Real Matters Provides Update on Title and Closing Services Deployment

TORONTO--()--Real Matters Inc. (“Real Matters”) (TSX:REAL), a leading network management services platform for the mortgage industry, today said that its previously announced title and closing services deployment with a U.S. Tier 1 lender will not proceed at this time due to circumstances beyond the Company’s control. Real Matters will continue to pursue this opportunity.

Real Matters will continue to roll out its title and closing platform according to its originally contemplated timeline and dedicate the appropriate resources to ensure it gains market share. The Company remains on track to meet its previously stated financial objectives.

About Real Matters

Real Matters is a leading network management services provider for the $16 billion mortgage lending and insurance industries. Real Matters’ platform combines its proprietary technology and network management capabilities with tens of thousands of independent qualified field agents to create an efficient marketplace for the provision of mortgage lending and insurance industry services. Our clients include more than 60 of the top 100 mortgage lenders in the U.S. and some of the largest insurance companies in North America. We are a leading independent provider of residential real estate appraisals to the mortgage market and a leading independent provider of title and mortgage closing services in the U.S. Established in 2004, Real Matters has offices in Buffalo (NY), Denver (CO), Middletown (RI), and Markham (ON). Real Matters is listed on the Toronto Stock Exchange under the symbol REAL. For more information, visit www.realmatters.com.

FORWARD-LOOKING INFORMATION

This press release contains forward-looking statements within the meaning of applicable Canadian securities laws including statements related to the expected date of providing title and closing services to the Tier 1 Lender as well as the expected reduction in closing times by use of the platform by the Tier 1 Lender. The words “continue”, “expect”, “anticipate”, “estimate”, “may”, “will”, “should”, “views”, “intend”, “believe”, “plan”, “outlook” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on estimates and assumptions made by Real Matters in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that Real Matters believes are appropriate in the circumstances. Many factors could cause Real Matters’ performance or achievements to differ from those expressed or implied by the forward-looking statements, some of which are discussed in detail in Real Matters’ Annual Information Form and other public filings which can found at www.sedar.com.

Contacts

Real Matters
Lyne Fisher, 289-843-3383
Vice President, Investor Relations and Corporate Communications
lfisher@realmatters.com

Contacts

Real Matters
Lyne Fisher, 289-843-3383
Vice President, Investor Relations and Corporate Communications
lfisher@realmatters.com