said.
Together, MPAC and FNF Canada have responded to demand from the lending community to create innovative tools to assist in mitigating risk, making informed underwriting decisions, and increased overall efficiency and productivity during the collateral valuation cycle.
“MPAC is looking forward to the launch of this new product, as well as another exciting new offering in the next 60 days. The property-specific and neighbourhood intelligence provided in these reports, is really unlike any other in the industry. Lenders will benefit from understanding how a property of interest aligns to the surrounding marketplace.” said Chris Fusco, MPAC’s Director of Real Estate and Strategic Accounts, Business Development.
“MPAC is pleased to support FNF Canada in demonstrating how big data, leveraging MPAC’s industry leading property database, can create efficiencies and mitigate risk within the lending community,” said Fusco.
To learn more about the Neighbourhood Profile Report, contact a FNF sales representative.
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
The Municipal Property Assessment Corporation (MPAC) is an independent, not-for-profit corporation, responsible for assessing and classifying more than five million properties in Ontario in compliance with the Assessment Act established by the Government of Ontario.
MPAC also provides products and services such as propertyline™, a secure e-commerce solution for property information, to a number of sectors including banks, mortgage firms and other assessment jurisdictions.