Lenders Now Using Zaio's Innovative Valuation Solution

Zaio Corporation (TSX-V: ZAO) announced today that lenders, appraisers and consumers in Spokane, Washington, are now using Zaio's industry-changing, innovative valuation solutions.

Spokane is the first market in the country where high-quality, industry-compliant appraisals completed by a locally licensed or certified appraiser can be obtained instantly resulting in obvious "speed of delivery" and "peace of mind" benefits.

Gary Cantrell, consumer risk manager for F&M Bank, reports, "Before Zaio, we were using a drive-by product that took about 10 days to receive, or a full interior appraisal that would cost over $300. The Zaio product has given us the ability to immediately document the property value, thus allowing an almost immediate turnaround for equity lending. Also, we really appreciate the more robust detail of the Zaio report compared to an Automated Valuation Model (AVM). Our regulatory burden to evaluate and document property values is ever increasing. Zaio helps us to exceed regulatory requirements by providing us the ability to use an appraisal when most lenders are using an AVM. And getting the evaluation almost immediately is hard to beat. We are sold on the Zaio solution."

Todd Powell, President and CEO of Spokane Firefighters Credit Union, said, "When a borrower is unsure of his property value, the Zaio system allows us to confirm a value range prior to ordering a full interior appraisal. We have used this on many occasions and found it a valuable tool that can save our members money."

"Zaio is an amazing system that will revolutionize the mortgage industry just like automated underwriting did. The ability to get an accurate value on a property instantly from my computer with the customer sitting in front of me and then later turn it into a completed URAR interior appraisal within a day is extraordinary. The system also reduces the risk of fraud. This takes a layer of risk out of the mortgage process when alternative lending products are at their highest," emphasized DeeDee Williams, AVP/HLC operations manager, Panhandle State Bank.

The property valuation reports in Spokane are being generated by several local appraisal firms that joined Zaio's premiere appraiser network including Certified Appraisal Inc., Zone Assessment Professionals LLC, AAA Appraisal Service Inc. and Berg Appraisal Services PC. These Spokane area appraisal firms are the only appraisers in Spokane who have inspected and appraised virtually every home in the city and are enjoying an increase in their business volumes as a result.

Tony Higley, president of Certified Appraisal, stated, "Spokane appraisers from five offices, using handheld computers, conducted an exterior inspection of virtually every home, authored appraisal reports and stored that information in Zaio's secure network. The local appraisers constantly monitor and evaluate sales and listings in the local market as they occur and regularly update their value estimates. The result is an exterior appraisal that can be retrieved by the customer instantly, complete with pictures, produced on official industry-accepted appraisal forms, prepared and signed by a licensed appraiser who has inspected the property. "

Homeowners also benefit from Zaio's solutions. Receiving an appraisal completed by an appraiser who is an exclusive member within the Zaio network can expedite home sales.

Zaio also announced that the city of Mesa, Arizona, population 500,000, is completed and customers can now receive instant appraisals for virtually every home. In late 2006, Zaio completely sold out its software to local appraiser experts in 170 US cities in just 6 months. Zaio is now aggressively launching appraisal operations in those 170 cities and is expected to provide coverage in those and other US cities by the end of 2007. It is just a matter of time until an official appraisal for virtually every home in the United States will be completed by Zaio-affiliated appraisers and available to a variety of customers instantly. -- www.cnxmarketlink.com