A top mortgage bank and nonbank servicer will deploy Voxtur AOL™ in the first quarter to reduce closing costs for homebuyers.
GlobeNewswire — Toronto, Ontario and Tampa, Florida – January 10, 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, is pleased to announce that a top five mortgage servicer and top 20 bank will begin offering Voxtur AOL in the first quarter of 2023. Voxtur AOL is an alternative to title insurance that can save homebuyers 20% to 70% on the cost of title coverage, reducing closing costs by hundreds, if not thousands, of dollars.
By leveraging existing client relationships, Voxtur continues to gain momentum with the expansion of its Voxtur AOL, one of the only insured title insurance alternatives available on the market. With the addition of these large clients, the reach of Voxtur AOL continues to grow, benefitting even more U.S. homebuyers.
“We have access to better technology and data than ever before. The cost savings from these advancements have benefited lenders and service providers, while homebuyers are left to pay exorbitant closing costs,” said Voxtur CEO Jim Albertelli. “As more lenders realize the opportunity that Voxtur AOL presents to offer savings to their customers, Voxtur furthers its mission of reducing the cost of homeownership for more Americans.”
Using a patent-pending process, Voxtur AOL pairs the efficiency and scalability of a data-driven property review with the strength of a legal opinion. The result is a fully compliant Attorney Opinion Letter backed by transactional liability insurance that covers the full value of the loan for the life of the loan.
The use of AOL has been approved by Fannie Mae, Freddie Mac, and the Veterans Administration. Voxtur AOL is available nationwide through strategic partnerships with certain lenders and service providers. For more information, visit our website at VoxturAOL.com.
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.
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.
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Voxtur’s common shares are traded on the TSXV under the symbol VXTR and in the US on the OTCQB under the symbol VXTRF.
Chief Investment Officer
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