Voxtur Analytics : Applauds Decision by

Highlights:

  • Fannie Mae and Freddie Mac make digital desktop home appraisals a permanent option starting in March 2022
  • Voxtur core technologies gain momentum with the implementation of remote appraisals

Toronto, Ontario and Tampa, Florida – February 9, 2022 – 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, applauds the recent decision by Fannie Mae and Freddie Mac to permanently allow desktop home appraisals beginning in March.

To address the backlog of appraisals created by the pandemic, Fannie Mae and Freddie Mac temporarily implemented a desktop appraisal option in early 2020. Due to the success of this initiative, and on the heels of an announcement from the Federal Housing Finance Agency (“FHFA”), desktop appraisals will now be a permanent option for purchase transactions. With this change, more lenders, borrowers, and appraisers will have the opportunity to benefit from Anow’s valuation technology.

“With this commitment from Fannie and Freddie to modernize appraisal, we will see a more efficient, transparent, and lower cost appraisal process for lenders, borrowers, and appraisers,” said Jim Albertelli, CEO of Voxtur. “Because the desktop appraisal process is rooted in data, the new system will be critical in addressing the industry’s pain points.”

Appraisals are a critical component of residential real estate lending transactions but can be fraught with challenges. First, the pandemic created a massive backlog of orders. In addition, appraisals can be time-consuming, particularly in rural areas where resources are limited, and appraisers can spend hours in a day driving between properties. Finally, current appraisal processes can lead to racial bias against ethnic minorities, raising concerns about the lack of transparency and equality in the current lending environment.

Voxtur is championing data-driven solutions for the real estate industry by deploying its SaaS-based valuation platform and depth of expertise. The Anow valuation technology platform supports the desktop appraisal model by providing automation to reduce turnaround times. With one of the richest data repositories in the industry, Voxtur’s digital culture continues to enhance the consumer experience by reducing inefficiencies and supporting the implementation of solutions to lower the cost of homeownership.

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Voxtur Analytics Corp. published this content on 09 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 February 2022 14:52:06 UTC.

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