Paradigm to be the first customer to utilize this innovative new tool to
streamline the appraisal review and decisioning process
TORONTO, Dec. 3 /CNW/ -- 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
Insight(TM), an innovative new mortgage appraisal review and scoring solution
targeted at streamlining and enhancing the risk management process for
mortgage lending in Canada.
(Logo: http://www.newscom.com/cgi-bin/prnh/20061206/SFTU121LOGO )
Solidifi Insight(TM) 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
Solidifi Insight(TM) is an integral part of Solidifi Values(TM) 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 Insight(TM), 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
"By utilizing Solidifi Insight(TM), 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 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 Values (TM) and Solidifi Insight(TM)
are the premiere solutions for obtaining high quality real estate valuations.
For more information, or to register, go to www.solidifi.com
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.
For more information, please contact:
Vice President, Operations
Paradigm Quest Inc
Phone: (416) 366-8606
For further information:
For further information: Kevin Walton, Vice President, Operations of
Solidifi Inc., +1-905-739-1213, firstname.lastname@example.org; Paradigm Quest Inc,
+1-416-366-8606, email@example.com Web Site: http://www.solidifi.com