Scottsdale 9/21/2013 3:00:00 AM
Co-Signer (COSR) Acquires Residential Lease Assurance Company, Co-Signer.com
QualityStocks would like to highlight Co-Signer, Inc. (OTCBB: COSR). The company, through its wholly-owned subsidiary, Co-Signer.com, Inc. provides commercial guarantee services for residential leases, creating a new US industry that addresses the need for rent assurance in an increasingly restrictive approval environment, facilitating housing for tenants and enhancing occupancy rates and cash flow for landlords. The service replaces the discomfort and administrative headache of personal guarantees from friends or relatives with a reliable, professionally administered, commercial assurance.
In the company’s news,
Co-Signer recently acquired Co-Signer.com, Inc., a leading residential lease assurance company that provides guaranteed rent on behalf of tenant clients to landlords, property managers, and others. Co-Signer.com’s services are fee-based, available to individuals who are able to afford rental payments on a new residence but may have no credit or poor credit.
Co-Signer.com was established as a provider of assistance to Americans whose credit scores were damaged during the 2007 housing and 2008 financial crises.
“As a result of these circumstances and other nagging financial indicators, the need to have someone cosign for a residential lease has increased and will continue. In the case of many tenants, the family and friends who would have cosigned for them a few years ago are now unable to do so,” Rebecca Eli, vice president of marketing for Co-Signer.com, stated in the press release. “We are aggressively seeking to meet this increased need for lease cosigners through our branded website, www.Co-Signer.com.”
Co-Signer is on the forefront of this new U.S. industry as it seeks to addresses the need for rent assurance, especially in light of restrictions in loan approvals nationwide. The process allows qualified individuals to purchase a lease guarantee from Co-Signer.com to satisfy the landlord’s financial and credit requirements.
“Our service replaces the traditional need to rely on family and friends to cosign on a lease with an affordable, efficient and professional service that benefits both tenant and landlord and eliminates the uncomfortable, unreliable and inconsistencies that residential co-signing by relatives and friends often produces,” said Eli. “These services are similar to those that have been a mainstay in Australia’s residential leasing industry for over the past twenty years and available in the U.S. on a limited basis for the past six years.”
Co-Signer.com conducted two years of testing on its proprietary approval screening processes and online platform and is now launching its services through multiple channels.
“Co-Signer has perfected this service through state of the art information services to achieve low default ratios that also maximize the company’s profitability. After two years Co-Signer.com is generating revenue. We are very excited about its future and is why we targeted the acquisition of Co-Signer.com. We are very happy and optimistic for our shareholders and our associates,” Darren Magot, chairman and interim CEO of COSR stated.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
