Solidifi Announces Advisory Board Appointments

    Solidifi appoints Michael Johnston as Advisory Board Chairman

    CHICAGO, June 3 /CNW/ -- 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 Values(TM) 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 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
    "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
    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
    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, visit

    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

For further information:

For further information: Mike Kraemer of Solidifi Inc., +1-312-268-5679,
 Fax: +1-312-268-5801, Web Site:

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