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Zaio Press Release the 2055 lives?

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Mike Kennedy

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Calgary, AB, February 6, 2008Zaio Corporation (TSX-V: ZAO) and its Scottsdale, AZ based subsidiary, Zaio Inc. , announced the release of Version 2.0 of its exclusive patent-pending database and technology.

The company also reported that the appraisal revenues sent to affiliated Zone Appraisers in Q4 2007 increased by 32% over Q3 2007, and increased by 107% from March 2007 to December 2007, demonstrating its commitment to attract more revenues for its elite network of local appraisers. Overall, Zaio sent revenues to 2,302 appraisal firms during 2007, with many firms having multiple appraisers.
One such appraiser is Zone owner Ken Verrett of Houston Texas who said: “Our appraisal business received $39,345 in increased revenues as a result of our Zaio affiliation during 2007, generating a handsome return on our investment in Zaio technology”.

Zaio’s latest technology includes several enhancements that greatly benefit lenders and appraisers. Lenders will no longer be required to wait 4 to 7 days to obtain the results of appraisals, and they can access appraisals from a secure database in seconds, much the same way they obtain credit reports. Instead of instantly populating only the 2055 exterior appraisal form, with Version 2.0, appraisers are now able to produce a complete line of valuation services ranging from AVMs, to desk top appraisals, to exterior drive-by’s, professional price opinions, and full URAR interior appraisals to diversify their appraisal business and help grow revenues.

Traditionally, lenders have been required to obtain appraisal reports from licensed appraisers. Previous industry attempts to increase the speed of the appraisal process have resulted in lower appraisal quality and led to the introduction of valuations performed by computer models and real estate agents. However, Zaio’s proprietary database and technology allows appraisers to speed their delivery of appraisals without reducing quality. This is significant because loans originated with appraisals have significantly lower loss rates than loans originated with broker price opinions.

Over 2,300 appraisal firms and nearly 500 lenders in 50 states are now benefiting from Zaio Technology. The company currently maintains a database of 140 million property records and Zaio’s affiliated local appraisers inspect and appraise every property in a city in advance of any transaction, thus assuring total objectivity.

“These appraisals comply with the same rules and banking regulations as any other appraisal prepared by a licensed appraiser. Zaio technology simply helps lenders to obtain the reports more quickly, and allows the appraiser sufficient time to conduct much more market analysis,” said Thomas Inserra, CEO of Zaio Corporation. While many appraisers often analyze only 3 comparable sales in an appraisal, Zaio appraisers will be required to evaluate every sale and listing in a neighborhood, allowing them to “Get the Whole Picture” of the entire market.

Zaio noted that the 107% increase in revenues to Zone appraisers was achieved with limited marketing efforts. Much of the focus of Q4 was testing and evaluating the Quality Control procedures and product quality to help ensure that lenders would have a favorable experience. Since the end of the fourth quarter, Zaio has introduced new lender marketing materials, hired several national sales executives and is now focused on sustaining revenue growth for its affiliated Zone appraisers.

Lenders are now discovering that loans originated with broker price opinions and other alternative products have as much as a 4 to 6 times higher probability of leading to loan losses, than loans originated with appraisals. “Lenders are concluding that the best solution to the mortgage crisis is to re-value their mortgage assets to more realistic market values, and to strengthen their lending policies to require appraisals rather than Broker Price Opinions,” said Jim Kirchmeyer, Zaio Chief Marketing Officer.


** interesting the release STILL lacks specifics on what Percentage of Fees paid out are directly derived from the "zowee-wowwee" reports versus what is derived from their purchase of Kirchmeyer & Associates. :new_smile-l:

Good "spin" tho. :fiddle: the band plays on......and on......

Golden Parachute anyone?
 

Squareitup

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District of Columbia
That ship has been taking on water since it hit the fish pond.
 
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