Appraisal Management Company Launches Solidifi DesktopIntel™

Solution Collaborates With Local Appraisers To Deliver CUSPAP Compliant Desktop Appraisal Reports In Two Hours Or Less

TORONTO, Nov. 21, 2011 /PRNewswire/ - 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 next generation 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 quality, speed and price.  Solidifi is located in Markham, Ontario and Chicago, Illinois.  Additional information about Solidifi is available at www.solidifi.com.

SOURCE Solidifi Inc.