Desjardins Credit Union Chooses Solidifi for Collateral Valuation and Risk Management Services



    
    Mortgage Brokers Arranging Appraisals for Desjardins Credit Union to
Select
    the Right Appraiser -- Balancing Quality, Turnaround Time and Price
    

    TORONTO, July 2 /CNW/ -- 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 Values(TM) is a web-based collateral management
platform for arranging property valuations, combining the latest technology
with the largest appraisal partnership across Canada. Solidifi Values(TM)
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 Insight(TM) 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 Insight(TM) 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, visit 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 Quebec
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
    Solidifi Inc.
    Tel: 905-739-1212
    Fax: 905-739-1222
    Email: mkraemer@solidifi.com
    Web: www.solidifi.com
    




For further information:

For further information: Mike Kraemer, +1-905-739-1212, Fax: 
+1-905-739-1222, mkraemer@solidifi.com, of Solidifi Inc. Web Site:
http://www.solidifi.com                  http://www.desjardins.com

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