Assuming it's the 'Allows the null value' that you find undesirable, use a UNION. The first SELECT chooses all the rows that match, which will set the NOT NULL property for you. The second SELECT chooses all the rows that don't have a match - you provide filler fields for those.
CREATE VIEW TRANSV01 AS (
SELECT TRANSID ,
MBRID ,
MBRNAME ,
MBRSURNME
FROM TRANSPF
--Member Name
JOIN MBRPF on MBRID = MBRID
UNION
SELECT TRANSID ,
MBRID ,
CAST('') as Char(20)) ,
CAST('') as Char(25))
FROM TRANSPF
--Member Name
EXCEPTION JOIN MBRPF on MBRID = MBRID
) RCDFMT TRANSR;