CALGARY, March 30, 2016 /CNW/ - Zaio Corporation (TSXV: ZAO) (the "Company" or "Zaio") announces that its U.S. subsidiary Valuation Vision, Inc. has just received positive results as part of it's 2015 BPOMerge™ performance review with a major U.S. loan servicer.
"We recently received a performance review from a large national client and our Valuation Vision products ranked number 1 among 4 competitors," stated Shane Copeland CEO of Zaio Corporation. "Our client compared the values we provided with our BPOMerge product against thousands of properties they subsequently sold in 2015. BPOMerge dominated the competition in key performance indicators measuring the credibility of values indicated."
BPOMerge was scored against competing valuation products in the largest sample to date, and led the results in two out of the three categories:
- On overall accuracy, BPOMerge led the pack with an average of 99% value estimate versus sale price. The competitors in the study performed at 89%, 93%, and 105% respectively
- When looking at individual properties, BPOMerge led with 80% of value estimates falling within the client's expectations of accuracy benchmark. Competing products performed at 73%, 57%, and 53% respectively
- In terms of overall service delivery performance, Valuation Vision ranked second against the competition with an overall average turn time of 8.7 days, having missed the top rung by less than 2 hours. Other competing turn times for single-opinion products were as high as 18.3 days
"The results of this performance review confirm that BPOMerge's multi-opinion approach and proprietary technology delivers extraordinarily credible valuation results," said Ernie Durbin, Chief Valuation Officer. "What's exceptional here is the measurement against end sale price. There is no better way to measure the credibility of a valuation product than to stand up against the price the property ultimately sells for. After analyzing thousands of properties, we are proud to say BPOMerge ranked number 1 among our competitors, including appraisals performed on many of the same properties."
About Zaio Corporation
Zaio Corporation was founded on the simple premise that current real estate valuation technologies lacked the information and technology necessary to deal with today's dynamic housing market. Zaio is disrupting an industry that was once thought not possible through its proprietary valuation solutions. Every day our GSE, banking, and investor clients rely on our proprietary solutions to fund loans and value assets. At Zaio, our mission is to ensure that our solutions provide businesses and consumers unparalleled insight into their real estate assets. For more information, visit www.zaio.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 and financial outlooks. Such statements are subject to risk factors associated with the real estate industry, the overall economy in both Canada and the United States. Forward-looking information in this press release, includes, among other things, information relating to any applicable approvals required in order to complete the Financing, which may include, but is not limited to, the approval of the TSX Venture Exchange and approval by the shareholders of Zaio. 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 Zaio Corporation
For further information: visit www.zaio.com or contact: Shane Copeland, CEO, Zaio Corporation, 760-208-6460, [email protected]; Phil Wazonek, President & COO, Zaio Corporation, 403-819-5449, [email protected]; Babak Pedram, Investor Relations, Virtus Advisory Group Inc., 416-644-5081, [email protected]