GlobeNewswire — TORONTO and TAMPA, Fla., June 06, 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, announced today an exclusive, strategic partnership with one of the largest FHA and VA lenders in the United States to implement Voxtur’s mortgage asset trading platform, Blue Water’s new Correspondent-as-a-Service (“CaaS”) platform. More specifically, CaaS is a rules-based transaction platform that facilitates pricing, commitment, transfer and transaction of whole loans and mortgage servicing rights (“MSR”) with a single click. The system also comes bundled with Blue Water’s patent-pending, loan-level pricing engine, an order management and allocation system, and an ability to seamlessly route mortgage assets to various investors based on their eligibility, pricing, and document requirements.
Through a multi-year, exclusive agreement, Voxtur will serve as the operating platform for pricing, trading, and transacting mortgage assets. With Blue Water’s CaaS technology, the lender will now be able to issue bids and deliver commitments seamlessly through an integrated platform that interacts with more than 400 mortgage originators.
“This is a key strategic relationship for Blue Water and therefore, for Voxtur. The scale and reach of this client are broad and deep across the industry. By providing liquidity and price transparency through this platform, we expect to be able to offer additional Voxtur solutions, making it a single point of contact for the client,” said Al Qureshi, President of BlueWater, Voxtur’s capital markets business line. “We just added hundreds of additional mortgage originators to our platform. Those are sellers using our software who are also hungry for efficiency and liquidity. We are well-positioned to meet their needs and can provide a suite of services designed to elevate their processes. This is an exciting development for all parties involved.”
Further, Voxtur plans to expand the CaaS platform to include additional mortgage asset classes and leverage this partnership to deliver primary mortgage market solutions available from Voxtur’s diverse suite of products, including Voxtur’s AOL title insurance alternative, automated valuation solutions, and on-demand underwriting. This will create a single point of access for these mortgage originators to connect with one of the largest mortgage investor bases in the United States and will, in turn, give Voxtur exposure to a significant number of additional mortgage originators.
“We are gaining market share and attachment points to move not just our secondary market-related products forward, but also our cutting-edge primary market solutions,” said Gary Yeoman, Voxtur’s CEO. “We are gaining traction with these core product offerings and creating a natural runway for adoption by our origination and investment customers. I expect to see these synergies manifest through deliberate execution and expect them to create meaningful value.”
About Blue Water Financial Technologies
Blue Water is a leading provider of asset valuation, MSR distribution, MSR hedging, and digital solutions to MSR investors and mortgage lenders. By providing originators and investors the ability to view portfolios and analyze transactional data in real-time, the platform creates a one-stop shop to drive greater liquidity of mortgage assets. Blue Water uses a single platform across all investor types to mitigate timing risk and account for rate changes. Further, cost-minded originators use the platform to reduce margin exposure, lower costs, and streamline their secondary market post-close operations. Blue Water’s self-service technology can replicate any investor pricing and modeling construct in real time to provide a unique solution tailored to its clients, including private equity investors and investment banks. Blue Water offers a turnkey solution to small financial institutions to source assets in a compliant manner with scale and efficiency. Blue Water manages a dynamic order book that allows systemically important financial institutions (SIFIs) to engage with different originators in a user-friendly asset sourcing SaaS offering. This technology allows a broad investor base to dynamically engage with originators and control their prospects based on asset preference, while giving originators free access to buyer-side liquidity. Separately, Blue Water’s automated advisor platform provides a springboard for investors to source product and deploy capital by leveraging the combined entities comprehensive services. For more information, visit www.bluewater-fintech.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.
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