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CALGARY, April 21, 2014 /CNW/ - Zaio Corporation (TSXV: ZAO), ("Zaio" or "the Company"), is pleased to announce the launch of a new alternative appraisal product solution, GEAR™ AP (GeoScore™ Evaluation/Appraisal Report). Built from the ground up leveraging Zaio's patented GeoScoring™ methodology and Valytics™ platform, GEAR was designed to meet Interagency guidelines as an Evaluation as well as USPAP requirements as an Appraisal Report.
"GEAR AP is a culmination of our long term strategy to leverage our patented GeoScore data, platform technologies, and nationwide appraisal services to create innovative, cost-effective valuation solutions," said Dave King, President and CEO of Zaio Corporation. "This all dovetails with the acquisition strategies of Valuation Vision and AXIS Appraisal Management to meet the increasing demand for alternative appraisal products."
GEAR AP reports are available both as a desktop or exterior inspected product, and are generally more cost-effective than a traditional appraisal. Much like an appraisal, the local appraiser performing the valuation provides the exterior inspection. The appraiser utilizes Valytics to analyze comparables and complete the final report. The final valuation report is designed to address the growing demand for HELOC, servicing, securitization and other applications as outlined in the 2010 Interagency guidelines.
GEAR™ is the first in a series of products designed and developed jointly leveraging Valuation Vision's proprietary Order Management Platform. AXIS Appraisal Management plays a critical role by providing nationwide distribution necessary to meet the needs of lenders. The acquisition of Valuation Vision and AXIS Appraisal Management Solutions will fulfill the long term strategy of developing innovative data-driven valuation solutions to market.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Zaio Corporation
Zaio provides customers in the property valuation, underwriting and lending industries with real-time access to certified appraisal reports from the company's patented database of proactively maintained residential property valuations prepared by licensed appraisers across the United States. Visit the company online at zaio.com.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.
This press release contains forward-looking statements, including: (i) closing of the Valuation Vision transaction; (ii) completion of due diligence and entering into a definitive agreement with Axis; and (iii) projected revenues resulting from the acquisition of Valuation Vision and Axis. The Company believes that the expectations reflected in this news 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, including risks that: (i) a definitive agreement is not made with Axis and the transaction does not close; (ii) the Valuation Vision transaction does not close; and (iii) or that regulatory approval for the respective transactions is not obtained. 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.
SOURCE: Zaio Corporation
For further information: visit zaio.com or contact: David King, President & CEO, Zaio Corporation, 403-984-ZAIO, firstname.lastname@example.org; Babak Pedram, Investor Relations, Virtus Advisory Group Inc., 416-995-8651, email@example.com