Voxtur Adds to Digital Technology Solutions
Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) has launched two new desktop appraisal review products, Retrospective Appraisal Credibility Review (RACR) and RACRPro, designed to enhance the credibility of real estate appraisals. These tools utilize the Voxtur Verified property database to analyze original appraisal values and provide revised values as necessary. Developed in compliance with USPAP standards, both products aim to improve efficiency in the secondary mortgage market and are available in all 50 states.
- Launch of RACR and RACRPro enhances appraisal review process.
- Products improve credibility of appraisal values.
- Designed around USPAP standards ensuring compliance.
- Availability in all 50 states increases market reach.
- None.
TORONTO and TAMPA, Fla., July 26, 2022 (GLOBE NEWSWIRE) -- Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company”), a North American technology company creating a more transparent and accessible real estate lending ecosystem, announced today the rollout of two new desktop appraisal review products. Retrospective Appraisal Credibility Review (RACR) and RACRPro are comprehensive desktop appraisal tools that validate the credibility of the original appraisal value by aggregating and analyzing supplemental data points. The RACR products allow stakeholders throughout the lending cycle, from first lien origination in the primary market to portfolio management and the secondary market, to make decisions with confidence.
RACR and RACRPro leverage the Voxtur Verified property database to generate a detailed analysis of an original appraisal, including a score of A to F. Reviewers can use this information to provide a revised value if they find the original to be inaccurate or stale. These tools were designed around USPAP standards and guide the reviewer through a series of required affirmations, including 24 distinct variables. Every RACR review is completed by a USPAP-trained QC Analyst and every RACRPro review is performed by a state-licensed appraiser.
"With commitment from the GSEs to modernize appraisals, we continue to provide more efficient, transparent, and lower-cost valuation options for the underserved secondary mortgage market," said Jim Albertelli, CEO of Voxtur. "Our digital culture continues to enhance the consumer experience by reducing inefficiencies and supporting the implementation of solutions to lower the cost of homeownership."
The Voxtur RACR products facilitate more efficient appraisal options with a focus on compliance. RACR and RACRPro are available in all 50 states.
About Voxtur
Voxtur is a transformational real estate technology company that is 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 lending lifecycle for investors, lenders, government agencies and servicers. Voxtur's proprietary data hub and workflow platforms more accurately and efficiently value assets, originate and service loans, securitize portfolios and evaluate tax assessments. The Company serves the property lending and property tax sectors, both public and private, in the United States and Canada. For more information, visit www.voxtur.com.
Contact:
Jordan Ross
Chief Investment Officer
Tel: (416) 708-9764
jordan@voxtur.com
FAQ
What are Voxtur's new appraisal products?
How do RACR and RACRPro work?
Are the new appraisal products compliant with industry standards?
In which regions are these new appraisal tools available?
What company launched the RACR products?
