Under new policies announced by Fannie Mae and Freddie Mac, mortgage brokers across the country are required to change the way they order and process appraisals. Beginning in January 2009, brokers will no longer be allowed to directly engage or hire the appraiser in a mortgage transaction.

"Zaio's technology allows mortgage brokers and the lending community to immediately comply with new secondary market requirements," states Jim Kirchmeyer, Chief Marketing Officer.

"Our track record of strategic partnerships continues to grow. Zaio's technology helps mortgage brokers, national banks, credit unions and other mortgage related institutions obtain higher levels of quality and improved efficiencies in the appraisal and collateral valuation processes." Zaio's unique process and its national network of more than 10,000 local expert appraisers ensure that the independence of appraisers is protected, consistent with the main focus of the new policies.

The new policies of Fannie Mae and Freddie Mac are scheduled to become effective January 1, 2009 but the mortgage industry and financial institutions have already started to prepare for the transition. According to industry reports, online mortgage originations totaled approximately $105 billion in Q1 2008. -- www.cnxmarketlink.com