Voxtur will provide an Opi lawyer
TORONTO and TAMPA, Fla., Oct. 17, 2022 (GLOBE NEWSWIRE) — Voxtur Analytics Corp. (TSXV: VXTR; VXTRF) (“Voxtur” or the “Company”), a North American technology company building a more transparent and accessible home lending ecosystem, announced today, in response to updates from VA Lenders Handbook published on October 12, 2022 (Leaflet VA 26-7, chapter 9), that Voxtur’s (“Voxtur AOL”) Attorney Opinion Letter is now available as a fully compliant alternative to title insurance on direct and VA-backed home loans.
The Department of Veterans Affairs (VA) released updates to its lenders handbook last week, including language regarding the use of an opinion letter from an attorney instead of title insurance. The VA has never required that a lender making a VA loan obtain title insurance, stating in its lenders handbook that the lender may instead apply its own title insurance requirements to VA loan transactions. The Lenders Handbook now provides that effective September 29, 2022, provisions regarding title insurance have been revised to include lawyers’ opinion letters.
Voxtur continues to drive innovation and change to benefit consumers with its Voxtur AOL, one of the only fully insured title alternatives available. Following its announcement in response to Fannie Mae’s reported acceptance of attorneys’ opinion letters in April, the company continued to gain momentum in the Voxtur AOL rollout. With this change to the VA Lender Handbook, Voxtur can continue its mission to reduce the cost of homeownership by extending the benefit to veterans.
“Voxtur is bringing significant change to the real estate ecosystem to benefit consumers and lenders by reducing costs and improving overall efficiency,” said Jim Albertelli, CEO of Voxtur. “The desire to support our veterans, service members and their survivors has always been a driving force behind Voxtur AOL, so we’re thrilled to finally have the opportunity to help them close the affordability gap and create wealth.” generational through home ownership.”
The Voxtur AOL combines the strength of a legal opinion with the efficiency and scalability of a data-driven property review. Using sophisticated data analytics and legal expertise, the company creates lawyer opinion letters with precision and breadth. Every Voxtur AOL is backed by specialized transactional insurance that covers the full loan value for the life of the loan.
As agency acceptance and lender engagement become more widespread, Voxtur’s goal of creating more affordable homeownership for all Americans is increasingly becoming a reality.
“The Voxtur team has worked diligently to engage with GSEs, investors and lenders to develop a fully compliant alternative to title insurance that will result in significant savings for consumers,” said Stacy. Mestayer, legal director of Voxtur. “A Voxtur AOL can save a borrower, now including veterans, up to the full mortgage payment in some cases. It is a significant change.
The Voxtur AOL is available in all states through strategic partnerships with lenders and service providers.
For more information visit our website at www.voxtur-aol.com.
Voxtur is a transformational real estate technology company redefining industry standards in a dynamic lending environment. The company offers targeted data analytics to simplify tax solutions, property valuation and settlement services throughout the loan lifecycle for investors, lenders, government agencies and services. Voxtur’s proprietary data hub and workflow platforms more accurately and efficiently assess assets, originate and service loans, securitize portfolios and assess tax valuations. The Company serves the real estate lending and property tax industries, both public and private, in the United States and Canada. For more information, visit www.voxtur.com.
Voxtur’s common shares trade on the TSX Venture Exchange under the symbol VXTR and in the United States on the OTCQB under the symbol VXTRF.
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