Midwest firm has been awarded a sole Task
Order to perform appraisals across their 265,000 single-family
portfolio.
CALGARY, Sept. 20, 2016 /CNW/ - Zaio Corporation (TSXV:
ZAO) (the "Company" or "Zaio") today announced that
ValVets Appraisal Management, a proposed division of Zaio, has been
awarded a prime task order Blanket Purchase Agreement by a
non-Government Sponsored Entity Federal Agency ("Agency"), that
maintains over 1 million loans, to provide a Turnkey Nationwide
Appraisal and related technical support. The contract is expected
to generate approximately $12 million
dollars over the three (3) year life of the contract with
$6 million committed for 2017. As
part of an ongoing initiative by the Agency to provide the highest
and best use technologies and operational efficiency to the Federal
Government and taxpayer, this three (3) year Program will aim to
reduce costs associated with servicing defaulted customers,
streamline processes and improve vendor reporting to the Default
Management Branch.
"We are thrilled for Andrew and his team for announcing a
contract of this magnitude in the short time he's agreed to be a
part of the Zaio team," offered Shane
Copeland, CEO of Zaio Corporation. "While we always knew
Andrew would become a strong foundation of our team, he has already
exceeded our expectations. With an additional $6 million in revenue, and access to a group that
manages over 1 million loans, we are well on our way to building a
very strong base of revenue that will allow us to start working
towards profitability in the future.
"We welcome the opportunity to work alongside this established
organization, who has a longstanding commitment to providing low
and moderate income applicants the opportunity to obtain
single-family housing, among other services. This resonates
deeply with our firm, which was founded on the principals of
service and commitment to our fellow citizens and service men and
woman.", said Andrew Belt, President
of Valued Veterans. "This purchase provides the Agency with
the most advanced and proven delivery mechanisms for affordable,
quality and timely appraisals."
About Zaio Corporation
Zaio Corporation provides real estate valuation technologies to
deal with today's dynamic housing market through its proprietary
valuation solutions. Every day 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.
About Valued Veterans (ValVets)
Valued Veterans, which rebranded to ValVets earlier this year,
is a leading end-to-end appraisal management solutions provider to
both the private and public sectors. Additionally, ValVets
provides management capabilities in other Real Estate Services
verticals, including Appraisal, Asset Management, Marketing, Title
and other Field Servicing Management. The company's investment in
future-state technologies, including bespoke management systems,
data delivery and workflow visibility has transformed the firm into
a first class service vendor for government programs which require
real estate services. ValVet's private sector client base
includes several top 20 nationwide lenders and asset management
firms, including multiple incumbent contract holders to HUD's FSM
and M&M Program, in conjunction with our more than 5,000 fee
panel appraisers and service providers. More at
www.valvets.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.
Forward-Looking Information
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, completion of
onboarding of ValVets, capital requirements and availability and
availability and capacity, capabilities and execution of ValVets.
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