A top mortgage bank and nonbank servicer will deploy Voxtur AOL in the first quarter to reduce closing costs for homebuyers
Voxtur Analytics Corp., a North American technology company creating a more transparent and accessible real estate lending ecosystem, is pleased to announce that a top five mortgage servicer and top 20 bank will begin offering Voxtur AOL in the first quarter of 2023. Voxtur AOL is an alternative to title insurance that can save homebuyers 20% to 70% on the cost of title coverage, reducing closing costs by hundreds, if not thousands, of dollars.
By leveraging existing client relationships, Voxtur continues to gain momentum with the expansion of its Voxtur AOL, one of the only insured title insurance alternatives available on the market. With the addition of these large clients, the reach of Voxtur AOL continues to grow, benefitting even more U.S. homebuyers.
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“We have access to better technology and data than ever before. The cost savings from these advancements have benefited lenders and service providers, while homebuyers are left to pay exorbitant closing costs,” said Voxtur CEO Jim Albertelli. “As more lenders realize the opportunity that Voxtur AOL presents to offer savings to their customers, Voxtur furthers its mission of reducing the cost of homeownership for more Americans.”
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Using a patent-pending process, Voxtur AOL pairs the efficiency and scalability of a data-driven property review with the strength of a legal opinion. The result is a fully compliant AOL backed by transactional liability insurance that covers the full value of the loan for the life of the loan.
The use of AOL has been approved by Fannie Mae, Freddie Mac, and the Veterans Administration. Voxtur AOL is available nationwide through strategic partnerships with certain lenders and service providers.
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