REAL ESTATE TECHNOLOGY, MORTGAGE AND LENDING
Globenewswire | May 19, 2023
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, is pleased to announce the signing of an exclusive platform agreement with The Mortgage Collaborative (“TMC”), America’s largest independent cooperative network for the mortgage industry that includes both community banks and non-bank lenders. Voxtur will make available to over 250 TMC members its complete digital ecosystem to support the mortgage lifecycle. More specifically, Voxtur’s mortgage asset trading platform, Blue Water, will deliver a software-as-a-service (SaaS) solution to facilitate the purchase and sale of mortgage assets, including first mortgage agency whole loans, mortgage servicing rights, second liens, and non-QM mortgages. The Blue Water platform facilitates pricing, trading, reviewing, transferring, and funding of mortgage assets and portfolios in the secondary market.
“This is a tremendous opportunity for Voxtur, TMC, and its members,” said Gary Yeoman, CEO of Voxtur. “Our mortgage asset trading platform is built to deliver high volume trading and create efficient liquidity. We have successfully deployed similar platforms and I am confident that TMC and its members will realize value.”
As the market recovers, lenders need increased revenue and liquidity. For mid to small sized lenders with small servicing portfolios, operational friction and high costs result in reduced investor demand and opportunities. Further, smaller portfolios command lower proceeds which naturally disadvantages many originators and prohibits optimum liquidity. TMC can now provide its members with the most sophisticated, efficient, and unique platform for trading asset portfolios of any size. Blue Water’s all-digital trading solution verifies critical loan data, conducts a high-level review of underwriting and investor eligibility, and offers real-time exception remediation management to minimize underwriting risk and avoid costly rep and warrant claims. Blue Water’s data transfer application does not use sampling, but instead verifies every loan file, and does so at an attractive price point.
“This is a compelling use case for our members, and I expect that we will see meaningful adoption," said David Kittle, Chairman of TMC. "These have been difficult times for so many of our members and this type of platform will provide tremendous value to support them in driving revenue and solving for liquidity needs at scale.”
The Blue Water-TMC platform is expected to go live within the next few weeks with a soft-launch at the Mortgage Bankers Association Secondary and Capital Markets Conference and Expo in New York early next week.
About The Mortgage Collaborative
Based in San Diego, California, the Mortgage Collaborative was founded in 2013 to empower mortgage lenders across the country with better financial execution, reduced costs, enhanced expertise and improved compliance, as well as helping members access the dynamic and changing consumer base in America. The cooperative is managed by its founding members, John Robbins, CMB; David Kittle, CMB; Gary Acosta, CEO of the National Association of Hispanic Real Estate Professionals (NAHREP); and Jim Park, former chair of the Asian Real Estate Association of America (AREAA). Robbins and Kittle are former chairmen of the Mortgage Bankers Association of America.
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.
REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
Businesswire | April 10, 2023
Built Technologies, one of the fastest growing construction and real estate fintech software providers in the U.S., today announced the launch of a new business unit focused on commercial property developers. This expansion will enable the development of new, purpose-built solutions designed to address the unique needs of this market. Built’s first product for commercial property developers is set to launch later in 2023.
In partnership with highly respected commercial property developers, Built Technologies is creating a configurable, cloud-based solution that will address key market challenges, including funding delays, manual processes, unexpected change orders, and maintaining an accurate view of the budget and forecast. The solution will remove friction and increase transparency and speed, enabling developers to boost productivity, reduce loss, and increase revenue and scalability.
“As economic trends shift, owners and developers can benefit from tools that identify risks, assess options, and inform decision making,” said Alex Helman, general manager, owners at Built Technologies. “Built is listening to the thousands of users collaborating within our platform as we design each solution with proactive customer input. We’re eager to partner with developers, as we can connect them to our existing network of capital providers and builders to accelerate funding, increase portfolio visibility, and enable instant collaboration.”
Built Technologies provides solutions designed to optimize financial operations within the vast construction ecosystem. To date, Built has managed over 380,000 construction projects, totaling more than $200B+ in construction volume. To partner with Built Technologies as we design our solution for developers, sign up for one of our limited partner seats today https://getbuilt.com/roles/commercial-developers.
About Built Technologies
Built is the leading provider of construction and real estate finance technology. By providing a centralized platform for all stakeholders, Built enables increased efficiency, collaboration, transparency, and business agility—with decreased risk—allowing customers to improve the way that the communities around them are built and managed. The Built platform is used by more than 270 leading North American lenders and asset managers, and thousands of developers, home builders and contractors.
REAL ESTATE INVESTMENT, BUYING/SELLING
PRnewswire | March 30, 2023
Pacaso announced today the launch of a limited-time opportunity for accredited U.S. investors to invest in the category leading technology-enabled real estate marketplace that helps people buy and co-own a luxury second home. The new investment opportunity with Pacaso is a two year, 10% annualized promissory note backed by luxury real estate. Investors receive quarterly interest payments with a return of the principal at the end of the two year term. The fund aims to generate strong risk-adjusted financial returns for investors and provides Pacaso with flexibility to offer more attractive financing offers for second home buyers.
Investors benefit by earning consistent, passive income, diversifying their portfolio with luxury real estate, and enabling expanded financing options for Pacaso that help more people become second homeowners.
"Pacaso owners are the gold standard for consumer credit quality. This creates a win-win opportunity for investors to make consistent, passive income and future Pacaso homeowners to lock in seamless financing," said Pacaso CEO and Co-Founder Austin Allison. "This unique fund is a smart choice for people who want a low risk and low barrier of entry investment opportunity to diversify their portfolio by gaining exposure across high-quality, luxury real estate, which has proven to be one of the safest places to park money during uncertain times."
As the category leader of co-ownership of second homes, Pacaso has seen a tremendous response from high-net-worth buyers to the company's attractive integrated financing solutions on Pacaso listings and resales within the Pacaso marketplace. Pacaso is uniquely positioned for growth and second home demand has been off to a positive start in 2023. Deposits have increased 90% in the first two months of 2023, compared to the last two months of 2022.
Certain statements in this presentation may constitute "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding Pacaso's expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "strive," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Pacaso does not give any assurance that Pacaso will achieve its expectations. Readers are cautioned not to put undue reliance on forward-looking statements, and Pacaso assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Pacaso® is a technology-enabled marketplace that modernizes real estate co-ownership to make second homes possible and enjoyable for more people. Pacaso curates luxury listings with premium amenities and high-end contemporary interior design, offers ⅛ to ½ ownership with integrated financing, and, after purchase, professionally manages the home and supports seamless resale. Co-founded by Austin Allison and Spencer Rascoff in 2020, Pacaso operates in 40 top second home destinations around the world. Pacaso has been certified as a Great Place to Work and is recognized as one of Glassdoor's 2022 Best Places to Work.