Voxtur to Provide Opinion Letters to Lawyers on Fannie Mae Loans
TORONTO and TAMPA, Fla., April 07, 2022 (GLOBE NEWSWIRE) — Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company”), a North American technology company building a more transparent environment and accessible mortgage lending ecosystem, has announced, in response to changes to the Fannie Mae Single Family sale released today (SEL-2022-03, April 6, 2022), that it offers a fully compliant alternative to title insurance through its Legal Notice Letter Program (AOL).
“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 home ownership. Our Voxtur AOL program immediately and directly reduces these costs, perhaps opening the door a little more to home ownership for more Americans.
A Voxtur AOL provides an attorney’s opinion on title, backed by transactional liability insurance that tracks the loan in 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 enables lenders to offer a low-risk alternative to title insurance that supports Fannie Mae’s housing goals.
These changes to the guidelines represent a significant paradigm shift in favor of more affordable homeownership. Voxtur’s AOL initiative marks the first time that attorney op-eds 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, Voxtur’s Chief Legal Officer. “By combining our VoxturVerified technology with an attorney’s work product, we can save the consumer a significant amount in closing costs. For some, that could be a full mortgage payment, which is significant.
Voxtur currently offers AOL in select states, through strategic partnerships with lenders and service providers. The company plans to make its Voxtur AOL available across the United States in the coming months.
For more information visit our website at www.voxtur-AOL.com.
Voxtur is a transformational real estate technology company redefining industry standards in a dynamic lending environment. The company offers targeted data analytics to simplify tax solutions, property valuation and settlement services across the loan lifecycle for investors, lenders, government agencies and service providers. Voxtur’s proprietary data hub and workflow platforms more accurately and efficiently value assets, originate and service loans, securitize portfolios, and assess tax valuations. The Company serves the real estate lending and property tax industries, both public and private, in the United States and Canada. For more information, visit www.voxtur.com.
This press release contains forward-looking statements and forward-looking information (collectively, “Forward-Looking Information”). Any information contained herein that is not based on historical facts may be considered 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 of the date of this press release, and may be identified by the words “may”, “could”, “should”, “will”, “have the ‘intend’, ‘plan’, ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’ or similar expressions. Forward-looking information may include, but is not limited to: the Company’s expected financial performance and other events or conditions that may occur in the future. Investors are cautioned that forward-looking information is not based on historical fact but rather reflects estimates or projections regarding future results or events based on management’s beliefs, assumptions and estimates believed to be reasonable as of 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. 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 guidance related to updates to Fannie Mae’s guidelines; additional costs related to acquisitions; changing global financial conditions, particularly in light of the global COVID-19 pandemic; dependence on specific key employees and customers to maintain business operations; competition within the Company’s industry; risk of technology failure or failure to implement technology upgrades; the Company’s dependence on maintaining intellectual property; operating losses and negative cash flows; and currency fluctuations. Accordingly, readers should not place undue reliance on the forward-looking information contained herein.
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Voxtur’s common shares trade on the TSX Venture Exchange under the symbol VXTR and in the United States on the OTCQB under the symbol VXTRF.
Stacy Mestayer | Legal council