CALGARY, April 26, 2017 /CNW/ - Clarocity Corporation (TSXV: CLY) (the "Company" or "Clarocity") today announced a top 10 Credit Union has selected Clarocity Corporation as a valuation solutions partner to provide MarketValue Pro appraisal and traditional appraisal products to support their home lending requirements.
"We're pleased to announce that one of the nation's largest credit unions, has selected Clarocity Corporation as a valuation provider," said Shane Copeland, CEO of Clarocity. "This is a key contract that we've been working on for some time. This client is unique in that it caters to a very high-technology membership base that's a perfect fit for MarketValue Pro. As an influential player in the credit union space, this will expose MVP to an essential key market segment on a nationwide basis."
MarketValue Pro (MVP) is a proprietary appraisal product powered by the Clarocity Technology Platform. MVP reports are designed to meet all the regulatory and compliance requirements of a traditional appraisal while leveraging automation, efficient workflow and reduced vendor costs to offer a highly effective next-generation appraisal report. MVP reduces client cost in time and money while providing valuation consistency and user friendly appraisals that are easily understood by credit union member borrowers.
"The Credit Union National Association estimates that credit unions funded nearly $500 billion in equity loans last year," said Bill Mohler, Chief Product Officer. "MarketValue Pro appeals to credit unions, because it greatly reduces member borrowing costs. As the equity market continues to heat up, having such an influential Credit Union client ensures we have the potential to grab significant market share in this key segment."
About Clarocity Corporation
Clarocity Corporation provides real estate valuation solutions and platform technologies designed to address today's dynamic housing market. Our innovative platform is driving the next-generation of valuation solutions such as MarketValue Pro (MVP) and BPOMerge and setting new standards in real estate valuation quality and reliability.
Every day GSE, banking, and investor clients rely on our proprietary solutions to value assets, fund loans, and securitize portfolios. As a fully integrated technology and valuation services company, Clarocity provides a full spectrum of appraisal and alternative valuation solutions. For more information, visit www.clarocity.com.
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.
This news 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, financial outlook, the purchase price payable in respect of the Proposed Acquisition, the negotiation of a definitive agreement in respect of the Proposed Acquisition, the expected closing date of the Proposed Acquisition and the receipt of applicable regulatory approvals including TSX Venture Exchange approval. Such statements are subject to risk factors associated with the real estate industry, the overall economy in both Canada and the United States. 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. 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.
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)
SOURCE Clarocity Corporation
For further information: visit www.clarocity.com or contact: Shane Copeland, CEO, Clarocity Corporation, 760-208-6460, [email protected]; Babak Pedram, Investor Relations, Virtus Advisory Group Inc., 416-644-5081, [email protected]