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 certification and insurance of Voxtur’s
mortgage asset due diligence solution by certain underwriters at
Lloyds of London.
This bespoke policy covers losses in the event
of material errors resulting in a breach of a representation or
warranty for mortgage assets, including but not limited to
individual mortgages and/or mortgage servicing rights (“MSR”),
transacted on the platform.
More specifically, this insurance is provided to
Voxtur’s capital markets division, its wholly owned subsidiary Blue
Water Financial Technologies LLC (“Blue Water”), as an add-on to
Blue Water’s existing all-digital pre-close, pricing, trading,
transfer, and quality control services. With investor buyback
demands increasing, Blue Water’s clients will benefit from this
additional protection.
“With this added third-party offering, our
customers will benefit from an insurance wrap. Originators looking
to sell their MSRs can rely on this service knowing that their
product has been thoroughly reviewed and that process in turn is
insured,” said Al Qureshi, President of Blue Water.
“Furthermore, for our investor clients looking
to purchase loans, this certification means that they can diligence
100% of a given loan or MSR portfolio knowing that that process is
also insured,” Qureshi added.
The trading environment for MSRs is currently
running at a very brisk pace, with both large and small financial
institutions packaging MSR purchases often to sell outright to
investors or to bundle into other structured investment vehicles,
such as within a private placement format. MSRs are popular
investments among individual investors, private equity and
sovereign wealth funds.
Representation and warranty-related buybacks
constitute a notable risk to these transactions and are, therefore,
currently top concerns for players in the space. The addition of
insurance to the Blue Water due diligence offering provides the
unique product with the ability to hedge the very meaningful reps
and warrants risk in the MSR market and at a very compelling price
point.
“Achieving this level of credibility and
reliability for our clients in a market that is extremely
risk-averse is to be commended,” said Gary Yeoman, CEO of Voxtur.
“The Blue Water platform and the team have passed those rigorous
requirements needed to obtain this one-of-a-kind policy,” he
added.
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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