Markham, ON Canada – January 07, 2009. DMTI Spatial (DMTI), Canada’s leading provider of Location Intelligence solutions, has announced that Genworth Financial Canada (Genworth), a leading financial services company, has successfully implemented the Location Hub® Master Address Management software within their Automated Underwriting System.
The Location Hub platform enables Genworth to significantly increase the number of times an address on a homebuyer’s mortgage default insurance application can be matched to its property assessment database improving both the speed and quality of the underwriting decision.
“The success of Genworth’s automated underwriting decisions is dependant on accurate address management to ensure that the property exists and is within market value,” said Peter Vukanovich, President Genworth Financial Canada. “DMTI’s unique technology has enabled us to reduce appraisal costs and increase customer service levels.”
“Having access to the national address reference data found in Location Hub allows companies to reduce costs and risk associated with false positive address matching,” said Alex MacKay, CEO, DMTI Spatial.
For more information on Location Hub visit: http://www.dmtispatial.com/hub/
About Genworth Financial Canada
Genworth Financial Canada, The Homeownership Company, works with lenders, mortgage brokers, real estate agents and builders to make homeownership more affordable and accessible throughout Canada. The company combines global experience in mortgage insurance with technological and service leadership to deliver innovation to the mortgage marketplace.
In addition to releasing two First-Time Homebuyer’s Monitor reports annually, Genworth Financial Canada also issues reports on Canada’s housing market and on Canada’s condo market. Our intention is to educate and provide useful information to consumers, homeowners, future first-time homebuyers and governments. We believe homeowners and homebuyers require up-to-date information about Canada’s housing market to make informed decisions about homeownership, for many the most important investment of their lifetime. Genworth Financial Canada also listens to homebuyers about their challenges and concerns, to make us better informed about how we can offer products that help Canadians realize the dream of homeownership.
Additional information about Genworth Financial Canada is available at www.genworth.ca, through www.homeownership.ca or through mortgage lenders.
About Genworth Financial
Genworth Financial, Inc. (NYSE:GNW) is a leading public Fortune 500 global financial security company. Genworth has more than $100 billion in assets and employs approximately 7,000 people in 25 countries. Its products and services help meet the investment, protection, retirement and lifestyle needs of over 15 million customers. Genworth operates through three segments: Retirement and Protection, International and U.S. Mortgage Insurance. Its products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth Financial, which traces its roots back to 1871, became a public company in 2004 and is headquartered in Richmond, Virginia. For more information, visit genworth.com.
About DMTI Spatial
DMTI Spatial has been providing industry leading enterprise location intelligence solutions for more than a decade to Global 2000 companies and government agencies. DMTI’s world-class Location Hub® platform uniquely identifies, validates and maintains a universe of location-based data. DMTI Spatial is the creator of market leading Mapping Solutions and maintains the gold standard for GIS location-based data in Canada.