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Jim Albertelli, CEOIn comes Voxtur to revolutionize the real estate tech space. With proprietary software and targeted data analysis, Voxtur provides visibility and efficiency throughout the lending process. With a keen understanding of the lending lifecycle, deep subject matter expertise, and state-of-the-art tax, title, and valuation platforms, the real estate tech company deploys its data-driven methodologies to authenticate property characteristics and drive efficiency. “Voxtur is a data-as-a-service and softwareas- a-service company that enhances the consumer experience throughout the loan life cycle,” says Jim Albertelli, CEO, Voxtur.
Blending Data with Service
Voxtur’s proprietary technology platforms elegantly combine SaaS services with data-driven solutions to provide a flexible and intuitive front-end graphical user interface (GUI). Voxtur also leverages artificial intelligence and machine learning to route optimized workflows for a more streamlined experience to benefit every stakeholder in the real estate ecosystem.
Voxtur’s property valuation solutions are diverse, providing solutions for all participants in the value chain. Anow is a technology platform that streamlines the appraisal process for appraisers and lenders by automating certain traditionally manual components, while Voxtur Valuation is an appraisal management company providing full service solutions to clients. Notably, the Voxtur senior management team is experienced and well-versed in the regulatory lending environment, so compliance is at the forefront of Voxtur’s valuation solutions. “Our valuation technology aggregates underlying real estate data sets and verified data inputs to deploy compliant software solutions for more transparency and more informed decision making throughout the lending process,” remarks Albertelli.
Further, Voxtur’s Real Property Tax Analytics (RPTA) solution brings clarity to tax assessments by verifying property values to validate property tax assessments levied by municipalities. Simultaneously, the Voxtur Verified data engine provides instant title data for a more comprehensive decisioning process. “We allow lenders to make quick and more efficient underwriting decisions,” Albertelli says. In a nutshell, Voxtur’s suite of solutions works overtime to deliver efficiencies and enhance the mortgage lending process from start to finish.
Delivering Efficiencies with a Difference
What gives Voxtur the leading edge in the industry is its team of illustrious stalwarts with extensive subject matter expertise in property and real estate tech. As the company’s largest shareholders, Voxtur senior management is deeply invested in its success.
Voxtur continues to innovate by finding ways to extract value from its data resources, create efficiencies, and deliver SaaS solutions to enhance core business processes for its clients. “We reduce costs for homeowners and mitigate risk for lenders, which resonates with investors,” states Albertelli.
Moving forward, Voxtur has a series of exciting developments lined up. Keen to expand both its B2B and B2C offerings, Voxtur will deliver more visibility directly to consumers and heightened accuracy in tax assessment, directly reducing the price of homeownership for consumers. Additionally, Voxtur is also seeing growth in the financial services sector through deployment of its cutting-edge bankruptcy technology.
That’s not all. “We’ll also support other consumer-facing industries by putting our validated data in the hands of fiduciaries so that they can more effectively manage multiple properties for the benefit of the property owners, reducing costs and also opportunities for fraudulent behavior in asset management,” informs Albertelli. Looking forward to organic growth across verticals in 2022-2023, Voxtur is set to scale greater heights. “What we're doing in Voxtur is addressing all of the pain points throughout the lending lifecycle, creating a better experience for all participants,” he concludes.
Company
Voxtur
Management
Jim Albertelli, CEO
Description
Voxtur offers advanced data analytics for real estate taxation, property valuation, and loan settlement services to lenders and mortgage financers. With proprietary software and targeted data analysis, Voxtur provides visibility and efficiency throughout the lending process. With a keen understanding of the lending lifecycle, deep subject matter expertise, and state-of-the-art tax, title, and valuation platforms, the Voxtur deploys its data-driven methodologies to authenticate property characteristics and drive efficiency. Voxtur’s proprietary technology platforms combines SaaS and DaaS solutions to provide a flexible and intuitive front-end graphical user interface (GUI), and leverages AI and machine learning to route optimized workflows
Voxtur News
Voxtur Announces Sale of Debt to Strategic Investors
Voxtur Announces the Issuance of Shares in Connection with the Acquisition of MTE
Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF), a North American technology company creating a more transparent and accessible real estate lending ecosystem, is pleased to announce that pursuant to the prior press release dated July 5, 2022, the Company intends to issue (the “Issuance”) an aggregate of 5,500,000 common shares in the capital of the Company (the “Common Shares”) at a deemed price of $0.094 per share in lieu of cash payable for the aggregate amount of $500,000 (being the outstanding cash balance of the remaining purchase price for the acquisition of Municipal Tax Equity Consultants Inc. and MTE Paralegal Professional Corporation (collectively, “MTE”)), held in escrow for 18 months pursuant to an escrow agreement between the Company, the escrow agent, the seller and the guarantor (the “Escrow Amount”).
Pursuant to an amended and restated escrow agreement, the escrow agent will return in cash, the Escrow Amount (together with all interest, dividends, income, capital gains and other amounts earned thereon or derived therefrom) to the Company and the Company will issue 5,500,000 Common Shares to the seller in lieu of cash payable for the Escrow Amount.
The Issuance is considered to be a shares for debt transaction pursuant to the policies of the TSX Venture Exchange (the “TSXV”) and remains subject to TSXV approval.
Pursuant to an amended and restated escrow agreement, the escrow agent will return in cash, the Escrow Amount (together with all interest, dividends, income, capital gains and other amounts earned thereon or derived therefrom) to the Company and the Company will issue 5,500,000 Common Shares to the seller in lieu of cash payable for the Escrow Amount.
The Issuance is considered to be a shares for debt transaction pursuant to the policies of the TSX Venture Exchange (the “TSXV”) and remains subject to TSXV approval.
The Note was executed on January 1, 2023, to document the outstanding balance of fees owed by JEAPA, a U.S. based law firm doing business as “ALAW” and controlled by Voxtur CEO Jim Albertelli, to Voxtur under a Services Agreement dated February 3, 2021, between JEAPA and wholly owned Voxtur subsidiary Voxtur Technologies US, Inc. (“Voxtur Technologies"), whereby Voxtur Technologies provides non-legal support services leveraging technologies developed by Voxtur to JEAPA (“Services Agreement”). JEAPA, a multi-state law firm representing mortgage lenders and servicers across the U.S., was substantially impacted by the COVID-19 pandemic and subsequent foreclosure moratoriums, resulting in an accrual of fees under the Services Agreement. To avoid the impact of continued accrual, JEAPA agreed to execute the Note documenting the fees owed. Further, Voxtur Technologies and JEAPA amended the Services Agreement as of January 1, 2023, to reflect the implementation of enhanced default technology developed by Voxtur and to revise the fee structure from a cost-plus model to a per file technology fee model, where JEAPA pays a fee for each file it processes using Voxtur’s specialized default technology. This revised model should better align the interests of the parties and avoid any future accrual of fees under the Services Agreement.
“This is a positive step forward for the Company as it advances our goal of transitioning to a pure SaaS-based model, while also eliminating the related party debt,” said Gary Yeoman, Voxtur’s Executive Chairman. “The default technology that Voxtur has developed presents an opportunity to provide immense value not only to JEAPA, but to other similarly situated law firms in the market as well.”
“The technology solution developed by Voxtur will drive enhanced operational controls and process improvements to ALAW,” said Jonathan Sawyer, Managing Partner of JEAPA (ALAW). “We are excited about this enhanced software offering and the value it will provide to the Firm.”
The sale of the Note brings two strategic investors to Voxtur. Concurrently with the purchase of the Note, JEAPA transferred to the purchasers, in full satisfaction of the Note, 39,092,000 common shares of the Company owned by JEAPA, reflecting a premium negotiated by JEAPA directly with the purchasers. Washington School House, LLC, and Kevin McCarthy, jointly with Leann McCarthy, agreed to purchase the Note based upon their belief in the Company’s mission and confidence in its management team. These investors have more than 65 years combined experience in the U.S. mortgage market and a proven track record of success in the operation of a multi-state real estate law firm, as well as various other real estate related investments.
"I have followed the Voxtur story for some time and am thrilled to become a shareholder of the Company," said Kevin McCarthy. "I believe Voxtur is uniquely positioned to achieve its long-term growth goals and I look forward to exploring ways to provide additional strategic value."
Following JEAPA’s transfer of shares in satisfaction of the Note, JEAPA continues to hold approximately 27,400,000 common shares of the Company. This reduces the total number of shares beneficially owned by Mr. Albertelli, removing his designation as a Control Person (as that term is defined in the policies of the TSX Venture Exchange (“TSXV”)).
Voxtur has seen significant growth in recent months despite the market downturn. New products like Voxtur AOL, Appraisal Direct, and Real Property Tax Analytics continue to drive momentum as the Company remains committed to creating a digital future that enhances the consumer experience and lowers the cost of homeownership.