TSX Venture Exchange Symbol: ZAO
CALGARY, Nov. 17 /CNW/ - Zaio Corporation ("Zaio" or the "Corporation"), (TSX-V: ZAO) is pleased to announce it has engaged Nasoft USA, an IT Professional Services company focused in the Real estate finance industry, to further the development of its patent pending valuation database technology ("valuation database").
Brad Stinson, CEO of Zaio Corporation stated: "Our decision was based on Nasoft USA's proven expertise with appraisal management technology, and the strategic positioning of the appraiser-driven valuation database, within the current lending arena."
To streamline a lender's appraisal supply chain, Loan Origination Systems ("LOS") typically integrate automatically with appraisal order management systems offered by Appraisal management companies. Nasoft USA is an industry leader in building technology that integrates the flow of appraisal orders. It is anticipated that a technical connection between LOS and the valuation database will allow appraisal orders to be fulfilled immediately online, while the appraiser is afforded additional research time and maintains complete objectivity by constantly researching market conditions in advance. These efforts will enhance the ability of Zaio's appraiser network across the United States to complete market value research and to provide accurate and objective value estimates in a timely manner.
Guillermo Gower, CEO of Nasoft USA stated: "Nasoft USA is an IT powerhouse where our industry focus, proven experience and customer-centric delivery model are helping companies like Zaio play an integrative role in rebuilding the Real estate finance industry."
In conjunction with the anticipated signing of a National License Agreement with Zone Data System LLC ("ZDS"), Zaio's US appraiser network, ZDS commissioned a review of the Zaio's technology through an independent information technology consulting firm. The report concluded that Zaio used industry standards in regards to application design, structure and development making Zaio's solution viable and maintainable in the long term. A link to this technology review is available in the Investor section at www.zaio.com.
Ron Simmons, SRA, Managing Partner in ZDS and chair of ZDS's Technology committee stated: "We are convinced that the valuation database offers a revolutionary software platform through which appraiser certified data can be provided in combination with our local market research."
Zaio develops and maintains a site-verified database of photos, valuations and property information on virtually every residential property in entire cities, using a proprietary "GeoScore (TM)" property rating system. Zaio and its network of premiere, local appraiser experts appraise entire cities, one home at a time from the street. Zaio is a public Company that trades under the symbol "ZAO" on the TSX Venture Exchange in Canada. Zaio shares are also available in the U.S. under the trading symbol "ZAOFF". For more company information, visit www.zaio.com.
Forward Looking Information
This press release may contain forward-looking statements which may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact, including without limiting the generality of the foregoing, statements made regarding the new national licensing program. Although Zaio believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurance that such expectations will prove to be correct. Results of Zaio's new national licensing program may be affected by a variety of variables and risks such as availability of human and capital resources, competition, anticipated capital expenditures and financing thereof, timing of applications and approvals. As such the future plans and objectives of Zaio are forward-looking statements that involve risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in such statements. Zaio's forward-looking statements are expressly qualified in their entirety by this cautionary statement. Unless otherwise required by applicable securities laws, Zaio does not intend nor does it undertake any obligation to update or review any forward-looking statements to reflect subsequent information, events, results or circumstances or otherwise.
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.
SOURCE Zaio Corporation
For further information: For further information: Bradley Stinson, CEO, (403) 444-6886