Solidifi Expands Collateral Valuation Services to the U.S. Mortgage Market and Opens Local Head Office

Solidifi's technology to enable independent and fully transparent collateral valuation marketplace with integrated risk management capabilities

CHICAGO, May 12 /PRNewswire/ -- Solidifi Inc., a leading technology-based provider of collateral valuation and risk management services in Canada, announced today that it has opened its U.S. head office in Chicago, Illinois, and extended its suite of solutions into the national mortgage market.

'We have assembled a high performance and experienced financial services team to execute our strategy,' says Jason Smith, President and CEO of Solidifi, and co-founder of Basis100. 'Through our work with U.S. based lenders and global mortgage insurance companies, we are well prepared to provide immediate solutions to the collateral risk assessment challenges currently facing the mortgage industry.'

In light of impending market changes surrounding the introduction of the Home Valuation Code of Conduct ('HVCC'), Solidifi has invested significant resources preparing its Solidifi Values(TM) collateral management platform for the U.S. market, offering mortgage professionals, lenders, and investors with solutions that are flexible and provide transparency in collateral valuations. This is further enhanced through the company's risk management solutions including Solidifi Insight(TM) which allows lenders and secondary market participants to enforce collateral policy requirements and detect areas of risk within appraisal and AVM reports during the underwriting process.

'Solidifi's fully transparent model is founded on the premise of appraiser independence, quality, and speed -- not just the lowest fee,' states Mr. Smith. 'Appraisers conduct business with mortgage participants by setting their own fees, and competing in an open market based on real-time service, speed, and quality metrics. With our configurable and automated assignment algorithms, mortgage participants can set their collateral policy geographically and allow Solidifi to transparently manage the valuation transaction within an HVCC compliant framework as required. Collateral risk management is further enhanced with Solidifi's collateral decision tools and automated appraisal review capabilities.'

Regulatory compliance is a fundamental contributor to appraisal quality and acceptability for use in mortgage lending. Annual USPAP issuance, additional state and federal requirements, and changing end investor requirements will continue to be key drivers to collateral risk management protocol. Solidifi enforces compliance to the lender's requirements throughout the lifecycle of the appraisal, from order through to acceptance.

About Solidifi Inc.

Solidifi is a leading provider of collateral valuation, risk management and data analytic services to the North American mortgage industry. Solidifi provides mortgage lenders and professionals with a flexible service platform for procuring collateral valuations from marketplace vendors and appraisers, with complete transparency and data to make 'incredibly smart decisions'. Solidifi currently serves leading global financial institutions and operates Canada's largest appraiser network. Solidifi is located in Toronto, ON and Chicago, IL. For more information, visit www.solidifi.com.

For more information, please contact:
Mike Kraemer
Solidifi Inc.
Two Prudential Plaza
180 North Stetson Suite 3500
Chicago, IL 60601
Tel: 312-268-5679
Fax: 312-268-5801
Email: mkraemer@solidifi.com
Web: www.solidifi.com

CONTACT: Mike Kraemer of Solidifi Inc., +1-312-268-5679,
mkraemer@solidifi.com

Web site: http://www.solidifi.com/