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 "forward-looking
information" within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, but is not
limited to, statements with respect to the MCTO and the filing of
the Required Filings. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
the Company, as the case may be, to be materially different from
those expressed or implied by such forward-looking information.
Such risks, uncertainties and other factors include, but are not
limited to the ability of the Company to successfully launch the
Blue Water-TMC platform; the adoption by TMC members of the
platform; and general business, economic, competitive, political
and social uncertainties. Although the Company has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
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 RossChief Investment Officer Tel: (416)
708-9764jordan@voxtur.com
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