Press Releases
Nov
Real Matters Ranked Among The Three Fastest Growing Canadian Technology Companies In the Deloitte Technology Fast 50™
Markham, Ontario, November 23, 2012 -- It's another milestone for Real Matters, a leading provider of property insights to the North American mortgage and property and casualty (P&C) insurance industries. The company has bested its ranking in the Deloitte Technology Fast 50, a ranking of the 50 fastest growing technology companies in Canada based on the percentage of revenue growth over five years. Real Matters' percentage of revenue growth from 2007 to 2011 increased by 8,961%, advancing its ranking from number five in 2011 to number three today.
According to Real Matters' President and CEO Jason Smith, the key element of this achievement is redihive™, the organization's cloud-based network platform. "Real Matters brings together the components required to effectively provide property information services: subject matter expertise, property insights gathered through a partnership with a growing network of field agents and the technological power of redihive™. This combination works to provide a solution that helps our clients make incredibly smart decisions."
For 15 years the Technology Fast 50 program has celebrated the world-class achievements and evolution of the Canadian technology sector and recognized the passion and vision of the entrepreneurs who drive the sector. Its awards and rankings are presented in distinct categories that reflect the unique strengths of Canadian innovation. Technology Fast 50 companies are small, large, public and private. They span industry sectors and are defined by their leadership position in developing hardware, software and telecom.
To qualify for the Deloitte Technology Fast 50 ranking, companies must have been in business for at least five years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, and conduct research and development activities in Canada. A panel of industry experts evaluates and judges companies based on four key criteria: competitive advantage; size, growth, and market attractiveness; management effectiveness and organization; and financial performance.
About Real Matters
Serving the North American mortgage industry through its Solidifi offering and the property and casualty (P&C) insurance industry through its iv3 CUS business, Real Matters creates powerful insights into residential and commercial properties. Leveraging its cloud-based technology platform, redihive™, the organization provides its customers with subject matter expertise gathered through partnerships with more than 18,000 field agents. Established in 2004, Real Matters has its Canadian head office in Markham, Ontario and U.S. office in Chicago, Illinois. Additional information about Real Matters is available at www.realmatters.com.
For more information, please contact:
Jaime Lea Foss, Vice President,
Marketing & Communications
Solidifi
(905) 695-3969
jfoss@realmatters.com
Feb
Real Matters Named One Of Canada's 50 Best Managed Companies
Markham, ON – (February 21, 2012) – Real Matters, a leading provider of property insights to the North American mortgage and property and casualty (P&C) insurance industries today announced it is a 2011 winner of Canada's 50 Best Managed Companies program.
The award is the crowning achievement in a year full of accolades for Real Matters. The company rapidly expanded its customer base and now conducts business with many of the top 50 mortgage lenders in the United States, several of the top Canadian banks and numerous leading North American insurance companies. Additionally, Real Matters was ranked the 7th fastest growing North American technology company on the Deloitte Fast 500TM.
Jason Smith, Real Matters' President and CEO, credits the achievement to the dedication of his organization's smart, committed employee base and partnerships with more than 18,000 field agents. Says Smith, "Our innovative approach in determining real estate valuations and property risk has resonated with our banking and insurance customers. This accomplishment, which distinguishes Real Matters as both a fast growing and well managed organization, is a direct result and I'd like to thank everyone involved."
"We believe that there are three vital building blocks to sustainable growth: strategy, capability and commitment; Real Matters has demonstrated it is a model of success in all three areas and is duly recognized as one of Canada's Best Managed," explains John Hughes, Partner, Private Company Services group with Deloitte, a national sponsors of the Best Managed program.
About Canada's Best Managed Companies
Canada's 50 Best Managed Companies continues to be the mark of excellence for Canadian- owned and managed companies with revenues over $10 million. Every year since the launch of the program in 1993, hundreds of entrepreneurial companies have competed for this designation in a rigorous and independent process that evaluates their management skills and practices. The awards are granted on three levels: 1) Best Managed winner (one of the 50 new winners selected each year); 2) Re-qualified member (repeat winners retain the Best Managed designation for two additional years, subject to annual operational and financial review); 3) Gold Standard winner (After three consecutive years of maintaining their Best Managed status, these winners have demonstrated their commitment to the program and successfully reapplied for the designation. Companies may re-qualify for two additional years, subject to annual operational and financial review; 4) Platinum Club member (winners that maintain Best Managed status for a minimum of six consecutive years). Program sponsors are Deloitte, CIBC, National Post and Queen's School of Business. For further information, visit www.canadas50best.com. Visit the online community for private companies the Best Managed channel on the Financial Post Executive site: http://www.financialpost.com/executive/best- managed/index.html.
About Real Matters
Serving the North American mortgage industry through its Solidifi offering and the property and casualty (P&C) insurance industry through its iv3 CUS business, Real Matters creates powerful insights into residential and commercial properties. Leveraging its cloud-based technology platform, redihiveTM, the organization provides its customers with subject matter expertise gathered through partnerships with more than 18,000 field agents. Established in 2004, Real Matters has its Canadian head office in Markham, Ontario and U.S. office in Chicago, Illinois. Additional information about Real Matters is available at www.realmatters.com.
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For more information, please contact:
Brent Artemchuk, Vice President, Marketing & Communications
Real Matters
(905) 695-3969
bartemchuk@realmatters.com
Feb
Real Matters Announces Successful Completion of C$22 Million Growth Capital Financing
Toronto, On (Feb 08, 2012) – Real Matters, a leading provider of property insights to the North American mortgage and property and casualty (P&C) insurance industries, today announced the completion of its recent growth financing. The initiative, which provides C$22 million of common equity and debt facilities, will enable the organization to continue its strong organic growth and execute on its acquisition plan.
This growth financing caps a successful 2011 for Real Matters. The company rapidly expanded its customer base and now conducts business with many of the top 50 mortgage lenders in the United States, several of the top Canadian banks and numerous leading North American insurance companies. Additionally, Real Matters was ranked the 7th fastest growing North American technology company on the Deloitte Fast 500TM and 6th in the 'Growth Companies' category of the Branham 300.
"We're very pleased to complete this growth financing as it allows us to kick our strategic plan into high gear," says Real Matters' President and CEO, Jason Smith. "With this new capital and the technological power of our redihiveTM platform, we'll continue to expand into new markets, grow our existing businesses and fully leverage our partnership with a network of more than 18,000 field agents. Ultimately, this combination provides a win-win for all Real Matters stakeholders including our customers, employees, partners, and shareholders. I'm pleased to have our new investors onboard for this next stage of growth."
BMO Capital Markets served as sole agent for the financing. Fraser Milner Casgrain LLP served as legal advisor to Real Matters.
About Real Matters
Serving the North American mortgage industry through its Solidifi offering and the property and casualty (P&C) insurance industry through its iv3 CUS business, Real Matters creates powerful insights into residential and commercial properties. Leveraging its cloud-based technology platform, redihiveTM, the organization provides its customers with subject matter expertise gathered through partnerships with more than 18,000 field agents. Established in 2004, Real Matters has its Canadian head office in Markham, Ontario and a U.S. office in Chicago, Illinois. Additional information about Real Matters is available at www.realmatters.com.
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For more information, please contact:
Brent Artemchuk, Vice President, Marketing & Communications
Real Matters
(905) 695-3969
bartemchuk@realmatters.com
Nov
Appraisal Management Company Launches Solidifi DesktopIntelTM
Solution Collaborates With Local Appraisers To Deliver CUSPAP Compliant Desktop Appraisal Reports In Two Hours Or Less
Toronto, On (November 23, 2011) – Solidifi, a leading next generation real estate appraisal management company, today announced it has launched Solidifi DesktopIntel. Solidifi DesktopIntel provides CUSPAP compliant desktop appraisal reports for mortgage loans to Canadian banks and other mortgage lenders. The solution offers urban and suburban coverage through a national network of 3,500 professional appraisers with reports available in two hours or less.
According to Solidifi Executive Vice President, Guy Bantleman, Solidifi DesktopIntel fills an industry gap. "Lenders are looking for a step-up solution to automated valuations for certain mortgage loans where a full interior appraisal is not appropriate. Solidifi DesktopIntel fulfills this need through an easy to use, internet-based solution."
To ensure Solidifi DesktopIntel meets the requirements of mortgage lenders, Solidifi works with a national network of appraisers who have a thorough understanding of the subject property's neighbourhood. Through proprietary technology, Solidifi provides these local experts with information about a specific property in real time. The appraiser then downloads this information to their desktops using their choice of appraisal report software. Finally, they complete the report by expanding on the data and providing professional analysis. Ultimately, lenders receive a Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP) compliant appraisal containing property attributes, photographs, maps, value points, comparables and neighbourhood descriptions. The final report also carries the errors and omissions insurance of the appraiser.
Bantleman concludes, "By leveraging Solidifi DesktopIntel, our lender customers are able to access high quality, local market experts who can provide the value of subject properties. And, it's available within two hours. Lenders also have the advantage of a seamless transition should they wish to upgrade the appraisal to a full interior inspection. Overall, Solidifi DesktopIntel really is an industry win."
About Solidifi
Solidifi is a leading provider of appraisal management solutions to the North American financial services industry. The organization offers a flexible technology platform for procuring collateral valuations from an elite network of full fee appraisers who openly compete for business based on speed, quality and price. Named one of Mortgage Technology Magazine's 'Top 50 Service Providers' for 2010-11, Solidifi is located in Chicago, Illinois. Additional information about Solidifi is available at www.solidifi.com.
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For more information, please contact:
Brent Artemchuk, Vice President, Marketing & Communications
Solidifi U.S.
(905) 695-3969
bartemchuk@solidifi.com
Oct
Solidifi Selected As A UCDP Integration Platform Provider By Fannie Mae And Freddie Mac
Chicago, IL (October 24, 2011) – Solidifi U.S., the leading full-fee appraisal management services provider, today announced that it will serve as one of the Uniform Collateral Data Portal®(UCDP®) integration platform providers for Fannie Mae and Freddie Mac. The UCDP, part of the Uniform Mortgage Data Program® (UMDP®), is the single portal for submission of electronic appraisal data files to the Government Sponsored Enterprises (GSEs).
Loren Cooke, EVP, Solidifi US said, "I'm thrilled we're an integration platform provider and working with Fannie Mae and Freddie Mac. We've worked incredibly hard to earn the trust of our lender and appraiser partners and we look forward to providing a value- added service that allows existing and future clients to seamlessly submit Uniform Appraisal Dataset (UAD) compliant appraisals to the GSEs at no charge."
Solidifi is currently developing its integration platform solution and plans to have it ready by November 1, 2011. The platform will provide lenders with a link to the UCDP portal. Once completed, the solution will allow Solidifi's lender customers to submit UAD compliant appraisal reports to the GSEs seamlessly through the aid of several time-saving features.
Added Cooke, "As a next generation appraisal management company, Solidifi has always focused on treating appraisers as business partners and providing clients with higher quality appraisals. These factors, of course, are the cornerstone of UMDP."
UMDP is intended to improve the quality and consistency of appraisal data on loans delivered to the GSEs. The initiative includes the UAD, the UCDP and the Uniform Loan Delivery Dataset (ULDD). According to UMDP guidelines, appraisals must comply with UAD requirements by September 1, 2011. Additionally, lenders are required to collect fully compliant appraisal reports on loan applications dated on or after December 1, 2011. As of March 19, 2012, lenders must electronically deliver fully UAD-compliant report data for loans with application dates on or after December 1, 2011. Additionally, loan delivery data – as well as additionally required data fields – must be provided in industry standard XML format, unless manually entered in the GSE loan delivery applications.
About Solidifi
Solidifi is a leading provider of appraisal management solutions to the North American financial services industry. The organization offers a flexible technology platform for procuring collateral valuations from an elite network of full fee appraisers who openly compete for business based on speed, quality and price. Named one of Mortgage Technology Magazine's 'Top 50 Service Providers' for 2010-11, Solidifi is located in Chicago, Illinois. Additional information about Solidifi is available at www.solidifi.com.
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For more information, please contact:
Brent Artemchuk, Vice President, Marketing & Communications
Solidifi U.S.
(905) 695-3969
bartemchuk@solidifi.com
Oct
Canada's Real Matters Ranked 7th Fastest Growing Company In North America On Deloitte's 2011 Technology Fasst 500TM
TORONTO, ON (October 19, 2011) – Real Matters Inc., a leading provider of real estate property insights to the North American mortgage and property and casualty (P&C) insurance industries, today announced that it ranked 7th on the Technology Fast 500, Deloitte's ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the previous five years. Real Matters grew 28,265% percent during this period.
Jason Smith, Real Matters' President and CEO, credits his organization's cloud-based network platform redihiveTM, partnerships with more than 18,000 field agents and smart, dedicated employee base with the company's growth. Says Smith, "Our innovative approach in determining real estate valuations and property risk has resonated with our banking and insurance customers. This Fast 500 achievement is a direct result and I'd like to thank everyone involved."
"Real Matters and all the Technology Fast 500 winners in 2011 have shown remarkable drive for creativity and innovation, and of course growth, particularly when you look at their accomplishments in the context of current economic challenges," said Richard Lee, National Leader, Technology Media and Telecommunications Industry Group, Deloitte Canada. "Deloitte congratulates Real Matters for this significant achievement."
"We are pleased to honor Real Matters as one of the 2011 Technology Fast 500," said Mark Jensen, Managing Partner, Technology and Venture Capital Services, Deloitte & Touche LLP. "As one of the fast growing tech companies in North America, Real Matters has demonstrated technological innovation, entrepreneurship and rapid growth."
About Real Matters
Serving the North American mortgage industry through its Solidifi offering, and the property and casualty (P&C) insurance industry through its iv3 CUS business, Real Matters creates powerful insights into residential and commercial properties. Through its cloud-based environment redihiveTM, the organization provides subject matter expertise and property insights gathered through partnerships with more than 18,000 field agents. Real Matters has its Canadian head office in Markham, Ontario and U.S. office in Chicago, Illinois. Additional information about Real Matters is available at www.realmatters.com.
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For more information, please contact:
Brent Artemchuk, Vice President, Marketing & Communications
Solidifi
(905) 695-3969
bartemchuk@solidifi.com
As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services many not be available to attest clients under the rules and regulations of public accounting.
Oct
Real Matters Ranked The 5th Fastest Growing Canadian Technology Company In the Deloitte Technology Fast 50TM
TORONTO, ON (October 19, 2011) – Real Matters, a leading provider of property insights to the North American mortgage and property and casualty (P&C) insurance industries, is ranked among the Deloitte Technology Fast 50TM, a ranking of the 50 fastest growing technology companies in Canada, based on the percentage of revenue growth over five years. Real Matters' increase in revenues of 28,265% percent from 2006 to 2010 resulted in a number five ranking.
For 14 years, the Deloitte Technology Fast 50 program has tracked the successful growth of Canadian-grown global leaders. Now Canada's pre-eminent technology award program, the Deloitte Technology Fast 50 augments the broader Deloitte North American Technology Fast 500 initiative, with winners automatically eligible for this elite ranking.
"Canadian technology companies have demonstrated some very impressive growth numbers over the past year, amid the challenges of an uncertain global economic recovery," said Richard Lee, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. "Real Matters is an example of the determination, drive and skill that will serve to position them for further growth and success in the years to come."
According to Real Matters' President and CEO Jason Smith, the key element of this achievement is redihiveTM, the organization's cloud-based network platform. "Real Matters brings together the components required to effectively provide property information services: subject matter expertise, property insights gathered through a partnership with a growing network of field agents and the technological power of redihiveTM. This combination works to provide a solution that helps our clients make incredibly smart decisions. Thanks to everyone who helped us achieve this honour."
To qualify for the Deloitte Technology Fast 50 ranking, companies must have been in business for at least five years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, and conduct research and development activities in Canada. A panel of industry experts evaluate and judge companies based on four key criteria: competitive advantage; size, growth, and market attractiveness; management effectiveness and organization; and financial performance.
 About the Deloitte Technology Fast 50
The Deloitte Technology Fast 50TM program is Canada's pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features four distinct categories including the Technology Fast 50 Ranking, Companies-to-Watch Awards (early-stage Canadian tech companies in business less than five years, with the potential to be a future Deloitte Technology Fast 50 candidate,) Leadership Awards (companies that demonstrate technological leadership in four industry subcategories: hardware/semiconductor, software, telecommunications and emerging technologies) and the Deloitte Technology Green 15 Awards (Canada's leading GreenTech companies that promote a more efficient use and re-use of the earth's resources in industrial production and consumption.) Program sponsors include Deloitte, Gowlings, GrowthWorks, TMX Group, Wellington Financial, HKMB Hub International, National Angel Capital Organization, CVCA, MaRS and IGLOO Software. For further information, visit www.fast50.ca.
About Real Matters
Serving the North American mortgage industry through its Solidifi offering, and the property and casualty (P&C) insurance industry through its iv3 CUS business, Real Matters creates powerful insights into residential and commercial properties. Through its cloud-based environment redihiveTM, the organization provides subject matter expertise and property insights gathered through partnerships with more than 18,000 field agents. Real Matters has its Canadian head office in Markham, Ontario and U.S. office in Chicago, Illinois. Additional information about Real Matters is available at www.realmatters.com.
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For more information, please contact:
Brent Artemchuk, Vice President, Marketing & Communications
Solidifi
(905) 695-3969
bartemchuk@solidifi.com
As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services many not be available to attest clients under the rules and regulations of public accounting.
Oct
Solidifi U.S. Announces Retirement Of President, Griff Straw
Chicago, IL (October 10, 2011) - Solidifi U.S., the leading full-fee appraisal management services provider, today announced that its president, Griff Straw, CMB, will transition to Chair of the organization's Advisory Board, effective immediately. The transition is a step towards Straw's move towards retirement.
According to Solidifi President and CEO, Jason Smith, Straws' leadership and guidance was a driving force behind the organization's growth. "I'd like to thank Griff and acknowledge his significant contributions to Solidifi U.S., both in terms of leadership and helping to build a company highly regarded by staff, customers and partners," he says. "Griff's guidance, dedication and enthusiasm for the mortgage industry was especially valuable to me as we worked to grow this company. I wish him success in retirement and his new life in warmer climates. I'm also looking forward to continuing our relationship in his role on our Advisory Board."
Straw is a 30 year mortgage banking industry veteran. As past-Vice President of Industry Relations for United Guaranty, he managed relationships with Federal National Mortgage Association (FNMA), Freddie Mac, Federal Home Loan Banks (FHLB), as well as various industry groups including Mortgage Bankers Association (MBA) and American Banking Association (ABA). In 2003, Straw won United Guaranty's Discovery Award for his role in developing the company's Broker Xpress program. Prior to United Guaranty, Griff was responsible for Strategic Opportunities for Freddie Mac in its Business and Product Development groups.
Straw received his designation as a Certified Mortgage Banker (CMB) from the Mortgage Bankers Association of America in 2000. In October 2003, he was inducted as a CMB fellow recognizing his support of the CMB society. In 2006, he was elected to the leadership of the CMB Society, ultimately acting as the Immediate Past Chairman and CMB Strategic Initiatives Committee Chair.
Upon Straw's retirement, Loren Cooke, current EVP of Solidifi U.S. assumes Straw's responsibilities. Cooke has more than 15 years of industry related experience deploying business solutions to the financial services market and has been with the organization for more than 3 years. Says, Smith, "As he opens a new chapter in his life, I'm confident that Loren and his team will build upon Griff's legacy and relationships. We're planning a seamless transition, so our lender and appraiser partners will notice no disruptions."
About Solidifi
Solidifi is a leading provider of next generation appraisal management solutions to the North American financial services industry. The organization offers a flexible service platform for procuring collateral valuation from marketplace vendors and appraisers that allows its customers to make incredibly smart decisions. Named one of Mortgage Technology Magazine's 'Top 50 Service Providers' for 2010-11, Solidifi is located in Chicago, Illinois. Additional information about Solidifi is available at www.solidifi.com.
For more information, please contact:
Brent Artemchuk, Vice President, Marketing & Communications
Solidifi
(905) 695-3969
bartemchuk@solidifi.com
Jul
Kasting 4 Kids Rehab Fly Fishing Event Raises $175,000 For Holland Bloorview Kids Rehabilitation Hospital Foundation
TORONTO, ON (July 26, 2011) – Real Matters, a leading provider of property insights to the North American mortgage and property and casualty (P&C) insurance industries, today announced its charitable foundation helped raise $175,000 at the second annual Kasting 4 Kids Rehab fly fishing event. The event occurred April 21, 2011 at Ontario's Franklin Club. Kasting 4 Kids Rehab was created to support children with disabilities and their families at Holland Bloorview Kids
Rehabilitation Hospital, Canada's largest children's rehabilitation teaching hospital. According to Real Matters President and CEO, Jason Smith, Kasting 4 Kids Rehab is distinctive among fundraising events. "With so many golf, walk and run events competing for the charitable dollars of Toronto's professional community, it's important to continue offering a truly unique event," he says. "The distinctiveness of Kasting 4 Kids really separates us from the crowd and helps drive our success. And, I'm happy to say that all sponsorship levels sold out. More important, we raised $175,000 for an amazing cause. Special thanks to everyone, including our sponsors and sponsorship committee, the event committee and The Franklin Club for making it all happen. I'm really looking forward to next year."
Valerie McMurtry, President and CEO, Holland Bloorview Kids Rehabilitation Hospital Foundation, echoes Smith's sentiments: "The uniqueness of the event absolutely contributed to its success," she says. "We are thrilled that Kasting 4 Kids was created especially for Holland Bloorview. Community and corporate partners see the unlimited potential in children with disabilities and believe that together we will succeed in creating a world without limits."
Kasting 4 Kids Rehab featured one-on-one instruction from Canada's fly fishing expert, Ian James, and the support of 20 of Ontario's top fly fishing guides. It was sponsored by leaders in Toronto's financial and professional community, including BMO; Altus Group; RBC; Genworth Financial, HKMB/HUB International; CIBC; Whitecastle Investments; Macquarie; Torys, Paradigm; National Bank; Davis + Henderson; Davies Ward Phillips & Vineberg; HSBI Benefits; PWC; Solidifi; iv3; and FMC. Non-financial sponsors included With A Fly Tackle Shop; Westjet; Nicholas Dean Lodge; Insinc Promotions; Ash City Worldwide; Tim Hortons; Cisco Systems; Bolts Plus; Mr. Janitorial Supplies and The Franklin Club.
The Franklin Club again acted as home to Kasting 4 Kids Rehab. The venue has a rich association with Ontario's professional community and it's located within the Greater-Toronto-Area. The Club was established as a weekend retreat in 1909 by a group of doctors from Toronto's St. Michael's Hospital. Today, the club occupies 200 acres within the Oak Ridges Moraine and is a member-owned, private recreational fishing club specializing in fly-fishing for rainbow and speckled trout. Jim Oosterbroek, Manager of the Franklin Club said, "The Club is thrilled to be associated with Kasting 4 Kids Rehab and honoured to have hosted the event for a second year. We're looking forward to many more years of fundraising."
About Real Matters
Serving the North American mortgage and property and casualty (P&C) insurance industries, Real Matters creates powerful insights into residential and commercial properties. Through its cloud-based environment redihiveTM, the organization provides subject matter expertise and property insights gathered through partnerships with more than 18,000 global field agents. Real Matters has its Canadian head office in Toronto, Ontario as well as a U.S. office in Chicago, Illinois. Additional information about Real Matters is available at www.realmatters.com.
About Holland Bloorview
Holland Bloorview Kids Rehabilitation Hospital Foundation raises funds in the community for Holland Bloorview Kids Rehabilitation Hospital. Holland Bloorview is Canada's largest children's rehabilitation teaching hospital. The hospital pioneers treatments, technologies, therapies and real-world programs that give children with disabilities the tools to participate fully in life. For more information, please visit: www.hollandbloorviewfoundation.ca
For more information, please contact:
Brent Artemchuk, Vice President, Marketing & Communications
Solidifi
(905) 695-3969
bartemchuk@solidifi.com
Jun
iv3 Loss Control Solutions Expands PropertyIntelTM Service Canada-Wide Network Of More Than 3,000 Field Agents Enhance Quality And Coverage
TORONTO, ON (June 6, 2011) – iv3 Loss Control Solutions, one of North America's leading providers of technology-based inspection and risk analysis solutions to the property and casualty insurance industry, today announced it has enhanced the quality and geographic coverage of its PropertyIntel service.
PropertyIntel is a technology-enabled service that combines property information with third party replacement costs and other analytics validated through iv3's quality assurance capabilities. Until now, property information was provided only through integrated databases such as property tax information. Now, PropertyIntel leverages physical inspections from the company's network of more than 3,000 Canadian field agents – a group which includes both insurance inspectors and residential property appraisers. These inspections, conducted across the country, increase the quality and timeliness of reports which are delivered within 15 business days, guaranteed.
According to Angelo Grossi, President of iv3, the enhancements will significantly benefit the organization's insurance clients. "From a customer perspective, this is exciting news," he says. "Not only will they benefit from the increased quality and coverage generated by our massive network of field agents, but they'll also receive reports in 15 business days, guaranteed. That turnaround time is simply unheard of in the industry today. PropertyIntel's combination of bricks and clicks is definitely a winning formula."
Victoria British Columbia-based residential appraiser Andrea Skinner is part of iv3's field agent network. "I'm thrilled to work with iv3 and deliver inspections for PropertyIntel," she says. "And, because the partnership provides me with both property inspections and home appraisal assignments, we're helping each other be more productive for our common customers. It's really a win-win for everyone."
PropertyIntel provides insurance companies with four levels of service. These include: iv3 PropertyIntel PingTM, a real time, web-based insurance-to-value estimate; iv3 PropertyIntel HazardsTM, a report that provides risk recommendations based on an on- site exterior inspection; iv3 PropertyIntel Exterior+TM, a report that offers insurance-to- value estimates and risk recommendations based on an on-site exterior inspection; and iv3 PropertyIntel FullTM, a report that offers insurance-to-value estimates and risk recommendations based on an on-site interior and exterior inspection.
Additionally, the extensive network of field agents ensures iv3 is able to conduct inspections in all areas of Canada, including typically harder-to-reach areas such as Northern British Columbia and Northern Alberta. PropertyIntel's 15 business day delivery time also helps insurance companies remain well within the Insurance Brokers Association of Ontario (IBAO) guidelines with respect to conducting and reviewing appraisals within a 90 day period.
About iv3 Solutions
iv3 Loss Control Solutions is a technology driven property and casualty insurance inspection provider. Through the cloud-based redihiveTM environment, the organization provides residential and commercial property inspection, risk analysis and insurance-to- value information gathered through partnerships with more than 18,000 North American field agents. The organization is headquartered in Toronto, Ontario. More information is available at www.iv3solutions.com.
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For more information, please contact:
Brent Artemchuk, Vice President, Marketing & Communications
Solidifi
(905) 695-3969
bartemchuk@solidifi.com
Apr
Real Matters Achieves Two Rankings On The 2011 Branham300 List Of Top Canadian Technology Companies
TORONTO, ON, April 5, 2011 - Real Matters, a leading provider of property insights to the North American mortgage and property and casualty (P&C) insurance industries, today announced it achieved two positions on the 2011 Branham300 list of Canada's top information and communication technology (ICT) companies. Real Matters was ranked sixth in the Top 10 Growth Companies category and number 83 in the Top 250 Canadian ICT Companies category.
According to Real Matters' President and CEO Jason Smith, the key to this achievement is redihive™, the organization's cloud-based technology environment. "We bring together the components required to effectively provide property information services: subject matter expertise and property insights gathered through North American field agent partnerships. When these are fused through the technological power of redihive™ we're able to provide dramatic improvements in the process of valuing real estate for mortgage lending as well as assessing risk and determining replacement costs for P&C insurance companies. This innovative business model has definitely resonated with our customers, leading to this prestigious achievement. Thanks to everyone who contributed to our success. "
"In a very short period of time, Real Matters has emerged onto the Canadian ICT scene and solidified itself as an up and coming leader," said Wayne Gudbranson, President and CEO of Branham Group. "The level of growth that Real Matters has generated, given the challenging economic climate, is truly impressive. Branham is proud to recognize Real Matters as one of the fastest growing companies in Canada's ICT Industry in 2010, and we look forward to tracking the firm's success in the future."
The Branham300 rates Canadian IT companies primarily based on sales revenue generation. The listing is featured in the April/May 2011 edition of Backbone Magazine.
About Real Matters
Serving the North American mortgage and property and casualty (P&C) insurance industries, Real Matters creates powerful insights into residential and commercial properties. Through its cloud-based environment redihive™, the organization provides subject matter expertise and property insights gathered through partnerships with more than 17,000 global field agents. Real Matters has its Canadian head office in Toronto, Ontario as well as a U.S. office in Chicago, Illinois. Additional information about Real Matters is available at www.realmatters.com.
About Branham Group Inc.
Branham Group is a leading industry analyst and strategic consulting firm servicing the global information technology marketplace. Branham Group assists information technology companies and related institutions in achieving market success through its custom consulting services (Planning, Marketing and Partnering), and through its multi-client research subscription programs (Digital Health and Green IT). Branham also produces an annual listing of the top information and communications technology (ICT) companies in Canada (www.branham300.com), tracks the Canadian Outsourcing industry (www.branhamoutsourcing.com) and monitors over 450 Digital Health vendors. For more information regarding Branham Group, please visit www.branhamgroup.com.
For more information, please contact:
Brent Artemchuk, Vice President, Marketing & Communications
Solidifi
(905) 695-3969
bartemchuk@solidifi.com
Feb
Solidifi Launches Appraiser-Driven Charitable Program To Support Children With Disabilities
TORONTO, ON, February 25, 2011 - Solidifi, a leading real estate appraisal management firm, today launched the Buck At A Time charitable program at Holland Bloorview Kids Rehabilitation Hospital. Through the program, members of Solidifi's appraiser network can donate one dollar from their appraisal fee to charity. Buck At A Time donations will fund local programs and research at Holland Bloorview and expand to include other children's rehabilitation centers across Canada.
According to Solidifi President and CEO, Jason Smith, Buck At A Time's appraiser-driven focus separates it from other industry charity programs. "At its core, Buck At A Time is about unlocking the power of our 3,000 strong Canadian appraiser network," he says. "Imagine the difference they can make simply by donating a dollar or more from each appraisal transaction to benefit the communities in which they live and work. I'm thrilled that Solidifi is not only able to strengthen the relationships our appraiser partners have with their communities, but also to launch the first program of its kind in the industry."
Smith initiated Buck At A Time in response to a life changing event. In 2007, his six-year-old son nearly lost his life battling bacterial meningitis. Through Holland Bloorview's rehabilitation programs and services, his son made a complete recovery. As a result, Smith and his family are committed to supporting the work of children's rehabilitation centers. Smith expects 90% of annual donations to fund local children's rehabilitation hospitals in the form of mobility devices, therapy, respite care, home improvements and support for families; 10% of annual donations will fund research of childhood disability at Holland Bloorview, which positively impacts children with disabilities globally.
Michael Kal, President, Cornerstone Property Appraisals and Consulting, was one of the first appraisers to enroll in the program. "I'm proud to be associated with Buck At A Time," he says. "On behalf of all appraisers in Ontario, I truly appreciate the opportunity to make a difference in the community."
Photo: Michael Kal, President, Cornerstone Property Appraisals and Consulting (L); Jason Smith, President and CEO, Solidifi.
Says Valerie McMurtry, President and CEO of Holland Bloorview Kids Rehabilitation Hospital Foundation, "We are grateful to have corporate partners, like Solidifi. The support we receive from Solidifi's appraiser community will ensure children and their families have access to the best research in childhood disability focused on developing new technologies, testing new therapies and trying new approaches to enable kids to a better quality of life. We look forward to a long and meaningful partnership with Solidifi."
Adds Smith, "The program is a definite win-win for everyone involved: Appraisers can support a worthwhile cause and unite with their communities; children's rehabilitation hospitals such as Holland Bloorview can continue their important research, developing new therapies and technologies. And, as an organization, Solidifi can assist in the cause through fundraising events and connecting our appraisers with their communities. I'm extremely encouraged by the number of appraisers who've already embraced the program and I look forward to taking the program stateside later this year."
About Solidifi
Solidifi is a leading provider of appraisal management solutions to the North American financial services industry. The organization offers a flexible service platform for procuring collateral valuation from marketplace vendors and appraisers which allows its customers to make incredibly smart decisions. Named one of Mortgage Technology Magazine's 'Top 50 Service Providers' for 2010-11, Solidifi is headquartered in Toronto with an office in Chicago. Additional information about Solidifi is available at www.solidifi.com.
About Holland Bloorview
Holland Bloorview Kids Rehabilitation Hospital Foundation raises funds in the community for Holland Bloorview Kids Rehabilitation Hospital. Holland Bloorview is Canada's largest children's rehabilitation hospital. It pioneers treatments, technologies, therapies and real-world programs that give children with disabilities the tools to participate fully in life. For more information, please visit: www.hollandbloorviewfoundation.ca.
For more information, please contact:
Brent Artemchuk, Vice President, Marketing & Communications
Solidifi
(905) 695-3969
bartemchuk@solidifi.com
Sept
Real Matters Ranked The Second Fastest Growing Canadian Technology Company In the Deloitte Technology Fast 50
Toronto, September 23, 2010 - Real Matters, the parent company of Solidifi, a leading provider of property information services to the North American mortgage and P&C insurance industries, is ranked among the Deloitte Technology Fast50TM, a ranking of the 50 fastest growing technology companies in Canada, based on the percentage of revenue growth over five years. Real Matters' increase in revenues of 40,532% percent from 2005 to 2009 resulted in a number 2 ranking.
For more than 13 years, the Deloitte Technology Fast 50 program has tracked the successful growth of Canadian-grown global leaders. Now Canada's pre-eminent technology award program, the Deloitte Technology Fast 50 augments the broader Deloitte North American Technology Fast 500 initiative, with winners automatically eligible for this elite ranking.
"Canadian technology companies have demonstrated some very impressive growth numbers over the past year, amid the challenges of an uncertain global economic recovery," said John Ruffolo, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. "Real Matters is an example of the determination, drive and skill that will serve to position them for further growth and success in the years to come."
According to Real Matters' President and CEO Jason Smith, the key element of this achievement is redihiveTM, the organization's cloud-based technology environment. "Real Matters brings together the components required to effectively provide property information services: subject matter expertise and unique data. When fused through the innovative technology of redihiveTM, we provide a solution that helps our clients make incredibly smart decisions. Thanks to everyone who helped us achieve this honour."
To qualify for the Deloitte Technology Fast 50 ranking, companies must have been in business for at least five years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, and conduct research and development activities in Canada. A panel of industry experts evaluate and judge companies based on four key criteria: competitive advantage; size, growth, and market attractiveness; management effectiveness and organization; and financial performance.
About the Deloitte Technology Fast 50
The Deloitte Technology Fast 50TM program is Canada's pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features four distinct categories including the Technology Fast 50 Ranking, Companies-to-Watch Awards (early-stage Canadian tech companies in business less than five years, with the potential to be a future Deloitte Technology Fast 50 candidate,) Leadership Awards (companies that demonstrate technological leadership in four industry subcategories: hardware/semiconductor, software, telecommunications and emerging technologies) and the Deloitte Technology Green 15 Awards (Canada's leading GreenTech companies that promote a more efficient use and re-use of the earth's resources in industrial production and consumption.) Program sponsors include Deloitte, Gowlings, GrowthWorks, TMX Group, Wellington Financial, HKMB Hub International, National Angel Capital Organization, CVCA, MaRS and IGLOO Software. For further information, visit www.fast50.ca.
About Real Matters
Real Matters is a leading provider of property information services in North America. It fuses unique data gathered from a network of more than 17,000+ field agents with the technological power of its cloud-based redihiveTM environment to propel the next generation of businesses that provide insight into residential and commercial properties. The organization has its Canadian head office in Toronto, Ontario as well as a U.S. office in Chicago, Illinois. Additional information about Real Matters is available at www.realmatters.com.
Contact:
Brent Artemchuk
Director, Corporate Marketing & Communications
Real Matters
(905) 695-3969
bartemchuk@realmatters.com
Sept
Former Fidelity and United Guaranty VPs join next-generation appraisal management services company to help continue its dramatic growth.
Appraisal Management Leader Solidifi Names Mark Critchfield and Tony Laurito Vice Presidents of Business Development
Chicago, Illinois, September 20, 2010 - Solidifi U.S., the leading "full-fee" appraisal management services provider, announces that industry veterans Mark Critchfield and Tony Laurito have recently joined the company in the newly created positions of vice president, business development. Based in the San Francisco Bay Area, Critchfield is responsible for developing new strategic lender relationships as well as working with existing Solidifi clients in the 11 western states. Laurito is based in the New York area and will be working with new and current strategic lender clients as Solidifi continues its impressive growth in the mortgage industry.
Mark Critchfield joins Solidifi from Fidelity National Financial, where he was vice president and regional sales director for the company's entire suite of services, including appraisal, non-traditional property valuations, flood services, title and escrow. Prior, he spent several years with Fidelity National's Service Link/ATM Corporation unit in a key business development role. He has over 15 years of experience in lending, title, settlement services and mortgage insurance, and was the recipient of numerous awards in his various capacities.
Tony Laurito brings over 20 years of mortgage production and executive experience to Solidifi, most recently from an 11-year career with mortgage insurer United Guaranty, where he served as regional vice president of production and managed a sales team covering 14 states on both coasts. Earlier, he held lending and management positions with Bank of New York, First Fidelity Bank and Norwest Financial.
"Tony Laurito and Mark Critchfield join us at a great time," says Griff Straw, president of Solidifi U.S. "We have been experiencing phenomenal growth with our 'full-fee to appraisers' business model thanks to the higher quality valuation services it produces. "We needed additional senior industry professionals with top qualifications to help us continue to grow at this record pace." Straw reports that Solidifi has tripled its business since the beginning of the year and expects volume to double again within the next few months.
"Timing is everything," Laurito agrees. "Solidifi was designed from the ground up with all the quality-focused features that are now becoming mandatory under Dodd-Frank, and more. Lenders partnering with Solidifi to manage their appraisal process don't have to scramble to comply with the new rules, and at the same time they no longer have to sacrifice quality appraisal work when working with an AMC," he notes. "I am very much looking forward to helping clients find an immediate solution for their valuation concerns in the critical appraisal area."
Critchfield observes that the technology platform he found at Solidifi sets a new standard for the appraisal management industry. "Its capabilities are tremendous, with tracking and quality management metrics that give lenders and appraisers information they've never had before," he says. "Not only does it eliminate the cumbersome, people-intensive tasks that consume time, it vastly reduces costs so that we can pay full fees to appraisers and still avoid the consumer price increases that most other AMCs will be trying to sell to customers under Dodd-Frank," Critchfield says. "Solidifi brings a true competitive advantage to our clients."
About Solidifi
Solidifi is a leading provider of property valuation services to the North American financial services industry. Solidifi provides customers with a flexible service platform for procuring collateral valuation from marketplace vendors and appraisers, with complete transparency and data to make "incredibly smart decisions". Named among Mortgage Technology Magazine's "Top 50 Service Providers" for 2010-11, Solidifi currently serves leading global financial institutions and is located in Chicago and Toronto. Additional information about Solidifi is available at www.solidifi.com.
Press Contact:
Caroline Schweppe
Director, Marketing and Communications
Solidifi US Inc.
(905) 695-8396
cschweppe@Solidifi.com
Sept
Wellington Financial Provides $5 million in Growth Capital to Real Matters
Toronto, Ontario (September 16, 2010) - Wellington Financial LP, a privately-held specialty finance firm, today announced a $5 million venture debt financing for Real Matters of Toronto, Ontario. Real Matters is a leading provider of property information services in North America. Proceeds from the financing will provide additional working capital to further accelerate its strategic growth across Canada and the United States.
"Jason Smith and his team at Real Matters are revolutionizing the way in which information is gathered and then leveraged in real estate, and Real Matters' customers are the beneficiaries of this truly unique approach," said Mark Usher, Partner at Wellington Financial. "This transaction is another excellent example of how our True Growth Capital can benefit an already successful and rapidly growing company. We have a great deal of confidence in the Real Matters team and their global market potential."
Real Matters brings together the two most important elements required to effectively provide property information services: subject matter expertise and unique data. These elements are fused together through the organization's redihiveTM cloud-based technology environment, a community that enables a global network of field agents to create meaningful insights into residential and commercial properties. Serving multiple industries, Real Matters leverages redihiveTM through its Solidifi (appraisal management) and iv3 (property and casualty insurance inspections) businesses.
"Bringing Wellington Financial aboard as our newest partner allows us to capitalize on the strategic growth initiatives we have underway in Canada and the United States," said Real Matters President & CEO, Jason Smith. "We're pleased to have a premier North American debt firm on board so we can move forward in creating new market solutions."
Aird & Berlis LLP and Fraser Milner Casgrain LLP provided legal advice on this transaction.
Since 2004, Wellington Financial LP has led or participated in more than $340 million in transactions, making it one of the most active funds of its kind in North America.
About Wellington Financial LP
Wellington Financial LP is a privately-held specialty finance firm providing revolving lines of credit, term, venture and amortizing loans up to $40 million. Wellington Financial LP is currently managing a $450 million investment program via Wellington Financial Fund III, with offices in Toronto, Canada and Santa Monica, California. Wellington Financial LP is managed by a partnership controlled by fund management and Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to Fund III. LPs include several of Canada's largest institutional investors, crown corporations, financial institutions and pension funds. Please visit the fund website at www.wellingtonfund.com, or the Wellington Financial team blog at www.wellingtonfund.com/blog.
About Real Matters
Real Matters is the leading provider of property information services in North America. It fuses unique data gathered from a network of more than 17,000+ field agents with the technological power of its cloud-based redihiveTM environment to propel the next generation of businesses that provide insight into residential and commercial properties. The organization has its Canadian head office in Toronto Ontario as well as a U.S. office in Chicago. Additional information about Real Matters is available at www.realmatters.com.
For additional information:
Amy Olah
Marketing Manager, Wellington Financial LP
Tel: (416) 682-6002, aolah@wellingtonfund.com
Brent Artemchuk
Director, Corporate Marketing & Communications, Real Matters
Tel: (905) 695-3969, bartemchuk@realmatters.com
Aug
Former Chairman And CEO Of Macromedia And Board Member Of Adobe Systems A Strategic Asset
Real Matters Appoints Rob Burgess to Board of Directors
Former Chairman And CEO Of Macromedia And Board Member Of Adobe Systems A Strategic Asset
Toronto, Ontario, August 24, 2010 - Real Matters, a leading provider of property information services in North America, today announced it has appointed Rob Burgess to the company's Board of Directors. Burgess is the former Chairman and CEO of Macromedia Inc. and a board member of Adobe Systems Inc. Real Matters recently changed its name from Solidifi Inc. to facilitate expansion into cloud-based property information services.
According to Real Matters President and CEO, Jason Smith, Burgess's knowledge will be an asset to the organization's strategic direction. "Rob's leadership experience in the technology sector will allow us to strengthen our business strategy so we can deploy our unique property information to new market solutions. Rob also has a successful track record growing great, world-class companies, so we're excited to have him aboard."
Rob Burgess held the position of Chairman and CEO of Macromedia Inc. from 1996 - 2005. He was instrumental in leading Macromedia's transition from a CD-ROM based multimedia company to a market leader in web authoring and development solutions. Prior, Burgess was Chief Executive Officer of Alias Research Inc. There, he was responsible for developing the company into the world's leading high-performance 3D graphics software company.
Burgess joins Real Matters' Board of Directors along with other builders of successful technology and information services businesses, Mike Egan; Michael Diamond; Blaine Hobson; Jason Smith; Mark Wainberg; and Gary Yeoman.
Says Burgess, "Real Matters is rapidly establishing itself as an innovator in the property information services arena. In fact, the organization's ability to transform traditional services into cloud-based services is both impressive and progressive. I look forward to working with the organization and the other Board members."
About Real Matters
Real Matters is a leading provider of property information services in North America. It fuses unique data gathered from a network of more than 17,000 field agents with the technological power of its cloud-based redihiveTM environment to propel the next generation of businesses that provide insight into residential and commercial properties. The organization serves its stakeholders through its SolidifiTM (appraisal management solutions) and iv3TM (inspection and loss control solutions) brands. Real Matters has its Canadian head office in Toronto, Ontario as well as a U.S. office in Chicago, Illinois. Additional information about Real Matters is available at www.realmatters.com.
Contact:
Brent Artemchuk
Director, Corporate Marketing & Communications
Real Matters
(905) 695-3969
bartemchuk@realmatters.com
Aug
Merger Creates The Second Largest Provider of Unique Property Information To Canada's P&C Insurance Industry
iv3 Solutions Merges With Canadian Underwriting Services
Merger Creates The Second Largest Provider of Unique Property Information To Canada's P&C Insurance Industry
Toronto, Ontario, August 3, 2010 - On July 28, 2010, inspection and loss control provider iv3 Solutions announced it had merged with Canadian Underwriting Services (CUS). The merger creates the second largest provider of unique property information, inspection and loss control services to Canada's property and casualty insurance industry.
Says iv3's Executive Vice President, David Newall: "We view this venture as a partnership, rather than an acquisition. CUS has valuable insurance inspection and loss control experience as well as an incomparable reputation for service excellence. iv3 prides itself on its innovation through technology which provides the marketplace with real time access to unique property information. Together, we can offer our combined customer base enhanced services and faster turnaround times. It's 'win-win' for all stakeholders."
The goal of the partnership is to create North America's largest inspection and property data services company within the next five years. To achieve this goal, iv3 will leverage its agile technology development methodology and CUS' trusted brand within the insurance industry. CUS/iv3 will provide its customers with access to unique property data on up to 6 million properties in Canada by 2011.
According to Angelo Grossi, President of CUS, "I'm confident the new organization will provide exceptional value for Canadian insurers and I'm excited about the new products and services we can leverage. Overall, the integration will be seamless and all of our customers' key points of contact will remain the same."
About iv3 Solutions
iv3 Solutions is a Canadian-based, technology driven inspection and loss control solutions provider. The organization provides unique property data, real time property reporting tools and a field services inspection network to North American property and casualty insurers. iv3 is headquartered in Toronto, Ontario, with regional offices in Montreal, Calgary, and Chicago. iv3 is a wholly-owned subsidiary of Real Matters.
About Canadian Underwriting Services
Established in 1977, CUS provides insurance inspection, risk management and loss control services to Canadian P&C Insurers. CUS is renowned for its exemplary Quality Assurance, and for providing its customers with the most accurate inspection reports, and the highest quality of customer service in the Canadian marketplace.
Contact:
Brent Artemchuk
Director, Corporate Marketing & Communications
Real Matters
(905) 695-3969
bartemchuk@realmatters.com
July
Solidifi Inc. Renamed To Facilitate Expansion Into Cloud-Based Property Information Services
Acquisition Of Canadian Underwriting Services Creates Second Largest Provider of Property Information To Canada's P&C Insurance Industry
July 28, 2010
Toronto, Ontario, July 29, 2010 - Effective today, SolidifiTM Inc., North America's premier provider of next generation appraisal management services, is changing its name to Real MattersTM. The move will facilitate the organization's expansion into cloud-based property information services. Real Matters' business units, SolidifiTM (appraisal management solutions) and iv3TM (inspection and loss control solutions) will remain wholly-owned subsidiaries. The expansion strategy also includes the acquisition of Canadian Underwriting Services (CUS).
Real Matters brings together the two most important elements required to effectively provide property information services: subject matter expertise and unique data. These two elements are fused together through the organization's redihiveTM cloud-based technology environment, a community that enables a global network of field agents to create meaningful insights into residential and commercial properties. Serving multiple industries, Real Matters will initially leverage redihiveTM through the Solidifi and iv3 businesses.
According to Real Matters President and CEO, Jason Smith, the move is a logical progression for all stakeholders. "Since its inception in 2004, Solidifi has grown phenomenally as a next generation appraisal management company. However, we're seeing tremendous demand in the market for unique property information. As a result, we're converting to a cloud-driven property information services organization that serves multiple verticals."
As part of its expansion strategy, iv3 is acquiring Canadian property and casualty inspection services leader, CUS. Established in 1977, CUS delivers quality replacement value assessments and loss control reports to the property and casualty insurance industry through a network of independent inspectors. The acquisition, which is effective immediately, positions iv3 as the second largest organization of its kind in Canada to provide these services. Says Smith, "At its core, Real Matters is about transforming information services related to real estate. We're confident that with the unique data gathered by our exclusive network of more than 15,000 North American field agents, the cloud-based high performance of redihiveTM and future acquisitions, we'll propel the next generation of businesses that provide insight into residential and commercial properties."
About Real Matters
Real Matters is the leading provider of property information services in North America. It fuses unique data gathered from a network of more than 15,000 field agents with the technological power of its cloud-based redihiveTM environment to propel the next generation of businesses that provide insight into residential and commercial properties. The organization employs more than 125 people and has its Canadian head office in Toronto Ontario as well as a U.S. office in Chicago. Additional information about Real Matters is available at www.realmatters.com.
Contact:
Brent Artemchuk
Director, Corporate Marketing & Communications
RealMatters
(905) 695-3969
bartemchuk@realmatters.com
June
Kasting 4 Kids Raises $100,000 For Holland Bloorview Kids Rehabilitation Hospital Foundation
Toronto, Ontario, June 23, 2010 -- Solidifi Inc., North America's premier next generation appraisal management company, today announced that its charitable foundation helped raise $100,000 at the first annual Kasting 4 Kids fly fishing event on April 30, 2010 at Ontario's Franklin Club. Kasting 4 Kids was created to help raise funds for children with disabilities at Holland Bloorview Kids Rehabilitation Hospital (formerly Bloorview Kids Rehab), Canada's largest children's rehabilitation teaching hospital.
The event was co-sponsored by leaders in Toronto's financial and professional community, including title sponsor Solidifi Charitable Foundation as well as Altus Group; BMO Bank of Montreal; Davis + Henderson; The Franklin Club; Genworth Financial; HKMB Hub International; National Bank Financial; Royal Bank of Canada; Paradigm Capital; and Whitecastle Investments. The occasion featured one-on-one instruction from Canada's fly fishing expert, Ian James, and the support of 20 of Ontario's top fly fishing guides. All guests received complimentary fishing gear from Orvis Fly Fishing Equipment.
According to Solidifi President and CEO, Jason Smith, Kasting 4 Kids is distinctive among fundraising events. "With so many golf, walk and run events competing for charitable dollars, it was important to introduce a unique event," he says. "We felt that its distinctiveness would definitely stand out in the crowd and help us achieve our fundraising goals. Based on the response we received, we definitely succeeded."
Valerie McMurtry, President and CEO, Holland Bloorview Kids Rehabilitation Hospital Foundation echoes Smith's sentiments: "The uniqueness of the event absolutely contributed to its success," she says. "We are thrilled that Kasting 4 Kids was created especially for Holland Bloorview. Community and corporate support allows Holland Bloorview to push beyond the traditional boundaries of healthcare to offer the innovative treatments, programs, services and technologies that transform the lives of children with disabilities. Holland Bloorview is committed to helping kids with even the most severe disabilities live ordinary and sometimes extraordinary lives - just like other kids."
Photo: Holland Bloorview's Valerie McMurtry (L), Solidifi's Jason Smith (R) and sponsors during the $100,000 cheque presentation.
The Franklin Club was selected as the Kasting 4 Kids venue for two reasons: It has a rich association with Ontario's hospital community and it's located within the Greater-Toronto-Area. In fact, the Club was established as a weekend retreat in 1909 by a group of doctors from Toronto's St. Michael's Hospital. Today, the club occupies 200 acres within the Oak Ridges Moraine and is a member-owned, private recreational fishing club specializing in fly-fishing for rainbow and speckled trout. Says Jim Oosterbroek, Manager of the Franklin Club: "The Club is thrilled to be associated with Kasting 4 Kids and honoured to have hosted the first annual event. We had an amazing first year and we're looking forward to many more years of fundraising."
Jason Smith stated, "We're enthusiastically looking forward to many more years of assisting Holland Bloorview and the children and families who use its services. Special thanks to everyone, including the Solidifi team, the Kasting 4 Kids committee and members of The Franklin Club for making it all happen."
About Solidifi Inc.
Solidifi is a leading provider of property valuation, collateral risk management and data analytic services to the North American financial services industry. Solidifi provides customers with a flexible service platform for procuring collateral valuation, data solutions, and other real estate services 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, Toronto, Montreal and Calgary. Additional information about Solidifi is available at www.solidifi.com.
About Solidifi Charitable Foundation
The Solidifi Charitable Foundation is a not-for-profit organization devoted to enhancing the quality of life for children with disabilities and their families. The Foundation's mission is to support global research, facility enhancements, short term family accommodations and housing finance programs. The Solidifi Charitable Foundation supports children's rehabilitation charities across Canada through fundraising activities involving clients, partners, suppliers and employees.
About Holland Bloorview Kids Rehabilitation Hospital Foundation
Holland Bloorview Kids Rehabilitation Hospital Foundation develops relationships and raises funds in the community for Holland Bloorview Kids Rehabilitation Hospital. Holland Bloorview is Canada's largest children's rehabilitation and complex continuing care teaching hospital, fully affiliated with the University of Toronto. Holland Bloorview's work covers the full spectrum from clinical care and treatment, to assistive technologies and rehab therapies, to creative arts, education and research to empower children with disabilities and their families. Please visit www.hollandbloorview.ca.
Contact:
Brent Artemchuk
Director, Marketing & Communications
Solidifi Inc.
Phone: (905) 695-3969
bartemchuk@solidifi.com
www.solidifi.com
Mar
A cost effective and fully managed appraisal service completed by experienced Appraisers that Canadian Mortgage Lenders and Brokers know and trust.
Solidifi PerforMAX Real Estate Appraisal Service Launches in Canada
Toronto, March 11, 2010 - Solidifi Inc. one of North America's largest real estate appraisal management companies announced today the launch of Solidifi PerforMAXTM; an appraisal service designed to provide Canadian Mortgage Lenders and Brokers with a fully managed, no hassle option for procuring appraisals, while saving on their current appraisal costs - locally, regionally and nationally.
Over the past four years, Solidifi has experienced exponential national growth through their Solidifi ValuesTM appraisal service and has developed Canada's largest, independent, full fee Appraiser Network, with over 3,000 local market experts across Canada. Solidifi ValuesTM provided the foundation for the development and launch of Solidifi PerforMAXTM.
The Solidifi PerforMAXTM fully managed service is unique in that the appraisal order is managed for the client, from start to finish including all tracking and billing - and Solidifi passes on their national, volume price savings to the client. On every order, Solidifi selects a local market expert from their independent appraiser network, using real-time performance metrics including price, turn-around-time and Solidifi iQTM - a quality score determined by a proprietary scoring algorithm. Every order is then managed throughout the process to guarantee that service delivery times are met, all billing is completed and quality is upheld.
"Our ability to offer a fully managed service that maximizes appraisal performance at a better price, with guaranteed turn-around times - is a result of our national presence and the strong partnerships we have developed with Canada's most experienced and professional real estate Appraisers. Appraisers on the Solidifi network set their own local market fees and they have full autonomy to use the appraisal software and processes they have successfully built their business on," says Guy Bantleman, Executive Vice President of Appraisal Management.
About Solidifi Inc.
Solidifi is a leading provider of property valuation, collateral risk management and data analytic services to the North American financial services industry. Solidifi provides customers with a flexible service platform for procuring collateral valuation, data solutions, and other real estate services 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, Toronto, Montreal and Calgary. Additional information about Solidifi is available at www.solidifi.com.
For more information, please contact:
Solidifi Inc.
Ms. Jaime Lea Foss
Vice President, Marketing & Communications
(905) 695-8396
jlfoss@solidifi.com
www.solidifi.com
Nov
A million Canadian residential properties analyzed in the last 18 months.
Collateral risk now instantly assessed on 100% of appraisals
Toronto, Nov 12, 2009 - Solidifi Inc. announced today that its collateral risk management service - Solidifi InsightTM now provides an instant risk assessment on all dominant appraisal forms utilized across Canada. Solidifi InsightTM allows Lenders to identify critical property risk, consistently apply their underwriting policies and gain considerable underwriting efficiencies without delaying their appraisal approval times. By understanding how local market Appraisers manage their businesses and the various software applications they rely on, Solidifi InsightTM was designed to work with Appraisers' existing workflow processes; thereby, not requiring additional forms or software applications that could materially impact turnaround times', price and quality. As a next generation appraisal management company, Solidifi is the only service provider that can receive appraisal reports from thousands of Canadian Appraisers in over 60 appraisal software formats, in multiple languages and instantly analyze and deliver accurate and cost effective risk reports each and every time. Solidifi InsightTM ensures data integrity which is essential to the entire valuation process.
With a million Canadian residential properties analyzed in the last 18 months, Canadian Lenders are adopting Solidifi InsightTM into their mortgage underwriting process. Results to date show a general trend where Solidifi InsightTM has identified critical collateral risk in over 8% of appraisals. "We are interested in helping our clients achieve maximum profitability by uncovering and effectively managing collateral risk in the most cost-effective and efficient manner possible. Given that the most robust information about the property comes from the appraisal report, it continues to be imperative that both the Lender and service provider work with the Appraisers' existing desktop software," states, Jason Smith, President and CEO, Solidifi.
In Canada, there are number of appraisal desktop software solutions, housing the essential tools that an Appraiser needs to produce a quality appraisal report and to effectively manage their business. Requiring an Appraiser to maintain, yet another, separate desktop software solutions or have them re-key the appraisal report into another website for each Lender or service provider they work with, could be costly and time consuming; therefore, resulting in a lengthy appraisal process and lower quality reports.
George Opelka, Senior Vice President, ACI, a leading technology innovator for the valuation industry and the provider of CRAL - Canada's largest appraiser desktop software provider, says, "Our customers have developed a deep relationship with their business management software. From training - to working with their assistants - to completing their accounting functions- they have built their business upon solutions such as ours. Solidifi's technology maintains full Appraiser choice of their desktop software, while providing the risk management solutions lenders need today. It's the right, balanced approach that maximizes the benefits to both Appraiser and Lender."
Collateral risk management is essential in today's ever changing economic marketplace. Solidifi's InsightTM provides a comprehensive risk management solution that helps Lenders identify risk within properties across Canada, while integrating seamlessly with their existing underwriting workflow to create efficiencies in the appraisal approval process. Manually reviewing an appraisal report can take over 30-minutes to effectively identify any collateral risk and to determine if the property meets individual lending guidelines. Solidifi InsightTM - instantly highlights the collateral risk within an appraisal report and provides a risk report, that is tailored to individual lender guidelines. A Solidifi InsightTM report can speed up the overall underwriting process and allow an Underwriter to perform an effective appraisal review within 5 minutes.
About Solidifi Inc.
Solidifi is a leading provider of property valuation, collateral risk management and data analytic services to the North American financial services industry. Solidifi provides customers with a flexible service platform for procuring collateral valuation, data solutions, and other real estate services 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, Toronto, Montreal and Calgary. Additional information about Solidifi is available at www.solidifi.com
June
Solidifi DecisionTM integrates risk rules, automates workflow and combines data analytics, enabling the North American mortgage industry to make incredibly smart decisions.
Solidifi launches a Powerful and Agile Collateral Underwriting Solution for Banks and Mortgage Insurers
Toronto and Chicago, June 4, 2009 - Solidifi Inc., a leading technology-based provider of property valuation and collateral risk management services to the North American financial services industry, today announced the evolution of its collateral risk scorecard Solidifi InsightTM to Solidifi DecisionTM - an end-to-end collateral loan origination system (LOS) and underwriting platform.
"Determining accurate property valuations and ensuring compliance to lending policy is of paramount importance to our clients," said Jason Smith, President and CEO of Solidifi. "We have multiple clients who have implemented Solidifi InsightTM to automate appraisal review and identify collateral risk, both on a transactional and portfolio basis. Solidifi DecisionTM helps our clients take absolute control, harnessing collateral risk to maximize profitability."
Solidifi DecisionTM enables lenders and mortgage insurers to manage their entire collateral policy at an enterprise level - from underwriting to portfolio management to collections and recovery. Combining information from appraisers and other data partners, Solidifi DecisionTM delivers a comprehensive range of intelligent collateral risk solutions. Lenders and insurers can:
- define and manage business rules
- dynamically manage underwriting policies
- ensure adherence to risk guidelines and compliance requirements
- maximize efficiency through workflow automation
- objectively measure appraiser compliance through Solidifi iQTM
- optimize collateral risk assessment through Solidifi InsightTM
"The market is still adapting to dramatic changes, from day-to-day operations to new regulatory requirements," said Sharon Castelino, Executive Vice President, Lending Solutions at Solidifi. "Solidifi DecisionTM provides a more sophisticated approach to traditional underwriting methods and portfolio analytics. It's proactive risk management technology that empowers lenders and mortgage insurers to achieve the balance between identifying collateral risk more efficiently, while approving applications even faster."
Built for turnkey implementation, using Web 2.0 technology and deployed as Software as a Service (SaaS), lenders and insurers can securely integrate Solidifi DecisionTM with existing systems, while fully configuring each tool-set to their individual lending guidelines and business policies. Solidifi's digital rights management framework provides users full control and flexibility to determine data-sharing and usage rights.
"Solidifi DecisionTM will help our clients improve profitability, streamline origination, reduce upfront investment, and scale easily to comply with new regulations," continued Smith. "Most importantly, we will continue to deliver end-to-end technology solutions that challenge traditional methods and models to materially reduce risk for our clients."
About Solidifi Inc.
Solidifi is a leading provider of property valuation, collateral risk management and data analytic services to the North American financial services industry. Solidifi provides customers with a flexible service platform for procuring collateral valuation, data solutions, and other real estate services 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, Toronto, Montreal and Calgary. Additional information about Solidifi is available at www.solidifi.com.
For more information or to schedule an interview with Jason Smith or Sharon Castelino, please contact:
Solidifi Inc.
Mike Kraemer
Director, Marketing & Communications
(905) 739-1212
mkraemer@solidifi.com
www.solidifi.com
May
Leading edge technology and "Full Fee" appraiser model being rapidly adopted as alternative to traditional AMCs.
Solidifi delivers HVCC compliant solution to over 30 new mortgage lender clients
Chicago, May 5, 2009 - Solidifi Inc., a leading technology-based provider of property valuation and collateral risk management services to the lending industry, today announced the successful May 1st launch of an HVCC compliant platform with over 30 new, key mortgage bank clients across the country. As the mortgage industry comes to terms with the Home Valuation Code of Conduct (HVCC) which went into effect May 1st, many US mortgage lenders are turning to Solidifi for their flexible, turnkey technology and full fee national appraiser marketplace.
Solidifi's service allows a mortgage lender to become HVCC compliant while maintaining their existing appraiser relationships and without modifying the fees paid to them. Furthermore, mortgage lenders have the option to complement and evolve their appraiser panel by utilizing Solidifi's quality driven marketplace of full fee independent appraisers. Along with HVCC compliance, customers have achieved large operational efficiencies without the investment of building and maintaining a next generation appraisal management solution. Solidifi's technology platform combined with a full fee appraisal model provides the mortgage banking industry with a new quality driven appraisal process which is quickly becoming the new standard.
"With HVCC going into effect May 1st, our lending operation required some re-engineering to ensure compliance," stated Nancy Crocetto, Senior Vice President, Weichert Financial Services. "Solidifi's HVCC compliant platform was deployed effortlessly in a matter of days and their full fee, quality driven appraiser model allowed us the flexibility to continue to utilize our existing appraiser network in a much more efficient manner."
Solidifi ValuesTM further assists mortgage lenders with HVCC compliance by providing appraiser independence safeguards, non-influence policies, complete audit trails and substantial management reporting capabilities. Solidifi ValuesTM also automates several newly regulated tasks such as delivering a copy of the completed appraisal report to the consumer 3 days before closing and ensuring immediate cost recovery from the consumer. Service providers and lenders can also utilize appraisal review services and tools, such as Solidifi iQTM, to assist in driving a higher quality appraisal product with their appraiser partners while streamlining the appraisal review process.
UPF Services, a national provider of real estate services to the mortgage banking industry has partnered with Solidifi to provide its more than 400 banking and credit union customers with appraisal services and compliance expertise.
"As the mortgage industry and the demand for different loan products have evolved over the last year, so has the appraisal process," said Mark Hikel, Chief Executive Officer of UPF Services. "Our customers have expressed an interest in keeping up with changing regulatory guidelines, particularly with the Home Valuation Code of Conduct (HVCC) which is now in effect. It was our responsibility to find an experienced compliance partner to provide our customers with complete assurance throughout the collateral valuation process - and Solidifi was the right partner with the right solution at the right time."
For mortgage lenders looking to establish and maintain a qualified list of professional appraisers to work with, the Solidifi appraiser marketplace and flexible technology platform provides many options. The Solidifi solution also has the added benefit of continued enhancements including appraiser performance metrics and analytics, automated workflow, and hosting in a Tier 1 facility - all provided in a service-based transaction fee model with immediate, no-fee deployment.
"With broad changes to much of the appraisal process going into effect May 1st, many mortgage lenders are still unprepared to manage all the compliance requirements that come with HVCC," said Loren Cooke, Executive Vice President of Solidifi. "Solidifi will remain committed to working with these lenders to rapidly deploy the valuation technology solutions they require while ensuring they are not exposed to possible HVCC violations."
About Solidifi Inc.
Solidifi is a leading provider of property valuation, collateral risk management and data analytic services to the North American financial services industry. Solidifi provides customers with a flexible service platform for procuring collateral valuation, data solutions, and other real estate services 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, Toronto, Montreal and Calgary. Additional information about Solidifi is available at www.solidifi.com.
For more information, please contact:
Solidifi Inc.
Mike Kraemer
Director, Marketing & Communications
(905) 739-1212
mkraemer@solidifi.com
www.solidifi.com
Apr
Commercial & Residential Real Estate Professionals Gain New Revenue Source.
Solidifi & Altus Group complete financing to develop lending and insurance data solutions
Toronto - April 30, 2009 - Solidifi Inc. announced today that it has completed an additional equity investment with Altus Group Income Fund. ("Altus"). This additional capital will be used to expand Solidifi's service offerings, including the development of replacement cost and risk analytics solutions for property insurance companies. The new services will leverage Solidifi's core technology capabilities, Altus' extensive proprietary commercial real estate data and expertise and Solidifi's North American network of independent appraiser partners. Details of the investment were not released, but Altus has increased its minority position in Solidifi and joins the Board of Directors.
Providing risk management services to the property and casualty (P&C) insurance industry is a multi-billion dollar revenue opportunity for Solidifi and Altus. P&C insurers strive to improve underwriting profits by mitigating losses and reducing costs. The real-time data collected by local market residential and commercial professionals, powered by Solidifi's property underwriting platform, provides insurers with unique risk characteristics and detailed replacement cost information to make more intelligent decisions at time of underwriting.
For example, knob and tube wiring discovered by an appraiser during the mortgage process represents a material risk for insurers, who typically have the option of relying on the homeowner to provide this information, or spending time and money to order an inspection. Solidifi can instantly confirm this information, right at the desktop of the underwriter prior to approval. Detailed property characteristics (square footage, room counts, etc) combined with up-to-date, validated cost information provided by Altus provides an extremely accurate replacement cost estimate for the insurer.
These revolutionary new data solutions are facilitated in full partnership with local market real estate professionals, including Solidifi's North American network of over 8,000 independent residential real estate appraisers, and Altus' 34 offices of independent real estate consulting and professional advisory practitioners. In this tumultuous market climate, these real estate experts provide the foundation for reliable real estate analysis by contributing current, validated, and unbiased information.
"There are significant operational and risk management opportunities available for our clients by utilizing Altus' data collected by local professionals. This comprehensive information will offer insurers a new benchmark for replacement cost accuracy," said Jason Smith, President and CEO of Solidifi. "We anticipate that our joint relationships with respected financial institutions and Altus' global footprint enable us to continue our rapid growth and innovation."
This financing has provided the investment required to evolve Solidifi's property data warehouse to provide service for the P&C marketplace by leveraging its successful solutions provided to the mortgage industry. Solidifi's solutions are built using Web 2.0 and Service Oriented Architecture (SOA) technology. Property information provided by partners, appraisers, and other local professionals are tracked at the transaction level by Solidifi's digital rights management framework to manage revenue distributions to each contributor.
Solidifi is leveraging its existing core transaction management platform to rapidly bring these solutions to market. This SaaS (Software as a Service) platform, together with proprietary data extraction and management capabilities has created an extraordinary opportunity to offer new and unique data solutions across multiple verticals, including P&C insurance.
"Solidifi's robust technology platform, combined with Altus' extensive database, will allow us to capitalize on this significant opportunity; needed more than ever in the current economic climate," said Gary Yeoman, CEO of Altus Group. "The expertise and innovation within Solidifi, combined with Altus' breadth of experience, offers the ability to rapidly bring these new opportunities to market and capitalize on as an ongoing means of growth across the globe."
This strategic partnership and capital investment complements Solidifi's existing property valuation and collateral risk management services that provide Solidifi's lender customers with risk analytics that leverage local market appraiser expertise and providing its residential appraiser partners with new revenue streams.
Through technological innovation, residential and commercial real estate expertise, and an extensive joint customer base, Solidifi and Altus will work to establish a comprehensive data solution suite in the P&C insurance market, and continue to expand the breadth of real estate data solutions for their customers.
About Altus Group
Altus Group Income Fund is the leading multidisciplinary provider of independent real estate consulting and professional advisory services worldwide. With a staff of over 1,200, Altus has 34 offices in 24 cities throughout Canada and 8 offices throughout the UK. Altus operates as: Altus Research, Valuation and Advisory; Altus Cost Consulting; Altus Realty Tax Consulting; Altus Geomatics; Altus InSite; Altus Capital Planning; and Altus Edwin Hill. Altus' clients include banks, financial institutions, governments, pension funds, asset and fund managers, developers and landlords, as well as companies engaged in the oil and gas industry. For more information, go to altusgroup.com.
About Solidifi Inc.
Solidifi is a leading provider of property valuation, collateral risk management and data analytic services to the North American financial services industry. Solidifi provides customers with a flexible service platform for procuring collateral valuation, data solutions, and other real estate services 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, Toronto, Montreal and Calgary. Additional information about Solidifi is available at www.solidifi.com.
For more information or to schedule an interview with Jason Smith, please contact:
Solidifi Inc.
Mike Kraemer
Director, Marketing & Communications
(905) 739-1212
mkraemer@solidifi.com
www.solidifi.com
Feb
Solidifi ValuesTM now allows direct access to leading edge appraisal management technology and analytics for third party suppliers to manage their own appraisal solution.
Dec
Addition of industry veteran enhances high performance executive team.
Sharon Castelino Joins Executive Team At Solidifi
TORONTO, January 16, 2009 - Solidifi Inc., a leading provider of collateral valuation and risk management services to the North American mortgage industry, has announced the appointment of Sharon Castelino as Executive Vice President, Lending Solutions.
With more than 15 years of mortgage industry experience in the financial services sector, Ms. Castelino will be responsible for identifying and implementing collateral valuation solutions for large Canadian financial institutions. Ms. Castelino has an extensive background in credit, lending, call center operations, corporate sales and marketing. Most recently, Sharon held dual roles as Vice President, PCF Mortgages & Secured Lending and Vice President, HLC Home Loans Canada mortgage brokerage.
"We are excited and proud to have Sharon join our team," says Jason Smith, President and CEO of Solidifi. "Sharon is a trusted and respected industry veteran with a proven track record of success in the Canadian mortgage industry. Her wealth of experience will assist the Solidifi team in setting and meeting its strategic initiatives and goals and will enable us to manage the growth in our valuation procurement and collateral risk assessment services in Canada."
Regarded as an innovator and trail-blazer in the mortgage industry, Ms. Castelino developed the "group mortgage" business for CIBC, a multi-billion dollar portfolio specializing in tax-effective subsidies. Ms. Castelino has held several senior positions at various companies, including Equifax Canada, with responsibilities for large North American retailers and banks, as well as various roles within the retail operations of Royal Bank, Canada Trust and CIBC.
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 for obtaining high quality real estate valuations, automated appraisal reviews and collateral risk assessments while leveraging its National Appraiser Network to fulfill appraisal orders in a way that drives credible, compliant results while insulating independent appraisers from client pressure.
About Solidifi Inc.
Solidifi is a leading provider of property valuation, collateral risk management and data analytic services to the North American financial services industry. Solidifi provides customers with a flexible service platform for procuring collateral valuation, data solutions, and other real estate services 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, Toronto, Montreal and Calgary. Additional information about Solidifi is available at www.solidifi.com.
For more information, please contact:
Solidifi Inc.
Mike Kraemer
Director, Marketing & Communications
(905) 739-1212
mkraemer@solidifi.com
www.solidifi.com
Dec
Company partners with Bloorview Kids Foundation.
Solidifi Charitable Foundation Supports Children And Youth With Disabilities
TORONTO, December 1, 2008 - Solidifi Inc., a leading provider of collateral valuation and risk management services to the North American mortgage industry, has announced the formation of the Solidifi Charitable Foundation (SCF), a non-profit organization, and the selection of the Bloorview Kids Foundation as the first major charity it will support. The organization will seek out additional beneficiaries who are devoted to enhancing the quality of life of children and youth with disabilities as well as their families.
"At Bloorview, we believe that every child deserves the opportunity to reach their full potential," said Valerie McMurtry, President and CEO, Bloorview Kids Foundation. "Thanks to the support of corporate partners, like Solidifi, Bloorview fosters innovative research, technology, programs and services that enable children with disabilities to be active participants in their communities, while also providing families with resources needed to face the challenges of raising a child with a disability."
Naturally, since Solidifi is involved in the real estate and mortgage finance industry, SCF will focus its efforts to support charities that help children with disabilities and their families secure affordable short-term accommodations while they are undergoing treatment and then provide financial assistance when homes must be retrofitted to meet the special needs of their child.
"SCF chose Bloorview Kids Foundation as its first partner because the work it does to support these children and their families inspires us to a higher level of service," said Jason Smith, President and CEO of Solidifi. "We will leverage our success to do our part to make the lives of these children better and to help their families afford to care for them as they grow into productive adults."
SCF will leverage its parent company's relationships in order to offer opportunities for lenders, appraisers and others involved in the real estate industry to support these causes as well. Lenders, brokers and appraisers that use Solidifi's services will be given the option of donating a portion of their transaction fees to fund SCF's initiatives.
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 for obtaining high quality real estate valuations, automated appraisal reviews and collateral risk assessments while leveraging its National Appraiser Network to fulfill appraisal orders in a way that drives credible, compliant results while insulating independent appraisers from client pressure.
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.
Bloorview Kids Foundation
Bloorview Kids Foundation develops relationships and raises funds in the community for Bloorview Kids Rehab. Bloorview is Canada's largest children's rehabilitation and complex continuing care teaching hospital, fully affiliated with the University of Toronto. Bloorview's work covers the full spectrum from clinical care and treatment, to assistive technologies and rehab therapies, to creative arts, education and research to empower children with disabilities and their families. Please visit www.bloorview.ca.
For more information, please contact:
Solidifi Inc.
Mike Kraemer
Director, Marketing & Communications
(905) 739-1212
mkraemer@solidifi.com
www.solidifi.com
Oct
Company attracts top talent as it launches services in the U.S.
Solidifi Adds Two Additional Veterans To US Sales Team
CHICAGO, October 21, 2008 - Solidifi Inc., a leading provider of collateral valuation and risk management services, has announced that Winston Walker and Terry A. Aikin have both joined the company as part of the growing sales team for the newly launched U.S. operation. Both Walker and Aikin will report to Loren Cooke, Executive Vice President of Sales and Marketing.
Walker was most recently with First American CoreLogic where he served as vice president of corporate accounts responsible for expanding the relationship with large, national accounts including Wells Fargo and Bank of America. Previously he served at FNC and at Bank of America as Vice President of Valuation Quality.
Aikin holds a Certified Mortgage Banker (CMB) designation and has been a leader in the mortgage banking industry for the past 11 years, 8 of them serving AIG in a senior capacity. Previously, he spent 11 years in the property and casualty insurance space. Over his long career he has handled senior account responsibilities with large national and regional accounts as well as managed sales and underwriting professionals.
"I am very pleased that Terry and Winston have chosen to join our growing team," said Loren Cooke, Executive Vice President, Sales and Marketing at Solidifi. "Its further proof that we have what the U.S. market needs when executives of this caliber choose to join the company this early in our campaign to serve this market. We welcome them both."
The addition of Aikin and Walker to an already strong sales team comes on the heels of Solidifi's fulfillment of its first residential real estate appraisal orders in the United States using its Solidifi ValuesTM 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.
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 for obtaining high quality real estate valuations, automated appraisal reviews and collateral risk assessments while leveraging its National Appraiser Network to fulfill appraisal orders in a way that drives credible, compliant results while insulating independent appraisers from client pressure.
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.
For more information, please contact:
Solidifi Inc.
Mike Kraemer
Director, Marketing & Communications
(905) 739-1212
mkraemer@solidifi.com
www.solidifi.com
Oct
Collateral Valuation & Risk Management technology transitions seamlessly into US market.
Solidifi Launches Paradigm Changing Valuation Solution
CHICAGO, October 20, 2008 - Solidifi Inc., a leading provider of collateral valuation and risk management services, announced that it has now fulfilled its first residential real estate appraisal orders in the United States using its Solidifi ValuesTM 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 ValuesTM, 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 iQTM which is a dynamic, multi-dimensional rating of an appraiser's report quality, competency and professionalism on the Solidifi National Appraiser Network. Solidifi iQTM 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.
For more information, please contact:
Solidifi Inc.
Mike Kraemer
Director, Marketing & Communications
(905) 739-1212
mkraemer@solidifi.com
www.solidifi.com
Oct
Altus Group joins Solidifi shareholder group. Foundation in place for strategic growth.
Solidifi Completes Additional Financing. Altus Group joins Solidifi shareholder group.
TORONTO, October 7, 2008 - Solidifi Inc., a leading provider of collateral valuation and risk management services, has announced that it has completed an additional round of financing, including a new growth equity investment from Altus Group Income Fund. ("Altus"). The funds will be utilized to accelerate the company's expansion into the U.S. mortgage market and grow in Canada. Details of the investment were not released, but Altus will emerge as a minority stakeholder in Solidifi.
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 including Solidifi ValuesTM and Solidifi InsightTM providing solutions for obtaining high quality real estate valuations, automated appraisal reviews and collateral risk assessments. In October, Solidifi will roll out this suite of products to U.S. mortgage lenders at America's largest mortgage banking conference, the Mortgage Bankers Association Annual Conference and Expo in San Francisco.
"I am very proud to welcome Altus into our group and I look forward to working with their experienced team of leaders to help us expand the solutions we offer our respective customers." said Jason Smith, President and CEO of Solidifi. "This is a great fit for both firms. Altus understands the many benefits inherent in our business model and appreciates the unique position we are in to help U.S. firms deal with the current mortgage crisis and its lingering impacts."
Smith added that the new partnership would provide excellent opportunities for growth in both firms. While Solidifi has many years of proven expertise in technology development for the residential side of the real estate financing business, Altus is the leader in independent professional consulting to the commercial real estate industry with a solid base of knowledge and established presence in a growing number of countries.
"With this move, Altus is establishing the foundation for an ongoing relationship that will allow us to leverage our combined experience and expertise." said Terry McLean, Executive Vice President, Western Canada, Research, Valuation and Advisory, Altus Group. "With the current global market unease, Altus continues to target opportunities that meet the demand of our increasingly international client base, for more informed decision making and wider breadth of expertise, while adhering to a strict set of acquisition criteria that signify our continued commitment to disciplined, long-term growth."
Altus' addition to the Solidifi investor group makes it part of a prestigious set of investors that truly understand how to leverage strategic investments in innovative companies. Other members of this group include Whitecastle Investments and Quadrexx Asset Management.
About Altus Group
Altus Group Income Fund is the leading multidisciplinary provider of independent real estate consulting and professional advisory services worldwide. With a staff of over 1,300, Altus has 31 offices in 23 cities throughout Canada and 6 offices throughout the UK. Altus operates as: Altus Research, Valuation and Advisory; Altus Cost Consulting; Altus Realty Tax Consulting; Altus InSite; Altus Geomatics; Altus Andrews; and Altus Edwin Hill Altus UK LLP. Altus' clients include banks, financial institutions, governments, pension funds, asset and fund managers, developers and landlords, as well as companies engaged in the oil and gas industry. For more information, go to altusgroup.com.
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, Toronto, Montreal and Calgary. For more information, visit www.solidifi.com.
For more information, please contact:
Solidifi Inc.
Mike Kraemer
Director, Marketing & Communications
(905) 739-1212
mkraemer@solidifi.com
www.solidifi.com
Sept
Credit Scoring and Risk Strategy Association now balanced to include collateral risk.
Solidifi selected for prestigious membership position with CSRSA
CHICAGO, Sept. 15, 2008 - Solidifi Inc., a leading technology-based provider of collateral valuation and risk management services to the mortgage lending industry, announced that it has been selected from among a field of industry vendors for a prestigious membership position within the Credit Scoring and Risk Strategy Association (CSRSA).
The CSRSA is a unique not-for-profit organization devoted to the advancement of consumer and small business lending with a focus on credit/operational credit risk management processes, governance, predictive modeling, and fraud management. Only 12 vendors are permitted as sponsor members at any given time. Solidifi was chosen from multiple companies competing for a single open position this year.
"We are thrilled to have been chosen to receive membership status with the CSRSA," said Jason Smith, CEO of Solidifi. "Risk managers are coming to the realization that collateral valuation is a critical component of effective risk management. We were successful in demonstrating to the organization's leadership that Solidifi has the experience and the experts to deliver real value to CSRSA members."
Jeff Dumba is an executive with HSBC Canada and a CSRSA board member that was involved in this year's sponsor member selection process.
"Ours is a venue in which we share best practices and discuss issues and opportunities with like-minded people who all have their own particular viewpoints in the market. We work to find sponsor members that are very much aligned with what our members are thinking. Solidifi fit that bill," Dumba said. "What really tipped the scales for Solidifi was the enthusiasm," Dumba added. "It was very refreshing. They always came through in a very positive way. They were really looking to help."
CSRSA recognized the need to expand the risk management discussion from consumer credit, where the organization began, to collateral risk. Solidifi brings a wealth of collateral valuation experience to the Association and will begin leveraging it for the benefit of members starting at a General Meeting on September 30th at The Board of Trade where the company will present "Mortgage Lending in 2008/2009 - A Renewed Focus on Collateral Risk Management and Property Valuation." The presentation will discuss how a lack of focus on collateral risk management was a key contributor to the mortgage crisis in the U.S. and how through a renewed focus on collateral risk management, utilizing appropriate tools and processes, lenders in the North American marketplace can better mitigate and manage potential losses.
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, Toronto, Montreal and Calgary. For more information, visit www.solidifi.com.
For more information, please contact:
Mike Kraemer
Director of Marketing & Communications
Solidifi Inc.
Tel: 312-268-5679
Fax: 312-268-5801
mkraemer@solidifi.com
www.solidifi.com
Sept
Solidifi Launches Fully Transparent National Appraiser Network
Chicago, IL - September 5, 2008 - Solidifi Inc., a leading technology-based provider of collateral valuation and risk management services to the mortgage lending industry, announced that expansion to nationwide appraiser coverage is ahead of schedule. Response from experienced appraisers coast-to-coast since Solidifi launched its registration process less than two weeks ago surpassed initial goals and is driving the development of the fastest growing network of quality appraisers in the U.S. today. Solidifi's National Appraiser Network is founded on the principle that a fully transparent technology platform will ensure appraiser independence while also giving lenders access to a full range of performance metrics. This depth of transparency allows Solidifi's clients to identify appraisers demonstrating the professional competency required to meet their requirements for specific assignments in addition to the level of quality as measured by past performance. Transparency expands further with display of the full fee* set by the appraiser.
"The key to success in the collateral valuation business lies in the quality of the appraisal network. The Solidifi National Appraiser Network is built on the first technology platform specifically designed to be fully transparent to give lenders the information they require while protecting the appraiser from client pressure," said Jason Smith, CEO of Solidifi. "Solidifi's full fee business model attracts the kind of expert independent appraisers sought by our lender clients in these turbulent times. Lenders are provided with all of the performance and report quality information required to manage their risk effectively while ensuring appraiser independence."
Appraiser pressure has been an area of critical concern for the industry for some time and has led to a number of innovative new initiatives, including the Home Valuation Code of Conduct ("HVCC"). Solidifi was founded in 2004 on the idea that a truly transparent platform is the only way to avoid the problems that have plagued traditional AMCs. The company expanded into the U.S. market and has invested significant resources preparing its Solidifi ValuesTM collateral management service, offering mortgage professionals, lenders, and investors solutions that are flexible and provide transparency in collateral valuations.
"Quality and transparency were our highest priorities when we developed our platform," Smith said. "Many lenders are surprised to find out that we can provide our level of quality, complete transparency, allow appraisers to earn their full fee and still provide bottom line savings to our lender clients. But that's exactly what has happened as we have rolled out this platform to top tier lenders in North America over the past 2 years."
Appraisers in the U.S. have been pleasantly surprised when presented with the details of Solidifi's new network, but collateral valuation experts in Canada have been enjoying its benefits for some time. "Being included in Solidifi's network for the past 3 years has made it easier to prove that we are a leading company," says Al Garbens, AACI, P.App., of York Simcoe Appraisal Corp. Ltd. "Everyone says they have high levels of customer service and can deliver on time, but the transparency built into Solidifi's technology allows us to actually prove it on a daily basis. In a market where long-term success is no longer a foregone conclusion, it's good to be able to prove how good we really are." *full fee means that each appraisal company sets its own fees and does not split that fee with Solidifi. Appraisers that were previously forced to give away up to half of their regular fee to an AMC are now free to determine how much they will charge. Appraisers compete with each other on quality, speed and price which results in monetary savings and efficiency benefits for the lender. About Solidifi Inc.
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, Toronto, Montreal and Calgary. For more information, visit www.solidifi.com.
For more information, please contact:
Mike Kraemer
Director of Marketing & Communications
Solidifi Inc.
Tel: 312-268-5679
Fax: 312-268-5801
mkraemer@solidifi.com
www.solidifi.com
July
It's never been easier for mortgage brokers to arrange an appraisal for Concentra.
Concentra Financial chooses Solidifi as exclusive provider of collateral valuation and risk management services
Toronto, ON - July, 4 2008 - Solidifi Inc., a leading technology-based provider of collateral valuation and risk management services, announced today that Concentra Financial has chosen Solidifi as the exclusive provider for their collateral valuation and risk assessment requirements. Concentra will extend Solidifi's services to its mortgage broker channel and corporate risk management division.
"Solidifi has been a great strategic partner for us," says Norm Klatt, Vice President Financial Services of Concentra. "Implementing Solidifi ValuesTM has resulted in faster appraisals and lower management costs while improving our overall processes. At a corporate risk management level, Solidifi InsightTM enables us to make smarter underwriting decisions on loans secured by residential properties."
Solidifi provides lenders and brokers with a flexible valuation procurement service, and risk management and data analytic solutions. Solidifi ValuesTM is a web-based collateral management platform for arranging property valuations, combining the latest technology with the largest appraisal partnership across Canada. Solidifi ValuesTM provides significant improvements in the service speed, cost and quality of valuation products including AVMs, drive-bys and full appraisals. Solidifi InsightTM enables lenders to enforce collateral policy requirements and quickly and efficiently detect areas of risk within appraisal and AVM reports during the underwriting process. Solidifi InsightTM ensures quality and consistency through objective rules-based review while reducing fraud and foreclosure loss.
"Solidifi helps us and our mortgage broker partners assign the right appraiser to the deal - balancing the appraiser's turnaround time, price, distance to the property and quality with full transparency," says Klatt.
"Concentra has been a tremendous client and partner in the evolution of our collateral valuation platform," says Loren Cooke, Vice President Sales and Marketing of Solidifi. "We are providing flexible, configurable solutions for Concentra that fully supports their risk management policies, while offering a superior customer service experience for their mortgage broker and appraisal partners."
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.
About Concentra Financial
Concentra Financial is Canada's first federally-regulated retail association, a co-operative that is wholly-owned by credit unions, their Centrals, and system insurers, Co-operators and CUMIS. Concentra operates nationally and, along with its financial and trust business solutions, provides competitive commissions, rates and mortgage features to mortgage brokers and their clients. www.concentrafinancial.ca.
For more information, please contact:
Mike Kraemer
Director of Marketing & Communications
Solidifi Inc.
Tel: 312-268-5679
Fax: 312-268-5801
mkraemer@solidifi.com
www.solidifi.com
July
Mortgage brokers arranging appraisals for Desjardins Credit Union to select the right appraiser - balancing quality, turnaround time and price.
Desjardins Credit Union Chooses Solidifi For Collateral Valuation And Risk Management Services
Toronto, ON - July, 2 2008 - Solidifi Inc., a leading technology-based provider of collateral valuation and risk management services, announced today that Desjardins Credit Union (Desjardins) has chosen Solidifi as the exclusive provider for their collateral valuation and risk review requirements. Desjardins will extend Solidifi's services to its mortgage broker channel, retail branch network and central loans processing unit.
"Solidifi provides the service and information we and our mortgage broker partners need to assign the right appraiser," says Greg Schultz, Manager, Personal and Residential Mortgage Credit of Desjardins Credit Union. "Balancing the appraiser's quality, turnaround time, price and distance to the property with full transparency during the process is very important to us."
Solidifi provides lenders and brokers with a flexible valuation procurement service. Solidifi ValuesTM is a web-based collateral management platform for arranging property valuations, combining the latest technology with the largest appraisal partnership across Canada. Solidifi ValuesTM provides significant improvements in the service speed, cost and quality of valuation products including AVMs, drive-bys and full appraisals.
Solidifi provides underwriters and risk managers with the data and tools they need to make informed collateral decisions. Solidifi InsightTM enables lenders to enforce collateral policy requirements and quickly and efficiently detect areas of risk within appraisal and AVM reports during the underwriting process. Solidifi InsightTM ensures quality and consistency through objective rules-based review while reducing fraud and foreclosure loss.
"Solidifi enables us to make smarter, more accurate underwriting decisions on loans secured by residential properties," says Schultz. "Detecting areas of risk within our appraisal reports which we may have otherwise overlooked ensures we are better protected against fraud and foreclosure loss."
"Desjardins came to us to solve the problems within their appraisal management process," says Loren Cooke, Vice President Sales and Marketing of Solidifi. "Not only are we able to provide superior customer service to their staff and mortgage broker partners but we are delivering a solution that addresses their collateral procurement and risk review requirements."
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, www.solidifi.com.
About Desjardins Credit Union Inc.
Desjardins Credit Union is an Ontario-based financial service cooperative, constituted under the Ontario Credit Union and Caisses Populaires Act (1994). Desjardins Credit Union is owned by its members, who are Ontario residents. Desjardins Credit Union is part of the Desjardins Group.
Desjardins Group is the largest integrated cooperative financial group in Canada, with overall assets of nearly $150 billion, as at March 31, 2008. It comprises a network of caisses, credit unions and business centres in Québec and Ontario, and some twenty subsidiary companies in life and general insurance, securities brokerage, venture capital and asset management, many of which are active across the country. Drawing on the expertise of its 40,000 employees and the commitment of more than 6,500 elected officers, Desjardins offers its 5.8 million individual and corporate members and clients a full range of financial products and services. Its physical distribution network is complemented by leading-edge virtual access methods. www.desjardins.com
For more information, please contact:
Mike Kraemer
Director of Marketing & Communications
Solidifi Inc.
Tel: 312-268-5679
Fax: 312-268-5801
mkraemer@solidifi.com
www.solidifi.com
June
Industry Veteran Marianne Angarola Joins Solidifi
Chicago, IL - June 16, 2008 - Solidifi Inc., a leading technology-based provider of collateral valuation and risk management services, announced today the addition of Marianne Angarola as Vice President, Business Development. In this position, Angarola will leverage her extensive mortgage industry knowledge and relationships to offer Solidifi's services to U.S. mortgage originators, lenders, servicers and investors.
Angarola comes to Solidifi with over 20 years of experience providing traditional and automated collateral valuations and risk management solutions. She has held leadership positions at AFS, Valocity, AMCO, Lender's Services Inc., Mortgage Risk Assessment Corporation and First American RES. She was also a principal with Future Value LLC, a consulting firm serving the appraisal and lending industries. In addition to being a frequent presenter at industry events, she has contributed to agenda development and continuing education curriculum at various collateral valuation conferences.
"Marianne brings a wealth of knowledge to Solidifi with her relevant experience and proven relationship-building skills," says Jason Smith, President and CEO of Solidifi. "Her reputation among the nation's leading lenders will raise industry awareness of Solidifi and our track record in providing collateral valuation solutions that overcome many of the challenges of traditional appraisal management. Solidifi's solution focuses on enabling a high quality, full-fee network of appraisers, empowered with leading technology that allows for highly flexible configuration by channel and meets the unique requirements of each lender."
"Solidifi brings world-class technology and a unique business approach to collateral valuation and risk management, benefiting lenders and appraisers," says Angarola. "Solidifi has avoided the legacy issues associated with the traditional outsourced appraisal management model since they pioneered their open market model in 2005. Solidifi's transparent solution removes the mystery and supports regulatory compliance by placing assignments with the most qualified appraiser partners while also creating an audit trail that meets the test of increased scrutiny that will be mandatory going forward. Solidifi has established an outstanding management team and I look forward to working with this dynamic company."
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, 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
mkraemer@solidifi.com
www.solidifi.com
June
Solidifi appoints Michael Johnston as Advisory Board Chairman.
Solidifi Announces Advisory Board Appointments
Chicago, IL - June 3, 2008 - Solidifi Inc., a leading technology-based provider of collateral valuation and risk management services, announced today the appointment of top industry professionals to its Advisory Board to support Solidifi's growth and evolution.
Michael Johnston and Ivan Wahl have joined Solidifi's Advisory Board, complementing existing members Yousry Bissada and John Bordignon.
"We are pleased that Michael and Ivan have joined Yousry and John on our Advisory Board. Their mortgage banking and collateral valuation leadership and experience will no doubt prove to be very valuable to our organization," says Jason Smith, President and CEO of Solidifi. "We will rely on their incredibly strong leadership skills to provide direction, insight and support to our management team; assisting them in executing strategic initiatives and delivering immediate solutions to a mortgage industry currently facing collateral risk assessment challenges."
Solidifi is a leading provider of collateral valuation, risk management and data analytic services to the mortgage industry. Solidifi recognizes the changes the U.S. mortgage market is facing concerning appraiser independence and quality. Solidifi has invested significant resources preparing its Solidifi ValuesTM collateral management platform for the U.S. market, offering mortgage professionals, lenders, and investors with solutions that are flexible and provide transparency. This is further enhanced through the company's risk management solutions including Solidifi InsightTM which allows lenders and secondary market participants to enforce collateral policy requirements and detect areas of risk within appraisal and AVM reports during underwriting.
"I am honored to be appointed Solidifi's Advisory Board Chairman," says Michael Johnston, founder and former Chairman and Chief Executive Officer of Merrill Lynch Credit Corp. "Solidifi has invested significant resources preparing its collateral and risk management solutions for the U.S. market. They have differentiated themselves from the traditional appraisal management model through championing appraisal independence and transparency, fair competition and quality in collateral valuations."
"Solidifi has assembled a world-class team, deep in mortgage banking, technology and collateral risk management, capable of delivering new and innovative solutions to our industry," says Ivan Wahl, Chairman and Chief Executive Officer of Xceed Mortgage Corporation. "I'm looking forward to working with a management team that promotes an open, inspired culture and demonstrates leadership by partnering with clients and appraisers to unlock innovative solutions for the mortgage lending industry."
Michael, Ivan and John have worked together with key members of Solidifi's management team at Basis100 Inc., a former leading North American mortgage technology vendor. The Advisory Board will be available to personally advise Jason and Solidifi's management team regarding high-level strategic initiatives.
About Michael Johnson
Advisory Board Chairman Michael A. Johnston is the former President and Chief Executive Officer of Proficio Mortgage and has over 35 years of experience in the financial services industry. Mr. Johnston is the founder and former Chairman and Chief Executive Officer of Merrill Lynch Credit Corp. Mr. Johnston was Chairman and Chief Executive Officer of Basis100 Inc. and served as Chairman and Chief Executive Officer of Lender's Service Inc. Earlier in his career, Mr. Johnston was the Chief Financial Officer of Merrill Lynch Hubbard.
About Ivan S. Wahl
Advisory Board member Mr. Wahl has approximately 30 years of experience in the residential mortgage business and has played a leading role in the development of the Canadian mortgage broker channel and the mortgage-backed securitization industry. Mr. Wahl is currently Chairman and Chief Executive Officer of Xceed Mortgage Corporation. He founded FirstLine Trust Company in 1985 and served as its Chairman and Chief Executive Officer. From 1995 to 2001, he was Vice-Chairman and Director of CIBC Mortgages Inc.
About Yousry Bissada
Advisory Board member Mr. Bissada has been involved in the Canadian mortgage industry for many years. He has occupied progressively senior positions with two leading financial institutions, FirstLine Mortgages and TD Canada Trust. Most recently, Mr. Bissada was President and CEO of Filogix, Canada's leading technology provider to the mortgage and real estate industries. Currently Mr. Bissada is a member of the board of directors of Street Capital Financial Corporation.
About John Bordignon
Advisory Board member Mr. Bordignon is currently Executive Vice President, Strategic Development for Paradigm Quest Inc. Prior to joining Paradigm Quest, John was Executive Vice President, Corporate Development for Filogix Limited Partnership, a division of Davis & Henderson. At Filogix, he was responsible for product development and all new corporate initiatives. John has over 25 years experience in the Canadian mortgage market including 18 years with National Bank of Canada in various leadership positions.
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, 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
mkraemer@solidifi.com
www.solidifi.com
May
By Paul Jackson
Canadian-Based Collateral Valuation Firm Expands into U.S.
Solidifi Inc., a collateral valuation and risk management services provider based in Canada, said Monday evening that it has opened its U.S. head office in Chicago, Illinois, and extended its suite of solutions into the national mortgage market.
"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," said Jason Smith, president and CEO of Solidifi.
In light of impending market changes surrounding the introduction of the Home Valuation Code of Conduct - which in particular creates market opportunity for appraisal management companies - Solidifi said it had invested significant resources preparing its Solidifi Values collateral management platform for the U.S. market.
The so-called HVCC has been derided by many industry participants as a one-sided solution that railroads appraisers; others have questioned whether one state's Attorney General should be able to change national industry practice. New York AG Andrew Cuomo first announced the deal with Fannie Mae and Freddie Mac in early March, and his office has been steadfast in its backing of the proposal.
Expecting that some version of the HVCC will go into effect, Solidifi says that it's done its best to help appraisers maintain their core fee structure, rather than eroding fees, as some have feared.
"Solidifi's fully transparent model is founded on the premise of appraiser independence, quality, and speed - not just the lowest fee," said 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."
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 said its platform enforces compliance to the lender's requirements throughout the lifecycle of the appraisal, from order through to acceptance.
To learn more, visit http://www.solidifi.com.
Click here to visit the article posted on HousingWire.com.
May
Funding to expand risk management capabilities and establish operations in the US mortgage market.
Solidifi Secures Investment From Quadrexx Asset Management And Whitecastle Investments
Toronto, ON - May 6, 2008 - Solidifi Inc., a leading provider of collateral valuation and risk management services, has announced that it has secured debt and growth equity investments from Quadrexx Asset Management Inc. ("Quadrexx") and from Whitecastle Investments Limited ("Whitecastle"). The funds, which in part represent the first public offering investment for Solidifi, will be utilized to accelerate the company's sales and marketing efforts, continue to build its presence in Canada and to expand operations into the US mortgage market.
Solidifi provides mortgage professionals with risk management and data analytics solutions that assist them in making smart decisions about collateral valuations while significantly reducing the time and cost involved in processing mortgage loans. Solidifi has an established suite of products including Solidifi ValuesTM and Solidifi InsightTM providing solutions for obtaining high quality real estate valuations, automated appraisal reviews and collateral risk assessments.
"We are very pleased to have received this funding from Quadrexx and Whitecastle," says Jason Smith, President and CEO of Solidifi. "We will be investing to further enhance our product suite in partnership with appraisers to continue our growth in Canada and expand into the US mortgage market."
In combination with the financing, Solidifi has appointed Blaine Hobson to its Board of Directors. Mr. Hobson is an experienced operator, manager and investor with more than 25 years of experience in successfully starting up, building and running companies. He is currently a Managing Director at Whitecastle Investments Limited, a Toronto-based investment fund focused on providing capital and expertise for growth oriented enterprises.
"Blaine has direct investment and leadership experience in a variety of diverse industries," says Smith. "His background and experience will prove highly valuable to the Solidifi Board of Directors and management."
"Solidifi has established a good customer base and strong partnerships with appraisers in Canada by leveraging its technology and data analytics capabilities," says Blaine Hobson, Managing Director of Whitecastle. "I look forward to working closely with the Solidifi team to expand their valuation and risk management solutions to the US mortgage market."
About Solidifi Inc.
Solidifi is a leading provider of collateral valuation and risk management services to the mortgage industry. Solidifi provides mortgage lenders, brokers and insurers with dynamic solutions that assist them in making "incredibly smart decisions" while significantly reducing the time and cost involved in processing mortgage loans. Solidifi currently serves leading Canadian and global financial institutions and operates Canada's largest appraiser network. With a growing broker, lender and insurer base, Solidifi ValuesTM and Solidifi InsightTM are the premiere solutions for obtaining high quality real estate valuations. For more information, go to www.solidifi.com.
About Quadrexx Asset Management Inc.
Quadrexx was formed in 2003 to create and manage niche alternative investment products. The firm has three main divisions, the Hedge Fund division, the Wealth Management division and a Limited Market Dealer division. Quadrexx products have been designed to offer advisors and their clients an alternative to standard investment options. Within the Limited Market Dealer division, Quadrexx offers private equity investments through limited partnerships that offer high risk adjusted returns and low correlation to traditional investments. More information about Quadrexx is available at www.quadrexx.com.
About Whitecastle Investments Limited
Whitecastle's vision and strong commitment to assisting companies requiring capital to expand and capture new markets is manifested by Whitecastle Private Equity Partners and Whitecap Venture Partners. Whitecastle targets opportunities in certain key business sectors such as food services, recycling and waste management, health care services and products, financial services and manufacturing. More information about Whitecastle is available at www.whitecastle.ca.
For more information, please contact:
Mike Kraemer
Solidifi Inc.
Tel: 905-739-1212
Fax: 905-739-1222
mkraemer@solidifi.com
www.solidifi.com
May
Additional mortgage banking and risk management expertise enhances high performance team.
Solidifi Strengthens Management Team For Canadian Growth And Us Expansion
Toronto, Ontario - May 2, 2008 - Solidifi Inc., a leading provider of collateral valuation and risk management services, has appointed Alistair Blackburn and Loren Cooke to senior management positions within the company. Mr. Blackburn has been appointed Executive Vice President, Valuation Services and Mr. Cooke has been appointed Vice President, Sales and Marketing.
These additions will enhance Solidifi's ability to manage the growth in its valuation procurement and collateral risk assessment services in cooperation with the company's appraiser partners.
Mr. Blackburn is a senior executive with extensive international experience across a broad range of financial services sectors. Most recently, Alistair was Vice President, Mortgage Services for HSBC Financial in Canada. Previously, Alistair held several senior and executive positions including Head of European Operations for HFC Bank Limited, a member of the HSBC Group of companies and Head of Group Finance for Egg PLC, one of the best known brands in the UK and the world's largest pure online bank.
Mr. Cooke is a senior sales executive with a broad range of experience in the Canadian financial services industry. Loren has held senior sales and national account management positions with leading providers to mortgage lenders and brokers including Filogix Limited Partnership and Equifax Inc.
"We are excited and proud to have Loren and Alistair join our team," says Jason Smith, President and CEO of Solidifi. "Loren has a proven track record of success in the Canadian mortgage industry and Alistair has a wealth of international experience that will assist the Solidifi team in setting and meeting its strategic initiatives and goals. These appointments enable us to capitalize on the tremendous growth we are experiencing and to extend our capabilities beyond Canada."
Solidifi ValuesTM is a technology-based service that allows residential mortgage lending professionals to arrange independent property valuations from approved appraisers. Solidifi ValuesTM results in significant improvements in the service quality, speed, and cost of valuation products including AVMs, drive-bys and full appraisals.
Solidifi InsightTM is an automated appraisal review and collateral risk assessment solution which enables lenders to quickly and efficiently identify potential risk associated with residential property valuations so that they can make smarter risk decisions.
About Solidifi Inc.
Solidifi is a leading provider of collateral valuation and risk management services to the mortgage industry. Solidifi provides mortgage lenders, brokers and insurers with dynamic solutions that assist them in making "incredibly smart decisions" while significantly reducing the time and cost involved in processing mortgage loans. Solidifi currently serves leading Canadian and global financial institutions and operates Canada's largest appraiser network. With a growing broker, lender and insurer base, Solidifi ValuesTM and Solidifi InsightTM are the premiere solutions for obtaining high quality real estate valuations. For more information, go to www.solidifi.com.
For more information, please contact:
Mike Kraemer
Solidifi Inc.
Tel: 905-739-1212
Fax: 905-739-1222
mkraemer@solidifi.com
www.solidifi.com
Dec
Wells Fargo Financial Canada to Receive Innovative Valuation Solution.
Solidifi Enhances Real Estate Valuations by Combining Appraiser Management Services with Davis + Henderson
Toronto, Ontario - December 18, 2007 - Solidifi Inc. announced today they have signed an agreement with Davis + Henderson Income Fund (TSX: DHF.UN) to combine their respective AppraiserCentralTM and Solidifi ValuesTM services, creating an enhanced and robust valuation solution for the mortgage lending and appraisal communities.
Wells Fargo Financial Canada, a present customer of Davis + Henderson, is the first lender to utilize this revolutionary combined platform to fulfill its property valuation and risk requirements for residential mortgages.
"Wells Fargo is excited about the substantial improvements to our collateral risk management capabilities that the combined AppraiserCentralTM and Solidifi ValuesTM provides. Valuing property for mortgage lending goes beyond just managing risk; by enhancing the speed and quality of the appraisal process, it is becoming a competitive differentiator for Wells Fargo in a changing Canadian lending market" said Steve Malone, Vice President, Wells Fargo Financial Canada.
The combination of platforms results in a broad national network of over 1,500 appraisers, a highly secure web-based transaction management solution that automates the appraisal and risk management functions, and a multilingual call centre providing national support.
"Solidifi has a proven track record of delivering innovative technology solutions to the global and Canadian mortgage markets. Solidifi provides fast, high quality property valuations to its customers and we are excited about the enhanced solution that our lending and mortgage origination customers will receive as a result of this partnership." said Larry Mullins, Vice President of Lending Solutions at Davis + Henderson.
Solidifi has incorporated the appraisal review and scoring capabilities of AppraiserCentralTM within Solidifi ValuesTM. Solidifi ValuesTM provides mortgage lenders, brokers, and insurers with a valuation platform that automates the complex appraisal ordering and management process.
The two companies have also agreed that the mortgage lending community will benefit from additional value through an improved connection between Solidifi ValuesTM and Filogix Expert® and Filogix Express® solutions. Filogix, owned by Davis + Henderson, offers solutions that enhance the productivity of the mortgage community through automating mortgage origination and underwriting functions.
"Davis + Henderson and Filogix have a long and successful history in providing innovative solutions to the Canadian financial services market," said Jason Smith, President & CEO of Solidifi. "We are proud to have Davis + Henderson and Wells Fargo as our partners and we look forward to providing our customers and partners in the appraisal community with the valuable connectivity and risk management capabilities that result from this relationship."
About Wells Fargo Financial Corporation Canada
Headquartered in Mississauga, Ontario, Wells Fargo Financial Corporation Canada is a leading national provider of financial products and services, including mortgage financing and personal loans to Canadian consumers. Wells Fargo Financial also offers retail financing programs to national and local retailers through a network of more than 3,400 merchants. With more than 150 stores in all ten provinces and 2,500 team members across Canada, Wells Fargo Financial Corporation Canada, a $4.5 billion corporation, is part of Wells Fargo & Company.
About Davis + Henderson Income Fund
Davis + Henderson and its predecessors have been serving the Canadian financial services industry since 1875. Through integrated service offerings, Davis + Henderson is a market leader in providing programs to customers who offer chequing account and lending services within Canada. Davis + Henderson Income Fund is listed on the Toronto Stock Exchange, symbol DHF.UN. Further information can be found in the disclosure documents filed by Davis + Henderson Income Fund with the securities regulatory authorities, available at www.sedar.com.
About Solidifi Inc.
Solidifi delivers technology-based solutions to the North American mortgage industry. Solidifi provides mortgage lenders, brokers and insurers with dynamic solutions that assist them in making "incredibly smart decisions" while significantly reducing the time and cost involved in processing mortgage loans. Solidifi operates Canada's largest appraiser network and with a growing broker, lender and insurer base, Solidifi ValuesTM and Solidifi InsightTM are the premiere solutions for obtaining high quality real estate valuations. For more information, or to register, go to www.solidifi.com.
Filogix Expert and Filogix Express are registered Canadian Trademarks of Filogix Limited Partnership or its affiliates.
For more information, please contact:
Solidifi Inc.
Kevin Walton
Solidifi Inc.
Vice President, Operations
Tel: 905-739-1213
Fax: 905-739-1222
Email: kwalton@solidifi.com
Web: www.solidifi.com
Davis + Henderson Income Fund
Larry Mullins
Vice President, Lending Solutions
Tel: 416-696-7700
Email: larry.mullins@dhltd.com
Web: www.dhltd.com
Dec
Wells Fargo Financial Canada to Receive Innovative Valuation Solution.
Davis + Henderson And Solidifi Enhance Real Estate Valuations By Combining Services
Toronto, Ontario - December 3, 2007 - Wells Fargo Financial Canada, Davis + Henderson Income Fund (TSX: DHF.UN) and Solidifi Inc. announced today they have signed an agreement to combine AppraiserCentralTM and Solidifi ValuesTM, creating an enhanced and robust valuation solution for the mortgage lending and appraisal communities.
Wells Fargo Financial Canada is the first customer to utilize this revolutionary combined platform of Solidifi ValuesTM and AppraiserCentralTM to fulfill its property valuation and risk requirements for residential mortgages.
"Wells Fargo is excited about the substantial improvements to our collateral risk management capabilities that Solidifi ValuesTM provides. Valuing property for mortgage lending goes beyond just managing risk; by enhancing the speed and quality of the appraisal process, it is becoming a competitive differentiator for Wells Fargo in a changing Canadian lending market" said Steve Malone, Vice President, Wells Fargo Financial Canada.
The combination of platforms results in a broad national network of over 1,400 licensed appraisers, a highly secure web based transaction management solution that automates the appraisal and risk management functions, and a multilingual call centre providing national support.
"Solidifi has a proven track record of delivering innovative technology solutions to the global and Canadian mortgage markets. Solidifi provides fast, high quality property valuations to its customers and we are excited about the enhanced solution that our lending and origination customers will receive as a result of this partnership." said Larry Mullins, Vice President of Lending Solutions at Davis + Henderson.
Solidifi has incorporated the appraisal review and scoring capabilities of AppraiserCentralTM within Solidifi ValuesTM. Solidifi ValuesTM provides mortgage lenders, brokers, and insurers with a valuation platform that automates the complex appraisal ordering and management process.
The mortgage lending community will also gain additional value through an improved connection between Solidifi ValuesTM and Filogix' Expert and Express solutions. Filogix' solutions enhance the productivity of the mortgage community through automating mortgage processing and underwriting functions.
About Wells Fargo Financial Corporation Canada
Headquartered in Mississauga, Ontario, Wells Fargo Financial Corporation Canada is a leading national provider of financial products and services, including mortgage financing and personal loans to Canadian consumers. Wells Fargo Financial also offers retail financing programs to national and local retailers through a network of more than 3,400 merchants. With more than 150 stores in all ten provinces and 2,500 team members across Canada, Wells Fargo Financial Corporation Canada, a $4.5 billion corporation, is part of Wells Fargo & Company.
About Davis + Henderson Income Fund
Davis + Henderson and its predecessors have been serving the Canadian financial services industry since 1875. Through integrated service offerings, Davis + Henderson is a market leader in providing programs to customers who offer chequing account and lending services within Canada. Davis + Henderson Income Fund is listed on the Toronto Stock Exchange, symbol DHF.UN. Further information can be found in the disclosure documents filed by Davis + Henderson Income Fund with the securities regulatory authorities, available at www.sedar.com.
About Solidifi Inc.
Solidifi delivers technology-based solutions to the North American mortgage industry. Solidifi provides mortgage lenders, brokers and insurers with dynamic solutions that assist them in making "incredibly smart decisions" while significantly reducing the time and cost involved in processing mortgage loans. Solidifi operates Canada's largest appraiser network and with a growing broker, lender and insurer base, Solidifi ValuesTM and Solidifi InsightTM are the premiere solutions for obtaining high quality real estate valuations. For more information, or to register, go to www.solidifi.com.
For more information, please contact:
Kevin Walton
Solidifi Inc.
Vice President, Operations
Tel: 905-739-1213
Fax: 905-739-1222
Email: kwalton@solidifi.com
Web: www.solidifi.com
Davis + Henderson Income Fund
Steve Rotz
Vice President, Corporate Development
Tel: 416-696-7700
Email: steve.rotz@dhltd.com
Web: www.dhltd.com
Nov
Originators now have option of paying with MERIX X REWARD credits as part of new service.
Merix Financial And Solidifi Offer Mortgage Originators New Payment Option
Toronto, ON - November 30, 2007 - Solidifi Inc., Canada's most innovative technology-based mortgage solutions provider and MERIX Financial Inc., one of Canada's fastest growing mortgage lenders, today have announced that as part of the introduction of Solidifi Appraisal AccessTM, a new originator fulfillment service, approved mortgage originators will also have the ability to pay for appraisals ordered through Solidifi with MERIX X REWARD credits.
This new offering also coincides with the launch of Solidifi InsightTM, an innovative new mortgage appraisal review and scoring solution targeted at streamlining and enhancing the risk management process for mortgage lending in Canada. Solidifi InsightTM is the only solution in Canada that allows lenders to automatically review and score property appraisals against a set of proprietary risk rules, built around appraisal industry standards. The rules also allow lenders to configure certain elements to align with their lending policy.
Solidifi ValuesTM, already used extensively by originators across the country, provides mortgage originators and lenders with a platform that automates the complex appraisal ordering and management process by facilitating payment, status updates, delivery and storage of the appraisal. With the addition of Solidifi Appraisal AccessTM, all originators now have a convenient new way to place appraisal orders by phone or email while out of the office or away from the computer. For MERIX approved originators, credits can be used to pay for the cost of appraisals ordered through Solidifi ValuesTM. Furthermore, originators are able to access Solidifi directly through MERIX EXPLORE.
Boris Bozic, President of MERIX remarks: "Our focus is on building strong relationships with high quality originators by continuing to offer unique, value-add services and offerings. We believe that the flexibility and ease of redeeming MERIX credits for appraisals offered through our relationship with Solidifi brings additional value to our origination partners and further demonstrates our commitment to being the originator's advocate in this industry."
Boris continues, "MERIX believes the Solidifi platform and the addition of Solidifi InsightTM appraisal scoring provides an effective manner in which MERIX is able to minimize the risks associated with independent appraisals, creating additional protection for MERIX and our approved originators."
MERIX offers its innovative suite of mortgage products and programs exclusively through independent mortgage professionals. The company has achieved phenomenal sales since launching in September 2005 with the assistance of its high quality approved originators.
"We are thrilled to be given the opportunity to give originators new risk management tools, as well as additional payment methods including MERIX X REWARD credits." says Jason Smith, President & CEO, Solidifi. "Solidifi continues to be laser focused on the needs of the Canadian mortgage community. Clearly, the market is asking for more flexibility, without compromising speed, quality and cost. We have answered this call with Solidifi Appraisal AccessTM and Solidifi InsightTM."
About MERIX Financial Inc.
MERIX Financial Inc. is an intermediary between mortgage wholesalers and mortgage originators, bringing superior sales and service operations and extensive mortgage alternatives. By way of its relationship with wholesalers, MERIX Financial is responsible for originating mortgage volumes via independent mortgage originators while providing originators with more choice and innovative product choices for their customers. MERIX Financial places an emphasis on process enhancement, selective access to the MERIX brand and products, innovative compensation models, and enabling originators to maintain the customer relationship throughout the mortgage life cycle. MERIX Financial is a national company with its head office located in Toronto, ON, Canada.
Operating with state-of-the-art technology and extensive knowledge of the Canadian mortgage market, Paradigm offers a customizable platform from which multiple lenders can source business through various origination channels.
About Solidifi Inc.
Solidifi delivers technology-based solutions to the North American mortgage industry. Solidifi provides mortgage lenders, brokers and insurers with dynamic solutions that assist them in making "incredibly smart decisions" while significantly reducing the time and cost involved in processing mortgage loans. Solidifi operates Canada's largest appraiser network and with a growing broker, lender and insurer base, Solidifi ValuesTM and Solidifi InsightTM are the premiere solutions for obtaining high quality real estate valuations. For more information, or to register, go to www.solidifi.com.
For more information, please contact:
James Kim
Solidifi Inc.
Director, Appraisal Services
Tel: 905-739-1213
Fax: 905-739-1222
Email: jkim@solidifi.com
Web: www.solidifi.com
MERIX Financial Inc.
Phone: (877) - MERIX -11 or (877-691-4311)
Email: info@merixfinancial.com
Web: www.merixfinancial.com
Nov
Paradigm to be the first customer to utilize this innovative new tool to streamline the appraisal review and decisioning process.
Solidifi Introduces Solidifi InsightTM Automated Appraisal Review And Scoring Solution With Paradigm Financial
Toronto, ON - November 30, 2007 - Solidifi Inc., Canada's most innovative technology-based mortgage solutions provider and Paradigm Quest Inc. ("Paradigm"), a mortgage service provider that specializes in delivering innovative and competitive mortgage and home equity line of credit options for broker lenders and customers, today have announced the launch of Solidifi InsightTM, an innovative new mortgage appraisal review and scoring solution targeted at streamlining and enhancing the risk management process for mortgage lending in Canada.
Solidifi InsightTM is the only solution in Canada that allows lenders to automatically review and score property appraisals against a set of proprietary risk rules, built around appraisal industry standards. The rules also allow lenders to configure certain elements to align with their lending policy.
Solidifi InsightTM is an integral part of Solidifi ValuesTM which provides mortgage brokers and lenders with a platform that automates the complex appraisal ordering and management process by facilitating payment, status updates, delivery and storage of the appraisal. With the addition of Solidifi InsightTM, an additional layer of risk management and fraud prevention is introduced to ensure that the collateral due diligence meets the highest standards, whether for balance sheet lending or secondary market funding.
"By utilizing Solidifi InsightTM, not only are we able to speed up the appraisal review process for our underwriters, but we are able to offer our funding sources additional due diligence." says Mark Kerzner, EVP Operations, Paradigm. "With these checks and balances in place, lenders who process loans through Paradigm can have additional confidence that a standardized, unbiased process has been consistently applied across their book of business."
As one of Canada's leading mortgage outsourcing companies, Paradigm's mandate is to enable new and existing lenders with a cost effective mortgage operation solution that can quickly respond to market conditions, lead the market in innovation and ultimately provide mortgage consumers with great choice, vastly improving their mortgage experience.
"Solidifi is thrilled to be launching this innovative solution with such a progressive new customer" says Jason Smith, President & CEO, Solidifi. "We believe that the best is yet to come, as we continue to innovate our suite of valuation risk management products. By working together with key players like Paradigm in the mortgage lending marketplace, all of our customers will continue to benefit from the solutions that result."
About Paradigm Quest Inc.
Launched in 2005, Paradigm Quest Inc., www.paradigmquest.com, is a leading Canadian mortgage underwriting and servicing company that enables both incumbents and new lenders to focus on their core competencies.
Operating with state-of-the-art technology and extensive knowledge of the Canadian mortgage market, Paradigm offers a customizable platform from which multiple lenders can source business through various origination channels.
About Solidifi Inc.
Solidifi delivers technology-based solutions to the North American mortgage industry. Solidifi provides mortgage lenders, brokers and insurers with dynamic solutions that assist them in making "incredibly smart decisions" while significantly reducing the time and cost involved in processing mortgage loans. Solidifi operates Canada's largest appraiser network and with a growing broker, lender and insurer base, Solidifi ValuesTM and Solidifi InsightTM are the premiere solutions for obtaining high quality real estate valuations. For more information, or to register, go to www.solidifi.com.
For more information, please contact:
Kevin Walton
Solidifi Inc.
Vice President, Operations
Tel: 905-739-1213
Fax: 905-739-1222
Email: kwalton@solidifi.com
Web: www.solidifi.com
Paradigm Quest Inc.
Phone: (416) 366-8606
Email: info@paradigmquest.com
Web: www.paradigmquest.com
Nov
Solidifi ValuesTM Ordering now available by phone and email for brokers on the go.
Solidifi Launches New Broker Appraisal Fulfillment Service With Verico Financial
Vancouver, BC & Markham, ON - November 30, 2007 - Solidifi Inc., Canada's most innovative technology-based mortgage solutions provider and VERICO Financial Group Inc., Canada's largest mortgage broker network, today have announced the introduction of Solidifi Appraisal AccessTM, a new broker fulfillment service available to VERICO network members across the country.
Solidifi ValuesTM, already used extensively by VERICO brokers across the country, provides mortgage brokers and lenders with a platform that automates the complex appraisal ordering and management process by facilitating payment, status updates, delivery and storage of the appraisal. With the addition of Solidifi Appraisal AccessTM, VERICO brokers now have a convenient new way to place appraisal orders by phone or email while out of the office or away from the computer.
"While many VERICO Brokers like the ease and time savings of ordering online with Solidifi ValuesTM, many find that from time to time, they are away from the office, or away from an internet connection" says John Kelly, COO, VERICO. "With Solidifi Appraisal AccessTM, brokers can carry a convenient card with them that gives them the essential information needed to quickly place an order on the go, while still receiving all of the benefits of electronic tracking, email updates and borrower payment options provided by Solidifi ValuesTM."
The VERICO Network has grown to over 100 member firms, located throughout Canada that collectively originate in excess of $6 billion in annualized mortgage loan volume.
"Solidifi is proud to offer this new service to VERICO Financial and its highly respected broker network" says Jason Smith, President & CEO, Solidifi. "VERICO has a proven track record of rapid growth, while providing unparalleled business services and support to their broker members. We are happy to be given this opportunity to further enhance our existing relationship with VERICO."
For further information on how to receive your VERICO Solidifi Appraisal AccessTM Card, please contact us at 1-866-583-3983.
About VERICO Financial Group Inc.
VERICO Mortgage Brokers Network is committed to ensuring our members have a clear competitive edge and we will continue to develop services, products and innovative ways to enhance their business.
About Solidifi Inc.
Solidifi delivers technology-based solutions to the North American mortgage industry. Solidifi provides mortgage lenders, brokers and insurers with dynamic solutions that assist them in making "incredibly smart decisions" while significantly reducing the time and cost involved in processing mortgage loans. Solidifi operates Canada's largest appraiser network and with a growing broker, lender and insurer base, Solidifi ValuesTM and Solidifi InsightTM are the premiere solutions for obtaining high quality real estate valuations. For more information, or to register, go to www.solidifi.com.
For more information, please contact:
James Kim
Solidifi Inc.
Director, Appraisal Services
Tel: 905-739-1213
Fax: 905-739-1222
Email: jkim@solidifi.com
Web: www.solidifi.com
John P. Kelly
Chief Operating Officer
Tel: 1.866.9 VERICO
Fax: 1.877.9 VERICO
Email: mail@verico.ca
Web: www.verico.ca
Mar
Canada Call Mortgages Chooses Solidifi ValuesTM as it's Exclusive Appraisal Platform
Toronto, Ontario - March 28, 2007 - Solidifi Inc., Canada's most innovative technology-based mortgage solutions provider, announces the exclusive use of Solidifi ValuesTM with Canada Call Mortgages, which offers mortgage clients the best mortgage financing options in Canada.
"Canada Call Centre has achieved success through choosing business partners that help it succeed," says Nick Hozjan, President and Owner of Canada Call Mortgages. "Solidifi ValuesTM makes it very simple and cost effective to arrange an appraisal, and this allows us to reinvest the time and money we save into our customer relationships."
Solidifi ValuesTM provides mortgage brokers and lenders with a platform that automates the complex appraisal ordering and management process by facilitating payment, status updates, delivery and storage of the appraisal.
"Canada Call Mortgages has consistently been one of the top mortgage brokerages in Canada," says Jason Smith, President and CEO of Solidifi Inc. "We are ecstatic that a proven and successful mortgage brokerage like Canada Call Mortgages have chosen Solidifi ValuesTM to help them improve on their mortgage process."
With more than 15 years mortgage experience, Nick Hozjan has been ranked the top mortgage broker in Canada for four consecutive years.
Nick is considered an expert in the mortgage industry. Nick has appeared on both radio and television programs, and has also assumed broker advisory board positions with many banks.
About Canada Call Mortgage
The success of Canada Call Mortgages has been built on honesty and integrity, along with their ability to offer mortgage clients the best mortgage financing options in Canada. Unlike the individual banks and trust companies, our mortgage service is highly specialized.
They've grown their business by serving and protecting their clients' best interests; and continue to offer the best mortgage products and lowest mortgage rates to Canadians due to the high volume of mortgages they originate within the mortgage industry.
About Solidifi
Solidifi is a Canadian owned company that delivers technology-based solutions to the North American mortgage industry. Solidifi focuses on providing customers with dynamic solutions that significantly reduce the time and cost involved in mortgage lending and insuring activities. With national appraisal firm coverage and a growing broker, lender, and insurer population, Solidifi ValuesTM is the premiere platform for obtaining real estate valuations. For more information, or to register, go to www.solidifi.com.
SAFE HARBOUR
This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Such statements include, but are not limited to, deployment of new services and products, and growth of our customer base. Actual results may differ materially from those anticipated in any forward-looking statement with regard to magnitude, timing or other factors. Any such statements are subject to risks and uncertainties, including, without limitation, the company's dependence on third parties, market conditions for the sale of services, technical developments, availability of capital, and other risks and uncertainties. The company disclaims any obligation to update information contained in any forward-looking statement.
For more information, please contact:
James Kim
Solidifi Inc.
905-530-2387
jkim@solidifi.com
Mary-Leigh Mark
Canada Call Mortgage
416-533-5221
mary@ccmortgages.com
Dec
Solidifi ValuesTM Selected to Speedup & Improve Appraisal Process for VERICO Mortgage Brokers Network.
Verico and Solidifi Launch New Appraisal Solution
Vancouver, BC & Markham, ON - December 18, 2006 - Solidifi Inc., Canada's most innovative technology-based mortgage solutions provider and VERICO, Canada's largest and fastest growing mortgage broker network, today announce VERICO'S use of Solidifi ValuesTM as the key component of VERICO'S new appraisal solution which is now available to VERICO members across the country.
Built on a unique business model, Solidifi ValuesTM is an automated web based solution for managing the appraisal lifecycle including appraiser selection, appraiser management, centralized web based billing and scheduling, appraisal status, documents management, and effortless communication between brokers, lenders, and appraisers - all of which have made Solidifi ValuesTM a front runner in the industry.
"This alignment with Solidifi ValuesTM offers our broker members an easy to use service that eliminates significant time and cost when ordering and managing an appraisal, while at the same time dramatically improving the Mortgage Broker and borrower experience" says John Kelly, COO, Verico Financial. "Our alignment with Solidifi further demonstrates our commitment to continually deliver exceptional and unique services that provide real value to our mortgage broker members and the homeowner's they serve."
The Verico Network has grown to over seventy member firms located throughout Canada that employ over 550 agents who collectively originate in excess of $4.5 billion in annualized mortgage loan volume and consequently order thousands of appraisal transactions annually.
"Solidifi is committed to providing technology-based services that make it extremely simple for mortgage brokers and lenders to accurately value residential real estate." says Jason Smith, President & CEO, Solidifi. "VERICO has a proven track record of rapid growth while providing unparalleled innovation and services to support their broker members. We are very proud to be a Preferred Vendor of the VERICO Mortgage Broker Network."
About Verico Financial Group Inc.
The Verico Mortgage Brokers Network is administered by Verico Financial Group Inc., a federally incorporated management company. Verico Financial Group Inc. continually strives to develop a network of Canada's most trusted mortgage experts that provide the highest standard of brokerage services to their customer and lender partners through a dedication to professionalism, advocacy and ethics www.verico.ca.
About Solidifi
Solidifi is a Canadian owned company that delivers technology-based solutions to the North American mortgage industry. Solidifi focuses on providing customers with dynamic solutions that significantly reduce the time and cost involved in mortgage lending and insuring activities. With national appraisal firm coverage and a growing broker, lender, and insurer population, Solidifi ValuesTM is the premiere solution for obtaining real estate valuations. For more information, or to register, go to www.solidifi.com.
SAFE HARBOUR
This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Such statements include, but are not limited to, deployment of new services and products, and growth of our customer base. Actual results may differ materially from those anticipated in any forward-looking statement with regard to magnitude, timing or other factors. Any such statements are subject to risks and uncertainties, including, without limitation, the company's dependence on third parties, market conditions for the sale of services, technical developments, availability of capital, and other risks and uncertainties. The company disclaims any obligation to update information contained in any forward-looking statement.
For more information, please contact:
James Kim
Solidifi Inc.
Director, Sales and Operations
jkim@solidifi.com
905-530-2387
John P. Kelly
Chief Operating Officer
Verico Financial Group Inc.
john.kelly@verico.ca
604-681-6155
Dec
PMI Canada and Solidifi Sign Agreement For Collateral Analytics Software
Toronto, Ontario - December 7, 2006 - Solidifi Inc. and PMI Mortgage Insurance Company Canada, the subsidiary of The PMI Group, Inc. (NYSE: PMI) that, subject to regulatory approval, will soon offer mortgage insurance in Canada, announced today they have signed a Letter of Intent to develop customized real estate valuation software to be used by PMI Canada.
Subject to the conclusion of a contract, PMI Canada will engage Solidifi to provide collateral assessment analytics software and services to improve the efficiency and effectiveness of its valuation tools in the marketplace. These services will assist PMI Canada in providing rapid response to mortgage insurance requests from Canadian lending institutions.
"PMI has a long and successful history in providing innovative mortgage insurance solutions globally. Solidifi's collateral assessment solution is a key element in our growing operations capabilities and will support our commitment to bring more choices to Canadian customers," said Janet Martin, Managing Director, PMI Canada.
"Solidifi has assembled a dynamic team of individuals with exceptional global and Canadian experience in automating real estate valuations including traditional appraisals and automated valuation models," said Jason Smith, President & Chief Executive Officer, Solidifi. "We are proud to have a global leader such as PMI as a key collateral assessment solution customer."
Solidifi's platform, Solidifi ValuesTM, provides mortgage lenders and insurers with a platform that automates the complex appraisal ordering and management process, provides access to automated valuation models, and facilitates the processing of data analytics.
In May, PMI announced it had filed an application with the Office of the Superintendent of Financial Institutions to write mortgage insurance in Canada. It is currently building its Canadian team and recently named the Board of Directors of PMI Canada.
About The PMI Group, Inc.
The PMI Group, Inc. (NYSE: PMI), headquartered in Walnut Creek, CA, provides innovative credit, capital, and risk transfer solutions that expand homeownership and fund essential services for our customers and the communities they serve around the world. Through its wholly and partially owned subsidiaries, PMI offers residential mortgage insurance and credit enhancement products, financial guaranty insurance, and financial guaranty reinsurance. PMI has operations in Asia, Australia and New Zealand, Europe, and the United States. For more information: www.pmigroup.com.
About Solidifi
Solidifi is a Canadian owned company that delivers technology-based solutions to the North American mortgage industry. Solidifi focuses on providing customers with dynamic solutions that significantly reduce the time and cost involved in mortgage lending and insuring activities. With national appraisal firm coverage and a growing broker, lender, and insurer population, Solidifi ValuesTM is the premiere platform for obtaining real estate valuations. For more information, or to register, go to www.solidifi.com.
SAFE HARBOUR
This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Such statements include, but are not limited to, deployment of new services and products, and growth of our customer base. Actual results may differ materially from those anticipated in any forward-looking statement with regard to magnitude, timing or other factors. Any such statements are subject to risks and uncertainties, including, without limitation, the company's dependence on third parties, market conditions for the sale of services, technical developments, availability of capital, and other risks and uncertainties. The company disclaims any obligation to update information contained in any forward-looking statement.
For more information, please contact:
Justin Phillips
Media Relations
HiPoint Marketing
905-513-1177 x 4440
jphillips@hipointmarketing.com
John Lute or Peter Aterman
Lute & Co.
416-929-5883
jlute@luteco.com; paterman@luteco.com
Dec
Solidifi ValuesTM to Strengthen Concentra's Relationship with Appraisers.
Concentra Financial Partners With Solidifi To Enhance National Appraisal Process
Markham, Ontario - December 1, 2006 - Solidifi Inc., Canada's most innovative technology-based mortgage solutions provider, announces the use of Solidifi ValuesTM by Concentra Financial, a credit union company and an integral part of the Canadian co-operative financial system.
"Concentra Financial's use of Solidifi ValuesTM results in faster appraisals and lower management costs while strengthening our direct relationships with appraisers across Canada." says Norm Klatt, VP, Financial Services, Concentra Financial.
Built on a unique business model, Solidifi ValuesTM is an automated web based solution for managing the appraisal lifecycle including appraiser selection, appraiser management, centralized web based billing and scheduling, appraisal status, documents management, and effortless communication between brokers, lenders, and appraisers - all of which have made Solidifi ValuesTM a front runner in the industry.
"We are delighted to have a dynamic industry leader such as Concentra Financial as our partner," says Jason Smith, President and CEO, Solidifi. "Concentra Financial's selection of Solidifi ValuesTM, further validates our unique model of enabling the lender and appraiser relationship through effective use of technology and services."
"Solidifi has made it much easier for us to obtain and manage our appraisals," says Jane Kubilda, Manager, Mortgage Origination, Concentra Financial. "Solidifi ValuesTM automates and improves our internal and mortgage broker appraisal orders, and enables us to better manage our approved appraiser panel."
About Concentra Financial
Concentra Financial is Canada's first federally-regulated financial services association, a co-operative that is wholly-owned by credit unions, their Centrals, and system insurers, Co-operators and CUMIS. Concentra operates nationally and, along with its financial and trust business solutions, provides competitive commissions, rates and mortgage features to mortgage brokers and their clients. www.concentrafinancial.ca
About Solidifi
Solidifi is a Canadian owned company that delivers technology-based solutions to the North American mortgage industry. Solidifi focuses on providing customers with dynamic solutions that significantly reduce the time and cost involved in mortgage lending and insuring activities. With national appraisal firm coverage and a growing broker, lender, and insurer population, Solidifi ValuesTM is the premiere platform for obtaining real estate valuations. For more information, or to register, go to www.solidifi.com.
SAFE HARBOUR
This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Such statements include, but are not limited to, deployment of new services and products, and growth of our customer base. Actual results may differ materially from those anticipated in any forward-looking statement with regard to magnitude, timing or other factors. Any such statements are subject to risks and uncertainties, including, without limitation, the company's dependence on third parties, market conditions for the sale of services, technical developments, availability of capital, and other risks and uncertainties. The company disclaims any obligation to update information contained in any forward-looking statement.
For more information, please contact:
James Kim
Solidifi Inc.
Director, Sales and Operations
jkim@solidifi.com
905-530-2387
Nov
Solidifi ValuesTM to be Integrated with CRALTM for All Users Across Canada.
Solidifi and ACI Streamline and Improve The Accuracy of Canadian Appraisals
Markham, Ontario - November 13, 2006 - Solidifi Inc., Canada's most innovative technology-based mortgage solutions provider, announces the seamless integration of Solidifi ValuesTM with CRALTM from ACI, Canada's leading provider of technology for appraisers.
Solidifi ValuesTM provides the mechanism for lenders, brokers, and insurers to facilitate real estate appraisals with approved providers across Canada.
"Our mission is to make the entire appraisal process simple, more efficient and less expensive," says Jason Smith, President & CEO, Solidifi. "The integration of ACI CRALTM with our solution will ultimately result in higher quality appraisals being completed in less time."
With this announcement, appraisers that use ACI's CRALTM will gain efficiencies and improve the accuracy of their appraisals by having their appraisal forms automatically populated with data from Solidifi ValuesTM. This will greatly reduce the cycle time and errors caused by manually re-keying data from one system to the next.
"We do seventy appraisals a week, and that translates into hundreds of e-mails, faxes, and phone calls, not to mention the administrative labor associated with entering data into ACI CRALTM," says Jason Jung, President, Parkview Appraisals & Consulting. "The integration of Solidifi ValuesTM will save us hundreds of hours a year in labor."
"Our relationship with Solidifi brings significant value to the users of CRALTM," says George Opelka, Vice President, ACI. At ACI, our customers look to us to help make their processes more efficient. The Solidifi integration will assist appraisers by dramatically accelerating their appraisal process."
Solidifi and ACI intend to continually enhance the integration service by improving the compliance and quality assurance aspects of the appraisal acceptance process.
About ACI
ACI, a pioneer in crafting technology solutions for the valuation community, has gained industry-wide recognition and support from leaders in the field. ACI's highly scalable appraisal solutions ensure a partnership tailored to the needs of the organizations it services. The ACI client base features many of North America's premier lenders, national appraisal companies, and real estate brokerage firms. From connecting appraisers nationwide to streamlining quality control, the flexibility provided gives organizations the means for processing appraisals and managing exceptions in a consistent and efficient manner.
Headquartered in Palm Coast, Florida, ACI's management and development team garner the type of experience coveted by decision makers responsible for bringing synergy to their daily workflows and processes. ACI's solutions are custom-configured to fit the unique characteristics of each enterprise, at the same time offering the stability of tried and true technology that works in today's market. Additional information is available on the Internet at www.aciweb.com.
About Solidifi
Solidifi is a Canadian owned company that delivers technology-based solutions to the North American mortgage industry. Solidifi focuses on providing customers with dynamic solutions that significantly reduce the time and cost involved in mortgage lending and insuring activities. With more than 300 lender-approved appraisal firms and a growing broker, lender, and insurer population, Solidifi ValuesTM is the premiere platform for obtaining real estate valuations. For more information, or to register, go to www.solidifi.com.
SAFE HARBOUR
This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Such statements include, but are not limited to, deployment of new services and products, and growth of our customer base. Actual results may differ materially from those anticipated in any forward-looking statement with regard to magnitude, timing or other factors. Any such statements are subject to risks and uncertainties, including, without limitation, the company's dependence on third parties, market conditions for the sale of services, technical developments, availability of capital, and other risks and uncertainties. The company disclaims any obligation to update information contained in any forward-looking statement.
For more information, please contact:
Justin Phillips
Media Relations
HiPoint Marketing
905-513-1177 x.4440
jphillips@hipointmarketing.com
Nov
Solidifi ValuesTM to be Integrated with Filogix's Express and Expert Solutions.
Solidifi Partners With Filogix To Speed Up And Simplify Mortgage Underwriting Process
Markham, Ontario - November 10, 2006 - Solidifi Inc., Canada's most innovative technology-based mortgage solutions provider, has announced a strategic partnership with Filogix Limited Partnership, Canada's leading technology provider to the mortgage and real-estate industries.
"We are excited about the mutual benefit this partnership with Solidifi will provide our customers," said Filogix Executive Vice President, Corporate Development, John Bordignon. "The integration of Solidifi ValuesTM with Filogix lender underwriting and processing system Filogix Express® and Filogix mortgage origination point of sale system Filogix Expert® will provide mortgage lenders and originators more control over the appraisal portion of the underwriting process by facilitating appraisals faster, cheaper and smarter." Using the seamless electronic connectivity between Solidifi ValuesTM and Filogix underwriting and origination systems, brokers and lenders can now complete the appraisal ordering and management process electronically through the Filogix marketplaceTM.
"Solidifi ValuesTM makes it faster and more efficient for brokers to obtain an appraisal while maintaining our local appraiser relationships," said Karl Straky, Mortgage Intelligence. "Embedding Solidifi into Filogix Expert, a system we already use, provides complete ease of use with no interruption to the business."
Solidifi ValuesTM will enable Filogix Express and Expert customers to seamlessly order an appraisal from a lender-approved appraiser of their choice. Through this connection with Filogix, all customer and transactional data is automatically populated into the Solidifi ValuesTM platform, saving time and reducing the risk of error caused by re-entering data. Solidifi ValuesTM facilitates the entire appraisal transaction process, including reporting status messages back to Filogix Express and Expert.
"Mortgage lenders and originators want to enhance service for the borrower while improving their risk management practices," says Jason Smith, President and CEO, Solidifi. "Our partnership with Filogix results in faster, higher quality appraisals while strengthening the relationships between brokers, lenders, and appraisers.
About Filogix Limited Partnership
Filogix Limited Partnership is Canada's leading technology provider to the mortgage and real estate industries. Filogix products and services are used by financial institutions, private lenders, mortgage brokers and real estate professionals to facilitate, organize, process and streamline transactions, making it a more cost-effective, organized and productive process. The Filogix network connects more than 12,500 Realtors ® , 9,500 mortgage originators, 77 lender options including all major banks, credit bureaus, mortgage insurers, creditor insurance companies, document management servicing and countless business portals so they may interact and conduct business transactions.
Information about Filogix is available on the Internet at: www.filogix.com
About Solidifi
Solidifi is a Canadian owned company that delivers technology-based solutions to the North American mortgage industry. Solidifi focuses on providing customers with dynamic solutions that significantly reduce the time and cost involved in mortgage lending and insuring activities. With more than 300 lender-approved firms and a growing broker, lender, and insurer population, Solidifi ValuesTM is the premiere platform for obtaining real estate valuations. For more information, or to register, go to www.solidifi.com.
SAFE HARBOUR
This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Such statements include, but are not limited to, deployment of new services and products, and growth of our customer base. Actual results may differ materially from those anticipated in any forward-looking statement with regard to magnitude, timing or other factors. Any such statements are subject to risks and uncertainties, including, without limitation, the company's dependence on third parties, market conditions for the sale of services, technical developments, availability of capital, and other risks and uncertainties. The company disclaims any obligation to update information contained in any forward-looking statement.
For more information, please contact:
Justin Phillips
Media Relations, HiPoint Marketing
905-513-1177 x.4440
jphillips@hipointmarketing.com
Andrew Wagar
Communications Specialist, Filogix 416-360-1777 ext. 3213
andrew.wagar@filogix.com
Nov
Solidifi ValuesTM is the Fastest Solution for Brokers, Lenders, and Insurers to Obtain an Appraisal while Maintaining their Appraiser Relationships.
Solidifi Revolutionizes The Real Estate Appraisal Process
Markham, Ontario - November 10, 2006 - Solidifi Inc., Canada's most innovative property-valuation solutions provider announces the launch of Solidifi ValuesTM, a web-based application that automates the complex appraisal ordering process while managing the relationships between brokers, lenders, appraisers, insurers, and borrowers.
"Solidifi ValuesTM is truly revolutionizing the appraisal management process," says Jason Smith, President and CEO, Solidifi. "We provide a platform for appraisers, brokers and lenders that facilitates the appraisal process, providing all parties with more control thanks to workflow and communications automation." Solidifi ValuesTM speeds up the mortgage approval process, getting money into the hands of the borrower at a faster pace and with less fuss.
Built on a unique business model, Solidifi ValuesTM is an automated web-based solution for managing the appraisal lifecycle including appraiser selection and appraisal management, centralized web-based billing and scheduling, appraisal status, documents management and effortless communication between brokers, lenders, and appraisers -- all of which have made Solidifi ValuesTM a front runner in the industry.
"Using Solidifi ValuesTM was not a hard decision to make," affirms Art Appelberg, President, Northwood Mortgage Ltd. "We get the best appraisers at competitive rates and the process is automated, which saves us a ton of time," Appelberg adds, "the bottom line is Solidifi ValuesTM frees us from the mundane requirements of processing a loan, giving us time to refocus on things like growing the business."
Solidifi ValuesTM has already reached a critical mass within the appraiser market. With over 300 lender-approved firms registered across Canada, Solidifi ValuesTM provides a national network of appraisers from the approved lists of Canada's lenders.
"This solution not only provides us with a steady stream of orders, but enables us to select orders based on such criteria as location, price and working with existing or new clients," says Fred Goldberg, CRA, GTA Property Appraisals Inc. "The streamlining of the process means time can be spent building new relationships as well as strengthening existing ones," adds Fred.
Jason Smith, Co-founder and former Executive Vice President of Basis100 explains that the solutions were in direct response to industry needs. "We have listened and responded to the requirements of our customers and built our solutions to address their issues, helping them work faster, cheaper and smarter." Solidifi is committed to taking direction from the market place for further enhancements to our solutions. One example is our upcoming integration into the mortgage point of sale system, eliminating the need to re-enter borrower's information into Solidifi ValuesTM.
"We continue to build partnerships within the financial services vertical to further streamline the mortgage process and provide a platform for fulfilling the mortgage process," adds James Kim, Director, Sales & Operations, Solidifi.
About Solidifi
Solidifi is a Canadian owned company that delivers technology-based solutions to the North American mortgage industry. Solidifi focuses on providing customers with dynamic solutions that significantly reduce the time and cost involved in mortgage lending and insuring activities. With more than 300 lender-approved firms and a growing broker, lender, and insurer population, Solidifi ValuesTM is the premiere platform for obtaining real estate valuations. For more information, or to register, go to www.solidifi.com.
SAFE HARBOUR
This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Such statements include, but are not limited to, deployment of new services and products, and growth of our customer base. Actual results may differ materially from those anticipated in any forward-looking statement with regard to magnitude, timing or other factors. Any such statements are subject to risks and uncertainties, including, without limitation, the company's dependence on third parties, market conditions for the sale of services, technical developments, availability of capital, and other risks and uncertainties. The company disclaims any obligation to update information contained in any forward-looking statement.
For more information, please contact:
Justin Phillips
Media Relations
HiPoint Marketing
905-513-1177 x.4440
jphillips@hipointmarketing.com


