Solidifi's technology to enable independent and fully transparent collateral valuation marketplace with integrated risk management capabilities CHICAGO, May 12
CHICAGO, May 12 /PRNewswire/ -- Solidifi Inc., a leading technology-based
provider of collateral valuation and risk management services in Canada,
announced today that it has opened its U.S. head office in Chicago, Illinois,
and extended its suite of solutions into the national mortgage market.
"We have assembled a high performance and experienced financial services
team to execute our strategy," says Jason Smith, President and CEO of
Solidifi, and co-founder of Basis100. "Through our work with U.S. based
lenders and global mortgage insurance companies, we are well prepared to
provide immediate solutions to the collateral risk assessment challenges
currently facing the mortgage industry."
In light of impending market changes surrounding the introduction of the
Home Valuation Code of Conduct ("HVCC"), Solidifi has invested significant
resources preparing its Solidifi Values(TM) collateral management platform for
the U.S. market, offering mortgage professionals, lenders, and investors with
solutions that are flexible and provide transparency in collateral valuations.
This is further enhanced through the company's risk management solutions
including Solidifi Insight(TM) which allows lenders and secondary market
participants to enforce collateral policy requirements and detect areas of
risk within appraisal and AVM reports during the underwriting process.
"Solidifi's fully transparent model is founded on the premise of appraiser
independence, quality, and speed -- not just the lowest fee," states Mr.
Smith. "Appraisers conduct business with mortgage participants by setting
their own fees, and competing in an open market based on real-time service,
speed, and quality metrics. With our configurable and automated assignment
algorithms, mortgage participants can set their collateral policy
geographically and allow Solidifi to transparently manage the valuation
transaction within an HVCC compliant framework as required. Collateral risk
management is further enhanced with Solidifi's collateral decision tools and
automated appraisal review capabilities."
Regulatory compliance is a fundamental contributor to appraisal quality
and acceptability for use in mortgage lending. Annual USPAP issuance,
additional state and federal requirements, and changing end investor
requirements will continue to be key drivers to collateral risk management
protocol. Solidifi enforces compliance to the lender's requirements throughout
the lifecycle of the appraisal, from order through to acceptance.
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 operates
Canada's largest appraiser network. Solidifi is located in Toronto, ON and
Chicago, IL. For more information, visit www.solidifi.com.
For more information, please contact:
Mike Kraemer
Solidifi Inc.
Two Prudential Plaza
180 North Stetson Suite 3500
Chicago, IL 60601
Tel: 312-268-5679
Fax: 312-268-5801
Email: mkraemer@solidifi.com
Web: www.solidifi.com
SOURCE Solidifi Inc.
