National online mortgage broker selects Zaio



    SCOTTSDALE, AZ, June 17 /CNW/ - Zaio, Inc. the U.S. Subsidiary of Zaio
Corporation (TSX-V: ZAO), announces a new customer relationship with a
national online mortgage broker to supply a variety of appraisal related
services. Under new policies announced by Fannie Mae and Freddie Mac, mortgage
brokers across the country are required to change the way they order and
process appraisals. Beginning in January 2009, brokers will no longer be
allowed to directly engage or hire the appraiser in a mortgage transaction.
    "Zaio's technology allows mortgage brokers and the lending community to
immediately comply with new secondary market requirements," states Jim
Kirchmeyer, Chief Marketing Officer. "Our track record of strategic
partnerships continues to grow. Zaio's technology helps mortgage brokers,
national banks, credit unions and other mortgage related institutions obtain
higher levels of quality and improved efficiencies in the appraisal and
collateral valuation processes." Zaio's unique process and its national
network of more than 10,000 local expert appraisers ensure that the
independence of appraisers is protected, consistent with the main focus of the
new policies.
    The new policies of Fannie Mae and Freddie Mac are scheduled to become
effective January 1, 2009 but the mortgage industry and financial institutions
have already started to prepare for the transition. According to industry
reports, online mortgage originations totaled approximately $105 billion in
Q1 2008.

    About Zaio

    Zaio is a technology and database company. A network of Zaio related
appraisers currently serve hundreds of lenders with a variety of appraisal
services nationwide. Zaio maintains a secure database of 140 million
properties and its affiliated appraisers are now site verifying property data,
photos and appraisals of virtually every property in America. Zaio's network
of local appraiser experts appraise entire cities, one building at a time
using a proprietary "GeoScore(TM)" rating system. Additional information is
available under the symbol "ZAOFF".

    For investors who would like to be added to Zaio's investor distribution
list or receive a 2007 Annual Report, please contact Lisa Lyscio at
llyscio@zaio.com.

    The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release. This press
release contains forward-looking statements which may include financial and
business prospects, as well as statements regarding the Company's future
plans, objectives or economic performance and financial outlooks. Such
statements are subject to risk factors associated with the real estate
industry, and the overall economy in both Canada and the United States. The
Company believes that the expectations reflected in this press release are
reasonable, but actual results may be affected by a variety of variables and
may be materially different from the results or events predicted in the
forward-looking statements. Readers are therefore cautioned not to place undue
reliance on these forward-looking statements.
    In evaluating forward-looking statements readers should consider the risk
factors which could cause actual results or events to differ materially from
those indicated by such forward-looking statements. These forward-looking
statements are made as of the date hereof, and unless otherwise required by
applicable securities laws, the Company does not intend nor does it undertake
any obligation to update or revise any forward-looking statements to reflect
subsequent information, events, results or circumstances or otherwise.

    %SEDAR: 00020572E




For further information:

For further information: For more company information, visit
www.zaio.com or please contact: Thomas J. Inserra, Chief Executive Officer,
(480) 575-5111; Don Kelly, Chief Communications Officer, (202) 302-3870

Organization Profile

Zaio Corporation

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890