CALGARY, May 19, 2016 /CNW/ - Zaio Corporation (TSXV: ZAO) (the "Company" or "Zaio") is pleased to announce that it has engaged Morningstar Credit Ratings to assign their residential vendor ranking for its U.S. subsidiary Valuation Vision, Inc.
"Morningstar's residential ranking is a recognized standard for measuring valuation vendor performance," said Shane Copeland, CEO of Zaio Corporation. "We believe that in today's tough regulatory environment, a Morningstar ranking will confirm our commitment to providing high-quality asset valuations for rated transactions which will allow Valuation Vision to expand further into the expanding mortgage securitization space."
Morningstar Credit Ratings' operational risk assessment for vendors establishes a new standard for vendors who want to demonstrate a commitment to quality service and their ability to meet or exceed their client's mission critical performance objectives.
"We believe that our processes and technology have enabled Valuation Vision to continuously lead in client performance scoring," said Aleksandra James, Chief Operating Officer of Valuation Vision. "We look forward to Morningstar providing their third-party perspective, ensuring that we continue to maintain a high level of vendor performance."
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 evaluations prepared by licensed appraisers across the United States. Visit the company online at zaio.com.
Neither the 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 does not constitute an offer to sell or a solicitation of an offer to buy and 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.
Certain information in this press release is forward-looking within the meaning of Canadian securities laws as it relates to anticipated events and strategies. When used in this context, words such as will, anticipate, believe, plan, mandated, intend, target, and expect or similar words suggest future outcomes.
Forward-looking information in this press release, includes, among other things, information relating to: any applicable approvals required in order to complete the consolidation, subdivision and/or name change, which may include, but is not limited to, the approval of the TSX Venture Exchange and approval by the shareholders of Zaio.
These statements are based on certain assumptions and analyses made by the Company in light of its experience, current conditions and expected future developments and other factors it believes are appropriate. The material factors and assumptions used to develop these forward-looking statements include, but are not limited to the ability of the Company to obtain regulatory and shareholder approvals.
Readers are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purpose of providing information about management's current expectations, and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Zaio does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in Zaio's expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
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]