Two of industry's leading service providers have entered into strategic partnership.
Teranet and Equifax Canada have joined forces to offer Canadian home buyers a new Real Estate Secured Lending insights report.
"We know our clients have been looking for insight into Canadians' mortgage and real estate status", Bill Johnston, vice president, data and analytics at Equifax Canada said in a release. "Partnering with Teranet enables us to shape data into solutions to help meet that need. Providing deeper insights can keep our customers make more informed decisions, which ultimately benefits Canadian consumers seeking credit. We're pleased to be part of that."
Both brokers and lenders will likely glean valuable information about housing markets that can be better used to serve clients.
The report will contain real estate data that can be used to evaluate mortgage products and services for clients according to the release.
"We are very excited to partner with Equifax and look forward to providing customers with even greater insights that will ultimately strengthen lending decisions," Drew Doherty,director of marketing and product development at Teranet, said.
"These data rich solutions can be used by financial institutions to inform and adjust their strategies and underwriting guideline while aligning solutions to meet the evolving needs of Canadian consumers."
source: REP by Justin de Rosa March 29,2016