GlobeNewswire — Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) announced, in response to changes to the Fannie Mae Single Family Selling Guide released today (SEL-2022-03, April 6, 2022), that it offers a fully compliant alternative to title insurance through its Attorney Opinion Letter (AOL) program.
“The promise of technology has largely been lost in the mortgage industry and little has been done to reduce costs for consumers,” said Jim Albertelli, CEO of Voxtur. “Fannie Mae has identified closing costs as a barrier to homeownership. Our Voxtur AOL program immediately and directly reduces those costs, maybe opening the door to homeownership a little wider for more Americans.”
A Voxtur AOL provides an attorney’s opinion of title backed by transactional liability insurance that follows the loan into the secondary market and is issued by AM Best A Rated carriers. Provided in partnership with established real estate law firms in the industry, this product allows lenders to offer a low-risk alternative to title insurance that supports Fannie Mae’s housing goals.
These guideline changes represent a notable paradigm shift in support of more affordable homeownership. Voxtur’s AOL initiative marks the first time that attorney opinion letters have been produced with consistency and scale. This combination presents a unique opportunity for impactful change that will benefit consumers across the United States.
“Homeownership is one of the most effective ways to improve financial and social well-being,” said Stacy Mestayer, Chief Legal Officer of Voxtur. “By combining our VoxturVerified technology with an attorney work product, we can save the consumer a considerable amount in closing costs. For some, this could be an entire mortgage payment, which is meaningful.”
Voxtur currently offers AOL in select states, through strategic partnerships with lenders and service providers. The Company plans to make its Voxtur AOL available throughout the U.S. in the coming months.
For more information, visit our website at www.voxtur-aol.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 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.