Common Questions / FAQs

Click on “Forgot your login? Click here for assistance” to the right of where you’d normally log in, and follow the system prompts. You’ll be able to receive a user ID reminder or password reset via email at the address you provided during registration.

The first time you log in to the new Purview application, you will be prompted to change your password if your old password does not meet the new security requirement. In addition, you will also be prompted to accept the End User License Agreement (EULA). You only have to accept the EULA once.

The End User License Agreement is the terms and conditions for using the product. As part of your subscription to the service, your company has already agreed to these terms and conditions. This window serves as confirmation that you have read and agree to the terms and conditions as outlined in the EULA.

Some new features that have been added to the new Purview include:

• New look and feel
• Google Maps™ Mapping Service integration
• Improved AVM accuracy
• Improved search technology
• Increased browser & mobility support
• Streamlined workflow

For more information on the new features, download the “New Features” document within the resources section.

Yes. To print your report you can:

1. Click the Print Report icon that is located at the top right of each Report
2. Use the File > Print option from your browser
3. Create a PDF document if you have access to a PDF writer

No. Purview is a web-based application. There is no install requirement.

Purview is a web-based automated valuation and fraud detection service designed for Canadian financial institutions, mortgage lenders, mortgage agents, mortgage brokers, property and title or mortgage insurers.

Based on a proven, precise and accurate Automated Valuation Model, Purview provides Subscribers with a single optimal AVM value based on property location and company risk policies.

Unique to only Purview is its customizability. Subscribers can tailor 14 valuation and 18 fraud check parameters in order to suit their company’s lending policies.

Purview Subscribers have access to property information including ownership, sale history, neighbourhood sales, comparables, and exterior, aerial, and bird’s eye view images.

Through Purview, Subscribers can conveniently access POLARIS Parcel Registers* and Instrument Images* for specific properties within the Province of Ontario.

* An official product of the Ontario government pursuant to provincial land registration statutes.

Purview is designed for Canadian financial institutions, mortgage lenders, mortgage agents, mortgage brokers, property, title or mortgage insurers, and real estate portfolio managers.

Ontario data is updated regularly from The Province of Ontario’s Land Registry Information System (POLARIS), which contains the most current and accurate land information available. Data provided outside of the Province of Ontario is facilitated through agreements with both municipal and city assessment offices and third-party providers.

Purview is currently available in Alberta, British Columbia, Manitoba, Ontario, Quebec, Newfoundland and Nova Scotia (Greater Halifax).

Geographic Coverage
Our services are available across Canada: British Columbia, Alberta, Manitoba, Ontario, Quebec, Newfoundland, and Nova Scotia (Greater Halifax) with the exception of Fraud Check, which currently is only available in Ontario.

In the Province of Ontario, Teranet has exclusive rights to POLARIS data pursuant to an agreement with the Government of Ontario. This exclusivity in turn allows for a data-enriched report. In general, ownership and mortgage information is only available in the Province of Ontario.

Fraud Checks, Sales History Reports, and Neighbourhood Sales Reports are also only available in the Province of Ontario.

Reports are generated in real time and available instantly.

Yes. Purview makes it easy to adjust the Fraud Check and AVM models to reflect your unique lending policies. Account administrators can customize both valuation and fraud models to your specific needs and add value and efficiency to your lending program.

Lenders and insurers can customize each of the 14 valuation parameters and 18 fraud check parameters to suit your company’s lending policies.

By customizing your models, you can tune Purview to address your specific requirements. This unique feature coupled with Purview’s configurable report views allows you to generate reports that zero in on the information that you need to know quickly.

If you are a lender or insurer and have a company that has created any custom Automated Valuation Models (AVM) or Fraud Check (FC) models in the old application, you will still have access to these models in the new application. Please note access to view, edit and adjust models is based on user rights.

Some common reasons for not finding a property are:

• Results are directly related to the accuracy of the search. If there is a misspelled name, incorrect address, incorrect LRO, or other missing or incorrect information, you may not receive the information you require.
• Searches in Ontario are run against the addresses associated with the POLARIS database. It could be that either the address you have been given or the address abstracted in the database is inaccurate. Tip: If you know the property owner’s name, try searching by name.
• In Ontario there may not be an address in POLARIS associated to the property.
• In Ontario addresses are not always abstracted in the POLARIS database for condominiums. Tip for when searching for a condo property: first try starting your search with the street number, then street name. If it is not found, start your search again with the unit/suite number first, then the street name.
• In Ontario, if the property is a Lot or part of a Lot within a new subdivision, the address will not be available in POLARIS until the Lots are first transferred.

• The property is not a residential property
• The property is located in a rural area with little to no sales activity
• The property is located in an area with little to no sales activity of like properties
• There is insufficient sales data available on the subject property
• There is insufficient comparables available as of the sale date
• There is insufficient comparables available as of the valuation date

In the Province of Ontario, Teranet has exclusive rights to POLARIS data pursuant to an agreement with the Government of Ontario. This exclusivity in turn allows for a data-enriched report including ownership and equity information.

Google is our sole source provider of all street view and aerial imagery in Purview for Lenders. Google compiles information from many sources to bring you the best results, however, there may be instances where an image might not be available, is unclear, or is simply an approximation.

An Automated Valuation Model (AVM) is a mathematically based computer program that produces an estimate of market value of a residential property based on analysis of public record data, property location, market conditions, and real estate characteristics at a specified date.

Typically, the street address of the subject property is entered as input into the AVM system. The system in turn identifies the property, checks its location, size and other key features, and searches its systems database for the best set of comparables or indices to generate a value for the subject property.

Advantages to using an AVM include:

• Inexpensive when compared to appraisals, which can cost in excess of $200
• Time savings. AVMs are generated instantly and in real time therefore significantly decreasing the application cycle time
• Cost effective. Coupled with integrated fraud detection tools, AVMs performed during the front end minimize needless administration expenses.
• Optimize the use of Appraisals. AVMs can flag potential risks and help to determine the extent of further due diligence.
• Convenience. AVMs are accessible through the web and are displayed quickly and often available 24 hours a day. Stored configurations and simple design allow for rapid display of results in one convenient Report.
• AVMs are objective. No opinion or exceptions are possible. Valuations cannot be swayed or influenced by emotions or personal prejudices.

Valuations play a significant role in the lending process by assisting mortgage lending financial institutions throughout different stages within the lifecycle of a mortgage.

• AVMs are commonly used by some lenders where the loan to value ratio is not high and to support most home equity loans (e.g. line of credit or second mortgage based on existing property owner home equity) and during the preapproval stage, valuations determine the viability of the mortgage application at the time the loan is processed.
• During the collateral adjudication stage, valuations and integrated fraud checks help to assess collateral risk related to the mortgage.
• Post funding, lenders use valuations to provide an ongoing value assessment of their overall lending portfolio (book).
• During the course of servicing a loan, valuations help a lender to determine the client’s available equity and potential for other home equity products.

• An AVM’s primary advantage over a traditional appraisal is that it saves both time and money.
• An AVM is unbiased versus human bias, which can occur with an appraisal. An AVM cannot commit fraud or make mistakes with calculations.
• An AVM does not replace a full appraisal since an appraisal, unlike an AVM, does take into account the external and internal condition of the property.
• Depending on the situation, an AVM can be used to replace, supplement, and/or audit the traditional appraisal process.

There are recommended tests for evaluating residential AVMs. These include:

• Hit Rate: The number of times the AVM will return a result for a given population sample.
• Comparison of AVM Output to the Actual Sale Price: The comparison of the AVM return for the subject property and the recent sale transaction of the subject property.
• AVM Percentage Error: The difference between the AVM return for a sold property and sale price, expressed as a percentage of the sale price.

Automated valuation may be based on one model or the combined outputs of multiple models. The most common types include:

• Price Indices: Multiple repeat sales are used to create and establish house price indices for a specific geographic area. This index is then applied to a past transaction price or valuation of the subject property to provide a current valuation.
• Hedonic: Largely based on statistical models using some form of linear regression. Property attributes such as location, property size, and nature of improvements are data requirements of this model type. Essentially, the attributes of a subject property are compared with other comparable properties using a radius search pattern or other logical search parameters, over a pre-determined time period.
• Tax-Assessed Value Model: The current market value is estimated by updating the valuation assessed for tax purposes at a past date. The statistical relationship between past assessed values and subsequent price data is measured to create a ratio which is then applied to update the assessed values.

The Purview Report is a real time estimate of the value of the subject property at a user specified date. The Purview Report is a comprehensive report that includes 14 valuation and 18 fraud queries that check for indicators of suspicious activity on the specific property.

The Report provides users with a summary for each applied Valuation and Fraud Check*. In addition, the Report includes the property address, legal description, ownership and mortgage information, neighbourhood statistics, and comparable sales – all enhanced with street view and aerial imagery.

*Fraud Check is only available to lenders and insurers

The Valuation Report is a real-time estimate of the value of the subject Property at a user specified date. The Valuation Report includes 14 configurable valuation queries that control how the estimate is generated. The Report provides users with a summary for each applied Valuation parameter. In addition, the Report includes the property address, legal description, ownership information, neighbourhood statistics, comparable sales, and street view and aerial imagery.

The Fraud Check Report is a real-time fraud check of the subject Property. The Fraud Check Report includes 18 configurable queries that check for indicators of suspicious activity on the specific property. The Report provides users with a summary for each applied Fraud parameter. In addition, the Report includes property address, legal description, ownership information, neighbourhood statistics, comparable sales and street view and aerial imagery. Fraud Check is only available to lenders and insurers.

The Neighbourhood Sales Report enables you to search for comparable sales in a particular area. This report details the sales in the neighbourhood in which the subject property is located. You can perform a search by radius, sales timeframe and price range. Reports also include an aerial view of each comparable property.

The Sales History Report provides a historical view of all the sales on record for that Subject Property. For each sale on the subject property, this report will provide the registration date, sale price, transfer type and party to information (where available).

A record containing property description and list of instruments registered against the property within the Land Registration System of Ontario as of the date of search. A Parcel Register is a real time, up-to-date report for a property.

A Parcel Register is an official product of the Ontario government pursuant to provincial land registration statutes.

Image of a registered document within the Land Registration System of Ontario. Instruments may include liens, mortgages, transfers and condominium declarations, among others. Subscribers to Purview must know the Instrument Number in order to order and view an Instrument Image.

An Instrument Image is an official product of the Ontario government pursuant to provincial land registration statutes.