CALGARY, ALBERTA--(Marketwire - Jan 17, 2013) - Zaio Corporation (TSX VENTURE:ZAO) (the "Company"), today announced that Axis Appraisal Management Solutions Inc. ("Axis") has commenced the delivery of 1004 URAR reports to lenders in its California network utilizing Zone Data Systems appraisers and has expanded its product offering to include the delivery of Zaio''s Z-VAL products to the mortgage brokerage and mortgage lending customers in this market.
Based in Northern California, Axis Appraisal Management Solutions Inc. supports a nationwide panel of licensed appraisers who provide appraisal services to mortgage lenders and other clients across the United States.
"As a leading National appraisal management company, we are always looking for proven technologies and people that will increase our capacity to deliver valuation solutions in the fast growing mortgage lending market," noted Ron Simmons, Director of Valuation Services & Chief Appraiser of Axis. "Zaio''s technology assists appraisers in efficiently preparing the 1004 URAR which represents the bulk of our business," added Mr. Simmons. "The addition of the Z-VAL product provides our customers with a new valuation tool at a price point that complements our business and supports pre-qualification for mortgage origination as well as appraisal review services."
Axis and Zaio are now working together to expand delivery of the 1004 URAR and Z-VAL products into five additional states serviced by its network in the first quarter of 2013. Zaio''s database allows for sophisticated data modeling and accuracy in preparing industry standard forms like the 1004 URAR as well as specialty products like the Z-VAL that provide mortgage lenders, brokers and borrowers with a more accurate and cost effective alternative to Broker Price Opinion reports.
"The Axis launch in California confirms that Zaio''s products fulfill two critical needs in the marketplace, namely efficiency and quality," noted David King, Zaio''s President and CEO. "We are looking forward to expanding the delivery of Zaio''s products to a larger segment of Axis''s customer base in the first quarter of 2013, and ultimately our joint coverage will expand to include all 50 states," added Mr. King.
For further information visit www.zaio.com.
About Zaio Corporation
Zaio provides customers in the property valuation, underwriting and lending industries with real-time access to certified appraisal reports from the Company''s patented database of proactively maintained residential property valuations prepared by licensed appraisers across the United States. The Company''s products are available in the United States through its Licensee, Zone Data Systems LLC.
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.
This press release contains forward-looking statements. 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.