How credit unions can enhance their members’ experience with PurView

Credit unions are committed to delivering personalized, transparent, and effective lending experiences that truly support their members and their communities. As the lending landscape continues to evolve, credit unions remain focused on enhancing the member’s experience at every stage of the lending lifecycle. By closely examining each component of the lending workflow, they can identify opportunities to improve efficiency, strengthen relationships, and better serve their members’ financial needs. 

PurView provides credit unions with access to authoritative property data, including ownership information, sales history, mortgage details, property valuations, equity estimates and other insights to support lending decisions.  

Having access to accurate property intelligence can help credit unions better understand the properties in their lending portfolio, identify opportunities, and make informed decisions throughout the lending lifecycle. 

Here are the key ways credit unions can leverage PurView to support their lending process: 

Having access to the most authoritative property data available allows credit unions to streamline the underwriting process. With access to authoritative property data, including ownership information, property characteristics, historical ownership information, and valuation insights, PurView can help underwriters validate the critical property information. 

This allows credit unions to ensure a streamlined underwriting process to help support faster lending decisions, while still maintaining strong risk management practices.  

Credit unions can leverage Teranet’s Automated Valuation Model (AVM) within PurView to access property valuation insights that support faster, more informed lending decisions. By providing an estimated property value based on market data and analytics, AVMs can help lenders streamline mortgage renewals, support refinancing decisions and better understand a members’ equity position.  

Having access to these insights reduces manual research or the need for appraisals, while creating a more efficient and streamlined lending process. 

With the support of Property Monitoring, as offered in PurView, credit unions can maintain ongoing visibility into the properties within their portfolio. The Property Monitoring solution offers alerts on properties when changes occur on title. Rather than relying on periodic manual reviews, lenders can proactively manage their portfolio and stay on top of any changes or charges on title, which helps teams identify any potential risk. This helps support stronger portfolio management, identify potential risks early, and helps you maintain confidence in your secured lending assets.  

To offer greater support on risk management practices, credit unions also have access to a Parcel Register and Instrument Images – these documents can be used in conjunction with the property report to validate title information and dig deeper into any potential red flags on the property.  

As an official record of the Ontario government, a Parcel Register provides a comprehensive overview of a property, including:  

An Instrument Image can provide users with copies of the actual registered documents.  Depending on the nature of the instrument, these documents can often provide deeper insight into: 

PurView helps streamline lending workflows by bringing together property insights that support faster research, reduce manual processes, and helps lenders make more informed decisions. Instead of relying on multiple sources or time-consuming property searches, lenders can access key information, sales history, mortgage information, estimated property values and other property data all in one centralized location.  

With PurView, credit unions can also improve efficiency across the member lifecycle. Whether it’s validating property details during origination or reviewing equity opportunities during refinancing conversations, PurView helps lending teams spend less time gathering information and more time delivering personalized financial solutions to members.  

To learn more about how PurView can benefit your lending process, consider booking a personalized 1:1 demo with our dedicated experts.