TORONTO and TAMPA, Fla., May 18, 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, 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 Ross
Chief Investment Officer
Tel: (416) 708-9764
jordan@voxtur.com
