Desjardins CU selects Solidifi for collateral valuation and risk review

Source: Solidifi

Solidifi, 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 is a web-based collateral management platform for arranging property valuations, combining the latest technology with the largest appraisal partnership across Canada. Solidifi Values 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 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 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."

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