[October 20, 2008] Solidifi Launches Paradigm-Changing Valuation Solution Tweet SAN FRANCISCO, Oct 20, 2008 (BUSINESS WIRE) -- Toronto-based Solidifi Inc., a leading provider of collateral valuation and risk management services, announced from the 95th Annual Mortgage Bankers Association Conference and Expo that it has now fulfilled its first residential real estate appraisal orders in the United States using its Solidifi Values(TM) solution. The company, which has been serving the collateral valuation and risk mitigation needs of global lenders in Canada, said the initial transactions clearly demonstrated the company's unique ability to deliver efficient and high quality collateral valuations with complete transparency to lenders. The company is currently working with several national lenders for a nationwide rollout. "As promised, we have launched our U.S. operation on schedule and we are now providing our complete range of services to lenders," said Jason Smith, president and CEO of Solidifi. "As expected, our solution operated perfectly and the lender received high quality valuations delivered with full appraiser transparency." The successful transactions come less than six months after the company committed to enter the U.S. market, which it did during the most serious housing downturn since the Great Depression. Solidifi Values(TM), the only technology-based service that provides 100 percent transparency to the lender at the same time allowing professional appraisers to set their own fees, is expected to be a much-needed solution to many of the appraisal-related problems the mortgage industry has been experiencing. The speed with which new appraisers have joined the company's National Appraiser Network and the willingness of national lenders to go live on the new service immediately are testament to the fact that Solidifi offers what the U.S. home finance industry needs. Solidifi provides mortgage professionals with risk management and data analytic solutions that assist them in making smart decisions about collateral valuations while significantly reducing the time and cost involved in processing mortgage loans. Solidifi offers an established suite of products and services including Solidifi iQ(TM) which is a dynamic, multi-dimensional rating of an appraiser's report quality, competency and professionalism on the Solidifi National Appraiser Network. Solidifi iQ(TM) considers appraiser credentials, report quality assessed during the report review process, and client feedback and applies configurable weightings aligned to a lender's policies and preferences - which is unique in the industry. "Lenders require accurate valuations from professional appraisers who can confidentially prove their ability to deliver quality results, on time and at a fair price," said Smith. "Solidifi is the only company that can deliver that, and we do it in a completely transparent, fully compliant manner. We are proud to be open for business." The company has been pleased with the speed with which many high quality appraisers have applied for inclusion in the National Appraiser Network. Solidifi is attracting many appraisers that refused to work with appraisal management companies in the past because they were unwilling to split their fees. With Solidifi, they are paid 100 percent of the fee they charge. About Solidifi Inc. Solidifi is a leading provider of collateral valuation, risk management and data analytic services to the North American mortgage industry. Solidifi provides mortgage lenders and professionals with a flexible service platform for procuring collateral valuations from marketplace vendors and appraisers, with complete transparency and data to make "incredibly smart decisions". Solidifi currently serves leading global financial institutions and is located in Chicago and Toronto. For more information, visit www.solidifi.com. SOURCE: Solidifi Inc. Solidifi Inc. Mike Kraemer, 416-660-3957 Fax: 905-739-1222 [email protected] www.solidifi.com [ Back To TMCnet.com's Homepage ]