Progress In Lending – Voxtur Analytics Corp., a technology company creating a more transparent and accessible real estate lending ecosystem, has announced a critical integration with MeridianLink, Inc., a provider of modern software platforms for financial institutions and consumer reporting agencies.
Through the partnership, Voxtur has officially become a single-integration company, offering clients access to its vast array of real estate technology products and services through a single point of entry on the OneVoxtur platform.
Now, clients can easily and seamlessly log in to the OneVoxtur portal to access services related to property valuation solutions, title and settlement products, and data-driven solutions.
“Voxtur’s integration with MeridianLink® takes customer service to the next level by enabling clients to better manage their workflow, easily navigating between one service and the other on a single platform with a single point of entry,” said Voxtur CEO Ryan Marshall. “For Voxtur clients, this will be a gamechanger, bringing unmatched efficiency to their business processes.”
Moreover, Voxtur clients will have access to its new pricing engine now available on the OneVoxtur platform, VoxturRateAdvisor, which compares traditional title to alternative title solutions to determine the best option. Launched in May, VoxturRateAdvisor enables users to easily identify the best product for their situation at the best possible price, and then move forward within the platform.
“Our mission has always been to bring the best, most advanced, most accessible real estate technology to the market,” said Marshall. “This integration with MeridianLink does exactly that. We know that saving clients time is saving clients money, and so we’re making access to Voxtur’s products straightforward and simple to help clients build in greater efficiencies.”
MortgageOrb –Voxtur Analytics Corp., a provider of real estate technology solutions, is now integrated with MeridianLink Inc., a provider of software platforms for financial institutions and consumer reporting agencies.
Through the partnership, Voxtur has become a single-integration company, offering clients access to its suite of real estate technology products and services through a single point of entry on the OneVoxtur platform.
Now, clients can log into the OneVoxtur portal to access services related to property valuation, title and settlement, and data-driven solutions.
“Voxtur’s integration with MeridianLink takes customer service to the next level by enabling clients to better manage their workflow, easily navigating between one service and the other on a single platform with a single point of entry,” says Ryan Marshall, CEO for Voxtur, in a release. “For Voxtur clients, this will be a game changer, bringing unmatched efficiency to their business processes.”
Moreover, Voxtur clients will have access to its new pricing engine now available on the OneVoxtur platform, VoxturRateAdvisor, which compares traditional title to alternative title solutions to determine the best option. Launched in May, VoxturRateAdvisor enables users to easily identify the best product for their situation at the best possible price, and then move forward within the platform.
“Our mission has always been to bring the best, most advanced, most accessible real estate technology to the market,” Marshall adds. “This integration with MeridianLink does exactly that. We know that saving clients time is saving clients money, and so we’re making access to Voxtur’s products straightforward and simple to help clients build in greater efficiencies.”
GlobeNewswire — Toronto, Ontario and Tampa, Florida — Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company”), is providing this bi-weekly status report in accordance with National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“). In its May 1, 2023 news release (the “Notice“), the Company announced the delay in the filing of its audited annual financial statements for its financial year ended December 31, 2022, the related management’s discussion and analysis, and certifications by the Chief Executive Officer and Chief Financial Officer of the Company (collectively, the “Required Filings“). The Ontario Securities Commission, as the Company’s principal regulator in Canada, granted a temporary management cease trade order (“MCTO“) on May 5, 2023.
In its May 15, 2023 news release (the “May 15 News Release”), the Company announced the delay in the filing of its interim financial statements for the period ended March 31, 2023, the related management’s discussion and analysis relating to the interim financial statements, and the related certifications by the Chief Executive Officer and Chief Financial Officer of the Company (collectively, the “Q1 2023 Filings“). Further information regarding the Required Filings and the Q1 2023 Filings can be found in the Notice and May 15 News Release.
Pursuant to NP 12-203, the Company must file bi-weekly status reports in the form of further news releases during the period from the Notice until the MCTO is revoked. The Company reports that since the May 15 News Release: (a) there have been no material changes to the information contained in the default announcement or subsequent default status reports that would reasonably be expected to be material to an investor; (b) there have been no failures by the Company to fulfill its stated intentions with respect to satisfying the provisions of the alternative information guidelines under NP 12-203; (c) there has not been any specified default subsequent to the default which is the subject of the default announcement; and (d) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
About Voxtur
Voxtur is a transformational real estate technology company that is redefining industry standards in a dynamic lending environment. The Company offers targeted data analytics to simplify tax solutions, property valuation and settlement services throughout the lending lifecycle for investors, lenders, government agencies and servicers. Voxtur’s proprietary data hub and workflow platforms more accurately and efficiently value assets, originate and service loans, securitize portfolios and evaluate tax assessments. The Company serves the property lending and property tax sectors, both public and private, in the United States and Canada. For more information, visit www.voxtur.com.
Forward-Looking Information
This news release contains certain forward-looking statements and forward-looking information (collectively, “forward-looking information”) which reflect the expectations of management regarding the Company’s strategic initiatives, plans, business prospects, and opportunities. Forward-looking statements should not be read as guarantees of future events, performance or results, and give rise to the possibility that management’s predictions, forecasts, projections, expectations, or conclusions will not prove to be accurate, that the assumptions may not be correct and that the Company’s future growth, financial performance and objectives and the Company’s strategic initiatives, plans, business prospects and opportunities, including the duration, impact of and recovery from the COVID-19 pandemic, will not occur or be achieved. Any information contained herein that is not based on historical facts may be deemed to constitute forward-looking information within the meaning of Canadian and United States securities laws. Forward-looking information may be based on expectations, estimates and projections as at the date of this news release, and may be identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions. Forward-looking information may include but is not limited to: the effects of unexpected costs, liabilities or delays; success of software activities; the competition for skilled personnel; expectations for other economic, business, environmental, regulatory and/or competitive factors related to the Company, or the real estate industry generally; anticipated future production costs; and other events or conditions that may occur in the future. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the information is provided. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information include but are not limited to: additional costs related to acquisitions; integration of acquired businesses; implementation of new products; changing global financial conditions, especially in light of the COVID-19 global pandemic; reliance on specific key employees and customers to maintain business operations; competition within the Company’s industry; a risk in technological failure, failure to implement technological upgrades, or failure to implement new technological products in accordance with expected timelines; changing market conditions; failure of governing agencies and regulatory bodies to approve the use of products and services developed by the Company; the Company’s dependence on maintaining intellectual property and protecting newly developed intellectual property; operating losses and negative cash flows; and currency fluctuations. Accordingly, readers should not place undue reliance on forward-looking information contained herein.
This forward-looking information is provided as of the date of this news release and, accordingly, is subject to change after such date. The Company does not assume any obligation to update or revise this information to reflect new events or circumstances except as required in accordance with applicable laws.
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Voxtur’s common shares are traded on the TSXV under the symbol VXTR and in the US on the OTCQB under the symbol VXTRF.
Contact: Jordan Ross Chief Investment Officer Tel: (416) 708-9764 jordan@voxtur.com
GlobeNewswire — TORONTO and TAMPA, Fla., May 18, 2023 (GLOBE NEWSWIRE) — Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company”), a North American technology company creating a more transparent and accessible real estate lending ecosystem, is pleased to announce the signing of an exclusive platform agreement with The Mortgage Collaborative (“TMC”), America’s largest independent cooperative network for the mortgage industry that includes both community banks and non-bank lenders. Voxtur will make available to over 250 TMC members its complete digital ecosystem to support the mortgage lifecycle. More specifically, Voxtur’s mortgage asset trading platform, Blue Water, will deliver a software-as-a-service (SaaS) solution to facilitate the purchase and sale of mortgage assets, including first mortgage agency whole loans, mortgage servicing rights, second liens, and non-QM mortgages. The Blue Water platform facilitates pricing, trading, reviewing, transferring, and funding of mortgage assets and portfolios in the secondary market.
“This is a tremendous opportunity for Voxtur, TMC, and its members,” said Gary Yeoman, CEO of Voxtur. “Our mortgage asset trading platform is built to deliver high volume trading and create efficient liquidity. We have successfully deployed similar platforms and I am confident that TMC and its members will realize value.”
As the market recovers, lenders need increased revenue and liquidity. For mid to small sized lenders with small servicing portfolios, operational friction and high costs result in reduced investor demand and opportunities. Further, smaller portfolios command lower proceeds which naturally disadvantages many originators and prohibits optimum liquidity. TMC can now provide its members with the most sophisticated, efficient, and unique platform for trading asset portfolios of any size. Blue Water’s all-digital trading solution verifies critical loan data, conducts a high-level review of underwriting and investor eligibility, and offers real-time exception remediation management to minimize underwriting risk and avoid costly rep and warrant claims. Blue Water’s data transfer application does not use sampling, but instead verifies every loan file, and does so at an attractive price point.
“This is a compelling use case for our members, and I expect that we will see meaningful adoption,” said David Kittle, Chairman of TMC. “These have been difficult times for so many of our members and this type of platform will provide tremendous value to support them in driving revenue and solving for liquidity needs at scale.”
The Blue Water-TMC platform is expected to go live within the next few weeks with a soft-launch at the Mortgage Bankers Association Secondary and Capital Markets Conference and Expo in New York early next week.
About The Mortgage Collaborative
Based in San Diego, California, the Mortgage Collaborative was founded in 2013 to empower mortgage lenders across the country with better financial execution, reduced costs, enhanced expertise and improved compliance, as well as helping members access the dynamic and changing consumer base in America. The cooperative is managed by its founding members, John Robbins, CMB; David Kittle, CMB; Gary Acosta, CEO of the National Association of Hispanic Real Estate Professionals (NAHREP); and Jim Park, former chair of the Asian Real Estate Association of America (AREAA). Robbins and Kittle are former chairmen of the Mortgage Bankers Association of America. For more information visit: http://www.mortgagecollaborative.com/ or contact tgalluci@mtgcoop.com
About Voxtur
Voxtur is a transformational real estate technology company that is redefining industry standards in a dynamic lending environment. The Company offers targeted data analytics to simplify tax solutions, property valuation and settlement services throughout the lending lifecycle for investors, lenders, government agencies and servicers. Voxtur’s proprietary data hub and workflow platforms more accurately and efficiently value assets, originate and service loans, securitize portfolios and evaluate tax assessments. The Company serves the property lending and property tax sectors, both public and private, in the United States and Canada. For more information, visit www.voxtur.com.
Forward-Looking Information
This news release contains certain forward-looking statements and forward-looking information (collectively, “forward-looking information”) which reflect the expectations of management regarding the Company’s strategic initiatives, plans, business prospects, and opportunities. Forward-looking statements should not be read as guarantees of future events, performance or results, and give rise to the possibility that management’s predictions, forecasts, projections, expectations, or conclusions will not prove to be accurate, that the assumptions may not be correct and that the Company’s future growth, financial performance and objectives and the Company’s strategic initiatives, plans, business prospects and opportunities, including the duration, impact of and recovery from the COVID-19 pandemic, will not occur or be achieved. Any information contained herein that is not based on historical facts may be deemed to constitute forward-looking information within the meaning of Canadian and United States securities laws. Forward-looking information may be based on expectations, estimates and projections as at the date of this news release, and may be identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions. Forward-looking information may include but is not limited to: the effects of unexpected costs, liabilities or delays; success of software activities; the competition for skilled personnel; expectations for other economic, business, environmental, regulatory and/or competitive factors related to the Company, or the real estate industry generally; anticipated future production costs; and other events or conditions that may occur in the future. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the information is provided. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information include but are not limited to: additional costs related to acquisitions; integration of acquired businesses; implementation of new products; changing global financial conditions, especially in light of the COVID-19 global pandemic; reliance on specific key employees and customers to maintain business operations; competition within the Company’s industry; a risk in technological failure, failure to implement technological upgrades, or failure to implement new technological products in accordance with expected timelines; changing market conditions; failure of governing agencies and regulatory bodies to approve the use of products and services developed by the Company; the Company’s dependence on maintaining intellectual property and protecting newly developed intellectual property; operating losses and negative cash flows; and currency fluctuations. Accordingly, readers should not place undue reliance on forward-looking information contained herein.
This forward-looking information is provided as of the date of this news release and, accordingly, is subject to change after such date. The Company does not assume any obligation to update or revise this information to reflect new events or circumstances except as required in accordance with applicable laws.
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Voxtur’s common shares are traded on the TSXV under the symbol VXTR and in the US on the OTCQB under the symbol VXTRF.
Contact: Jordan Ross Chief Investment Officer Tel: (416) 708-9764 jordan@voxtur.com
GlobeNewswire — Toronto, Ontario and Tampa, Florida – May 15, 2023 — Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company”), is providing this bi-weekly status report in accordance with National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“). In its May 1, 2023, news release (the “Notice“), the Company announced the delayed filing of its audited annual financial statements for its financial year ended December 31, 2022, the related management’s discussion and analysis, and certifications by the Chief Executive Officer and Chief Financial Officer of the Company (collectively, the “Required Filings“). The Ontario Securities Commission, as the Company’s principal regulator in Canada, granted a temporary management cease trade order (“MCTO“) on May 5, 2023. The Company is working closely with its auditors to complete the Required Filings by June 30, 2023.
As a result of the above referenced delay, the Company believes there will also be a delay in the filing of its interim financial statements for the period ended March 31, 2023, the related management’s discussion and analysis relating to the interim financial statements, and the related certifications by the Chief Executive Officer and Chief Financial Officer of the Company (collectively, the “Q1 2023 Filings“). The Company believes it will be able to file the Q1 2023 Filings by July 7, 2023.
Pursuant to NP 12-203, the Company must file bi-weekly status reports in the form of further news releases during the period from the Notice until the MCTO is revoked. The Company reports that since the Notice and except as noted above: (a) there have been no material changes to the information contained in the default announcement or subsequent default status reports that would reasonably be expected to be material to an investor; (b) there have been no failures by the Company to fulfill its stated intentions with respect to satisfying the provisions of the alternative information guidelines under NP 12-203; (c) there has not been any specified default subsequent to the default which is the subject of the Notice; and (d) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
About Voxtur
Voxtur is a transformational real estate technology company that is redefining industry standards in a dynamic lending environment. The Company offers targeted data analytics to simplify tax solutions, property valuation and settlement services throughout the lending lifecycle for investors, lenders, government agencies and servicers. Voxtur’s proprietary data hub and workflow platforms more accurately and efficiently value assets, originate and service loans, securitize portfolios and evaluate tax assessments. The Company serves the property lending and property tax sectors, both public and private, in the United States and Canada. For more information, visit www.voxtur.com.
Forward-Looking Information
This news release contains certain forward-looking statements and forward-looking information (collectively, “forward-looking information”) which reflect the expectations of management regarding the Company’s strategic initiatives, plans, business prospects, and opportunities. Forward-looking statements should not be read as guarantees of future events, performance or results, and give rise to the possibility that management’s predictions, forecasts, projections, expectations, or conclusions will not prove to be accurate, that the assumptions may not be correct and that the Company’s future growth, financial performance and objectives and the Company’s strategic initiatives, plans, business prospects and opportunities, including the duration, impact of and recovery from the COVID-19 pandemic, will not occur or be achieved. Any information contained herein that is not based on historical facts may be deemed to constitute forward-looking information within the meaning of Canadian and United States securities laws. Forward-looking information may be based on expectations, estimates and projections as at the date of this news release, and may be identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions. Forward-looking information may include but is not limited to: the effects of unexpected costs, liabilities or delays; success of software activities; the competition for skilled personnel; expectations for other economic, business, environmental, regulatory and/or competitive factors related to the Company, or the real estate industry generally; anticipated future production costs; and other events or conditions that may occur in the future. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the information is provided. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information include but are not limited to: additional costs related to acquisitions; integration of acquired businesses; implementation of new products; changing global financial conditions, especially in light of the COVID-19 global pandemic; reliance on specific key employees and customers to maintain business operations; competition within the Company’s industry; a risk in technological failure, failure to implement technological upgrades, or failure to implement new technological products in accordance with expected timelines; changing market conditions; failure of governing agencies and regulatory bodies to approve the use of products and services developed by the Company; the Company’s dependence on maintaining intellectual property and protecting newly developed intellectual property; operating losses and negative cash flows; and currency fluctuations. Accordingly, readers should not place undue reliance on forward-looking information contained herein.
This forward-looking information is provided as of the date of this news release and, accordingly, is subject to change after such date. The Company does not assume any obligation to update or revise this information to reflect new events or circumstances except as required in accordance with applicable laws.
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Voxtur’s common shares are traded on the TSXV under the symbol VXTR and in the US on the OTCQB under the symbol VXTRF.
Contact: Jordan Ross Chief Investment Officer Tel: (416) 708-9764 jordan@voxtur.com
GlobeNewswire — TORONTO and TAMPA, Fla., May 01, 2023 — Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company”), a North American technology company creating a more transparent and accessible real estate lending ecosystem, announced today the appointment of MNP LLP (“MNP”) as auditor of the Company, effective immediately. MNP is one of the largest full-service chartered professional accountancy and business advisory firms in Canada, with more than 100 offices across Canada. The reporting package relating to the appointment of MNP will be available on SEDAR (www.sedar.com) under the Company’s issuer profile within the time period prescribed by NI 51-102.
The Company also announced today that, further to its press release of April 3, 2023, it is unable to complete and file its audited annual financial statements (the “Statements”) for its financial year ended December 31, 2022, the related Management’s Discussion and Analysis, and Certifications by the Chief Executive Officer and Chief Financial Officer (collectively, the “Required Filings”). Under National Instrument 51-102 – Continuous Disclosure Obligations of the Canadian Securities Administrators, the Required Filings must be filed by May 1, 2023 (the “Deadline”). The Company experienced an unexpected delay in filing the Required Filings by the Deadline due to the resignation of its auditor, Marcum LLP (see April 3, 2023 press release of the Company).
The Company has applied to the Ontario Securities Commission (the “Principal Regulator”), as well as the securities regulatory authorities in each of the other Provinces and Territories of Canada other than Quebec, pursuant to National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”) for a Management Cease Trade Order (“MCTO”) as an alternative to a general Cease Trade Order in connection with the late filing (the “Default”) of the Required Filings. If the MCTO is granted, it will remain in effect until the Default is remedied. The issuance of a MCTO generally does not affect the ability of persons who are not directors, officers, or insiders of the Company to trade their securities.
The Company will endeavour to complete the Required Filings within sixty (60) calendar days following the Deadline.
The Company confirms that it will satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reports in the form of news releases for so long as it remains in default of the filing requirements described above.
The MCTO prohibits trading in securities of the Company, whether direct or indirect, by:
the Company’s Chief Executive Officer;
the Company’s Chief Financial Officer; and
the members of the board of directors of the Company or other persons or companies who had, or may have had, access directly or indirectly to any material fact or material change with respect to the Company that has not been generally disclosed.
Should the Company fail to make its Required Filings on or before July 1, 2023, the Principal Regulator can impose a cease trade order that all trading in securities of the Company cease for such period of time as the Principal Regulator may deem appropriate.
The Company has not taken any steps towards any insolvency proceeding and the Company confirms that there is no material information relating to its affairs that has not been generally disclosed.
About Voxtur
Voxtur is a transformational real estate technology company that is redefining industry standards in a dynamic lending environment. The Company offers targeted data analytics to simplify tax solutions, property valuation and settlement services throughout the lending lifecycle for investors, lenders, government agencies and servicers. Voxtur’s proprietary data hub and workflow platforms more accurately and efficiently value assets, originate and service loans, securitize portfolios and evaluate tax assessments. The Company serves the property lending and property tax sectors, both public and private, in the United States and Canada. For more information, visit www.voxtur.com.
Forward-Looking Information
This news release contains certain forward-looking statements and forward-looking information (collectively, “forward-looking information”) which reflect the expectations of management regarding the Company’s strategic initiatives, plans, business prospects, and opportunities. Forward-looking statements should not be read as guarantees of future events, performance or results, and give rise to the possibility that management’s predictions, forecasts, projections, expectations, or conclusions will not prove to be accurate, that the assumptions may not be correct and that the Company’s future growth, financial performance and objectives and the Company’s strategic initiatives, plans, business prospects and opportunities, including the duration, impact of and recovery from the COVID-19 pandemic, will not occur or be achieved. Any information contained herein that is not based on historical facts may be deemed to constitute forward-looking information within the meaning of Canadian and United States securities laws. Forward-looking information may be based on expectations, estimates and projections as at the date of this news release, and may be identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions. Forward-looking information may include but is not limited to: the effects of unexpected costs, liabilities or delays; success of software activities; the competition for skilled personnel; expectations for other economic, business, environmental, regulatory and/or competitive factors related to the Company, or the real estate industry generally; anticipated future production costs; and other events or conditions that may occur in the future. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the information is provided. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information include but are not limited to: additional costs related to acquisitions; integration of acquired businesses; implementation of new products; changing global financial conditions, especially in light of the COVID-19 global pandemic; reliance on specific key employees and customers to maintain business operations; competition within the Company’s industry; a risk in technological failure, failure to implement technological upgrades, or failure to implement new technological products in accordance with expected timelines; changing market conditions; failure of governing agencies and regulatory bodies to approve the use of products and services developed by the Company; the Company’s dependence on maintaining intellectual property and protecting newly developed intellectual property; operating losses and negative cash flows; and currency fluctuations. Accordingly, readers should not place undue reliance on forward-looking information contained herein.
This forward-looking information is provided as of the date of this news release and, accordingly, is subject to change after such date. The Company does not assume any obligation to update or revise this information to reflect new events or circumstances except as required in accordance with applicable laws.
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Voxtur’s common shares are traded on the TSXV under the symbol VXTR and in the US on the OTCQB under the symbol VXTRF.
Contact: Jordan Ross Chief Investment Officer Tel: (416) 708-9764 jordan@voxtur.com
GlobeNewswire — Toronto, Ontario and Tampa, Florida — Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company”), a North American technology company creating a more transparent and accessible real estate lending ecosystem, announced today the resignation of Joseph Murin as director of the Company, effective April 15, 2023.
The Company will not fill the vacancy resulting from Mr. Murin’s departure, as the Board believes the remaining directorship strikes an appropriate balance between promoting thoughtful dialogue and accountability while ensuring relevant and diverse experience.
“Joe Murin has faithfully served the Company through a critical period of transition and has made valuable contributions to the Board’s deliberations,” said Nick Smith, Chairman of the Board. “The Board and management are grateful for his service.”
The Board has appointed Ray Williams as Chair of the combined Governance and Nomination/Compensation Committee. Mr. Williams has served as a director of the Company since 2021.
The composition of the slate of proposed directors for election at the 2023 Annual Shareholder Meeting will continue to reflect the Board’s commitment to diversity, as the group of proposed directors will consist of a broad range of backgrounds, experiences, and talents. As a multinational business, the Company benefits from the perspectives of directors who bring crucial insights and deep understanding of the activities of the business in different jurisdictions.
About Voxtur
Voxtur is a transformational real estate technology company that is redefining industry standards in a dynamic lending environment. The Company offers targeted data analytics to simplify tax solutions, property valuation and settlement services throughout the lending lifecycle for investors, lenders, government agencies and servicers. Voxtur’s proprietary data hub and workflow platforms more accurately and efficiently value assets, originate and service loans, securitize portfolios and evaluate tax assessments. The Company serves the property lending and property tax sectors, both public and private, in the United States and Canada. For more information, visit www.voxtur.com.
Forward-Looking Information
This news release contains certain forward-looking statements and forward-looking information (collectively, “forward-looking information”) which reflect the expectations of management regarding the Company’s strategic initiatives, plans, business prospects, and opportunities. Forward-looking statements should not be read as guarantees of future events, performance or results, and give rise to the possibility that management’s predictions, forecasts, projections, expectations, or conclusions will not prove to be accurate, that the assumptions may not be correct and that the Company’s future growth, financial performance and objectives and the Company’s strategic initiatives, plans, business prospects and opportunities, including the duration, impact of and recovery from the COVID-19 pandemic, will not occur or be achieved. Any information contained herein that is not based on historical facts may be deemed to constitute forward-looking information within the meaning of Canadian and United States securities laws. Forward-looking information may be based on expectations, estimates and projections as at the date of this news release, and may be identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions. Forward-looking information may include but is not limited to: the effects of unexpected costs, liabilities or delays; success of software activities; the competition for skilled personnel; expectations for other economic, business, environmental, regulatory and/or competitive factors related to the Company, or the real estate industry generally; anticipated future production costs; and other events or conditions that may occur in the future. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the information is provided. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information include but are not limited to: additional costs related to acquisitions; integration of acquired businesses; implementation of new products; changing global financial conditions, especially in light of the COVID-19 global pandemic; reliance on specific key employees and customers to maintain business operations; competition within the Company’s industry; a risk in technological failure, failure to implement technological upgrades, or failure to implement new technological products in accordance with expected timelines; changing market conditions; failure of governing agencies and regulatory bodies to approve the use of products and services developed by the Company; the Company’s dependence on maintaining intellectual property and protecting newly developed intellectual property; operating losses and negative cash flows; and currency fluctuations. Accordingly, readers should not place undue reliance on forward-looking information contained herein.
This forward-looking information is provided as of the date of this news release and, accordingly, is subject to change after such date. The Company does not assume any obligation to update or revise this information to reflect new events or circumstances except as required in accordance with applicable laws.
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Voxtur’s common shares are traded on the TSXV under the symbol VXTR and in the US on the OTCQB under the symbol VXTRF.
Contact: Jordan Ross Chief Investment Officer Tel: (416) 708-9764 jordan@voxtur.com
GlobeNewswire — Toronto, Ontario and Tampa, Florida — Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company”), a North American technology company creating a more transparent and accessible real estate lending ecosystem, announced today that James “Jim” Albertelli will step down from his roles as Chief Executive Officer and director of the Company, effective April 13, 2023.
To fill the vacancy following Mr. Albertelli’s departure, the Company has announced the appointment of Executive Chairman Gary Yeoman as interim Chief Executive Officer. Mr. Yeoman has served as Executive Chairman of Voxtur since June 2021, having served as Chief Executive Officer of Voxtur prior to that date.
Further, the Company has announced the appointment of Nick Smith as Chairman of the Board of Directors. Mr. Smith is Managing Partner of Rice Park Capital Management LP (“Rice Park”). He has more than 25 years experience in Voxtur’s core markets and is a significant shareholder of the Company.
“We thank Jim for his contributions to Voxtur during his tenure as CEO,” said Gary Yeoman. “The Company remains focused on the continued roll out of Voxtur AOL (Attorney Opinion Letter), as well as creating and distributing new products leveraging our robust data assets. Furthermore, we will continue to integrate our expanding product base into Blue Water, the mortgage asset trading platform we acquired last year.”
“I want to express my gratitude to the Board of Directors, my executive team, and the employees of Voxtur,” said Jim Albertelli. “We have created a company that is well positioned for future growth. I remain an ardent supporter of the Voxtur vision and, as a large shareholder, wish for Voxtur’s continued success.”
“While the real estate and mortgage markets have suffered headwinds from the rise in interest rates, Voxtur has grown its revenue and has assembled a strategic set of businesses that are well positioned in the market,” said incoming Chairman Nick Smith. “The Company must now focus on the integration of its platforms and execution of its business plan. I am optimistic about the Company’s future growth prospects and its ability to produce profits.”
About Voxtur
Voxtur is a transformational real estate technology company that is redefining industry standards in a dynamic lending environment. The Company offers targeted data analytics to simplify tax solutions, property valuation and settlement services throughout the lending lifecycle for investors, lenders, government agencies and servicers. Voxtur’s proprietary data hub and workflow platforms more accurately and efficiently value assets, originate and service loans, securitize portfolios and evaluate tax assessments. The Company serves the property lending and property tax sectors, both public and private, in the United States and Canada. For more information, visit www.voxtur.com.
About Rice Park Capital Management
Rice Park Capital Management LP is a private investment firm managing funds and investment vehicles on behalf of institutional investors, family offices and high net worth individuals. Its investment focus is to deliver cycle-resistant returns to its limited partners by unlocking value in complex opportunities in the residential and commercial mortgage and real estate sectors. For more information, visit www.riceparkcapital.com.
Forward-Looking Information
This news release contains forward-looking statements that involve known and unknown risks, uncertainties and assumptions that may not be realized. These statements relate to future events or future performance and reflect management’s current expectations and assumptions which are based on information currently available to management. There is significant risk that forward-looking statements will not prove to be accurate. A number of factors could cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements discussed in the forward-looking statements. The inclusion of forward-looking statements and information should not be regarded as a representation of Voxtur or any other person that the anticipated results will be achieved, and investors are cautioned not to place undue reliance on such information.
These forward-looking statements are made as of the date of this news release and, accordingly, are subject to change after such date. Voxtur does not assume any obligation to update or revise this information to reflect new events or circumstances except as required in accordance with applicable laws.
Voxtur’s common shares are traded on the TSX Venture Exchange under the symbol VXTR and in the US on the OTCQB under the symbol VXTRF.
This article was written by Mike Senecal and originally appeared on badcredit.org
For all the uncertainties in the economy and the mortgage market, homeownership remains the surest path to building savings and net worth for most people. In other words, the adage that homeowners pay themselves rather than someone else is true.
Financial barriers to homeownership can be a significant deterrent to getting started and eventually seeing a mortgage through to completion. But knowledge is power — and understanding the sometimes arcane details helps first-time homebuyers set themselves up for success.
The most important thing to understand is that change doesn’t come easy in homebuying. Banks and other homebuying stakeholders sometimes do things in a certain way because that’s how they’ve always done them, even though technology and data access present modern alternatives to the status quo that can save buyers significantly.
Sometimes, financial stakeholders stick to the status quo because there’s money in it for them, so they have no incentive to change. While on the homebuyer’s side, saving on closing costs or lowering a property tax bill can make a huge difference.
That’s why a new company, Voxtur, is like a breath of fresh air for homebuying and mortgage consumers. Voxtur makes money on innovation by making homebuying more accessible and less expensive, not by perpetuating old ways of doing things.
Consumers who understand the various roles Voxtur plays in homebuying stand an excellent chance of coming out ahead during their purchase and throughout the time they hold their mortgage.
“You’d be amazed at the tremendous inefficiency still in the mortgage title and closing space,” said Jim Albertelli, Voxtur’s CEO. “Voxtur uses data and analytics to save money for consumers indirectly, through making the plumbing of the mortgage company better, as well as providing it upfront at the closing table.”
Title Insurance Alternative Reduces Closing Costs
Voxtur doesn’t work directly with consumers. Instead, it works across the lending landscape to find alternatives to legacy homebuying processes that can save consumers money.
After graduating from the Emory University School of Law in 1994, Albertelli created a real estate law practice that guided Fannie Mae, Freddie Mac, and Ginnie Mae, government-sponsored enterprises that enhance the flow of credit in the homebuying industry.
Fannie Mae and Freddie Mac purchase and combine mortgages to sell to lenders and investors as mortgage-backed securities. Ginnie Mae guarantees principal and interest payments on those securities. The three entities transact and guarantee about 80% of US home loans.
Title insurance is a particularly entrenched part of the system. A few large title insurance firms control the industry, backed by state regulations that often set rates. Title insurance firms perform deep search services to protect borrowers against defects in a title to a property, such as back taxes, liens, and conflicting wills.
As property values increase, traditional title insurance gets more expensive, even as data improves. The problem is that technology can accomplish the same thing for much less money.
Voxtur has leveraged its complete underwriting dataset based on multiple public data feeds and proprietary data to create Voxtur AOL™. This title insurance alternative, backed by authorization from Fannie Mae and Freddie Mac, can save consumers as much as a mortgage payment or more in closing costs.
Again — knowledge is power. When a mortgage originator sells to Fannie or Freddie, or Ginnie guarantees a VA loan, the AOL title alternative is a viable option.
“You can go to your lender and ask,” Albertelli said. “Consumers can get their rate bought down so they don’t pay as much interest over time, or take those savings of $1,000 or more at closing and spend it on other things.”
More Precise Home Valuations Save Property Taxes
Albertelli built several companies before Voxtur, including a mortgage lender and servicer and a closing and escrow firm.
“That gave me a unique position to see the difficulties of borrowers buying homes,” Albertelli said.
Of course, the problems don’t end after the buyer signs on the dotted line. Another area ripe for Voxtur innovation is property tax. Voxtur provides data and analytics to about two-thirds of US counties to help them create fairer tax assessments.
Gaining savings on property taxes is particularly relevant in the post-pandemic housing market. Mortgage rates are increasing, but home valuations aren’t declining as might be expected due to undersupply.
Voxtur helps about two-thirds of US counties produce fairer tax assessments.
Voxtur’s Real Property Tax Analytics provides lenders, investors, and homeowners transparency and insight into the accuracy of their most significant home operating expense.
In what’s known as escrow, mortgage lenders commonly arrange with buyers to collect taxes and insurance money every month as part of the house payment. That ensures timely payment of those taxes and stabilizes the loan arrangement, but the lender earns interest on escrow deposits.
The downside is the lender accepts the tax bills it receives from the government without question. Although the amount taken in escrow may be accurate, the assessment may not be.
“Wait a second — the mortgage servicers are making money on your money, but they’re not doing any analysis to make sure it’s correct,” Albertelli said. “They don’t shop for you.”
The gist is that lenders perform escrow services to reduce their risk, not the buyer’s. It behooves consumers to shop responsibly for more affordable insurance and to consult with lenders about the accuracy of tax assessments.
“At Voxtur, we’ve determined that about 10% of the population is overtaxed,” Albertelli said. “Find a data source like Voxtur and ask your title agent for a tax analysis.”
Making Homeownership More Affordable and Accessible
Overtaxed homeowners can usually appeal to the county for a reassessment. Although annual savings may be modest, year-over-year savings can be game-changing, and most jurisdictions protect homeowners against overlarge rate increases.
“The bottom line is when your escrow changes because your insurance or taxes increased, that might not be right,” Albertelli said. “You need to find someone knowledgeable to look at it.”
On the valuation front, Voxtur offers automated valuation methodologies that algorithmically analyze multiple data sources to arrive at more accurate appraisal values. With Fannie Mae moving away from its appraisal requirement, automated appraisals are on the horizon for more consumers.
Jim Albertelli, Voxtur CEO
“It means consumers are going to save money,” Albertelli said. “They’re not going to pay $1,000 or $500 for an appraisal, but maybe only $35 or $50 or $100.”
And when home loans go through a top wholesale lender, Voxtur-enabled direct appraisal technology eliminates the need for an appraisal management company to act as an intermediary, saving time and cost.
Voxtur also provides a comprehensive data suite to title insurance, mortgage, and real estate professionals and investors that help bring efficiencies from every stage of the homebuying process.
Every dollar is significant, Albertell argues. When he started as a prosecutor in Atlanta on an annual salary of $22,000, a few extra dollars made a lot of difference.
“A thousand bucks — that was real dough,” he said. “That was my rent and maybe my groceries.”
What he sees in the real estate world are decision-makers in the mortgage companies, taxing authorities, government-sponsored enterprises, and regulatory bodies who may need to catch up on the significance of a few thousand dollars to first-time homebuyers and homeowners trying to achieve their goals.
“I once heard a mortgage servicer ask who cares about saving $1,000,” Albertelli said. “Well, a lot of people care — that $1,000 is meaningful to real people every day.”
PROGRESS in Lending has recognized Jaclyn Palazzolo, Voxtur’s SVP of Default Operations, as a 2023 Next Gen Leader. The Next Gen Leader award highlights rising visionaries and thought leaders who have been in the mortgage industry for 15 years or less. The winners encompass a wide range of mortgage professionals with diverse skill sets that have one commonality: helping their companies make a difference for the good of the industry. Winners of the award are creative, out-of-the-box thinkers who go beyond what’s expected, are not afraid to step forward and blaze a new trail, and constantly offer bold new ideas.
Three years ago, Jaclyn began to research the use of Attorney Opinion Letters (AOLs) in lieu of title insurance. What began as a straight-forward task soon evolved into a massive project that not only reshaped the scope of Jaclyn’s work as SVP, Default Operations at Voxtur Analytics, but ignited in her a passion to improve the process of closing on a home loan. Jaclyn quickly became immersed in all things AOL, spending months painstakingly reviewing state-by-state requirements to draft letters particular to each state – a task only a lawyer could enjoy.
Jaclyn’s work allowed Voxtur to expand its AOL solution nationwide, making it available in all 50 states. Her work was critical to advancing Voxtur’s mission to address affordability concerns within in the mortgage industry by homing in on aspects of lending that could benefit from cost-cutting technology. And that’s exactly what the Voxtur AOL solution does. The Voxtur AOL combines the strength of a legal opinion with the efficiency and scalability of a data-driven title review. The results have been staggering, with Fannie Mae, Freddie Mac and the VA all guaranteeing their acceptance of the Voxtur AOL in lieu of title insurance in some situations – a major win for homeowners who could shave thousands of dollars off their closing costs. Key to the AOL’s success is its ability to seamlessly integrate into a lender’s existing process, something that Jaclyn has also had a hand in developing.
Jaclyn has been working closely with Voxtur IT to build this platform, AOL Ready, which creates an easy workflow for lenders and assists with questions related to everything from engaging attorneys to standardizing reviews to meet GSE guidelines. In effect, it will enable lenders to adopt AOLs with accuracy and at scale. As an attorney with an eye for detail and a knack for operational efficiency, Jaclyn has been a quiet force behind the AOL, navigating past roadblocks and steering the project toward success – and shaking up title industry’s old guard along the way.
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