Management Text

In order to facilitate the Corporation’s investments in the mortgage lending industry the Corporation has entered into a Management Services Agreement (the “Management Agreement”) with The Solidity Group Management Corporation (“the Manager”). The Manager is a corporation incorporated under the laws of the Province of Ontario. The Manager is licensed as a Mortgage Administrator through the Financial Services Commission of Ontario (“FSCO”). The Manager’s key personnel have been in the business of originating, underwriting, and submitting mortgage approvals to various lenders since 1979.

The Manager’s personnel have extensive experience in mortgage lending and collections and also have wide networks of established relationships with many lenders, experienced owners, builders, developers and others active in the real estate industry. The current business of the President of the Manager is a mortgage brokerage business, assisting clients in the London and surrounding area in obtaining their mortgage approvals. The brokerage has provided assistance in excess of $40,000,000 in private mortgaging for fiscal 2011 and over $300,000,000 in total for all mortgages funded in 2011. The Corporation believes the Manager is therefore suitably qualified to allocate and recommend investment opportunities for the Corporation.

The Manager has more than 40 years of combined experience, either itself or through its personnel, in the banking, mortgage and finance industry. The principal occupation of the President of the Corporation over the past 25 years and his experience relevant to the Corporation’s business are as follows:

William Handsaeme,President and Director
The Solidity Group Mortgage Investment Corporation
and Solidity Group Management Corporation
Mr. Handsaeme is the President of Forest City Funding Inc., O/A Dominion Lending Centre, since August of 1988. His brokerage has grown to over 160 agents who provide mortgage services to thousands of clients annually. The company continues to remain in the top 3 franchises in Canada and funded in excess of $900 Million in mortgage volumes for 2018. The company will fund in excess of $1.250 Billion in 2019. Mr. Handsaeme was also in senior management position with the Bank of Montreal in the years prior to becoming a Mortgage Broker.

Credit comMittee

William Handsaeme,President and Director
The Solidity Group Mortgage Investment Corporation
and Solidity Group Management Corporation
Mr. Handsaeme is the President of Forest City Funding Inc., O/A Dominion Lending Centre, since August of 1988. His brokerage has grown to over 160 agents who provide mortgage services to thousands of clients annually. The company continues to remain in the top 3 franchises in Canada and funded in excess of $900 Million in mortgage volumes for 2018. The company will fund in excess of $1.250 Billion in 2019. Mr. Handsaeme was also in senior management position with the Bank of Montreal in the years prior to becoming a Mortgage Broker.
Derek H. Anderson
Mr. Anderson is President of The Graystone Group, a London based company involved in the planning, development, construction, and sales of both adult-lifestyle communities and upscale custom homes. Graystone’s projects have been primarily in the London area, although Derek has been involved in various projects throughout Ontario in his 30 plus year career in the construction industry.He served as President of the London Homebuilders Association for 2006 – 2007 where he was involved with several other industry professionals throughout the country. He recently stepped off the Board of Directors where he served for 13 years.Derek’s experience in the construction industry covers all sectors of the market as he started his career as an engineering graduate with Ellis-Don Construction involved in shopping malls, sewage/water treatment plants, hospitals, schools, etc. It was in the early 1990’s that Derek oversaw a number of highrise apartment projects, which also involved several multi-unit low-rise residential projects, and eventually working his way into the upscale condominium and single-family custom home market.
Scott G. Furlonger,Chartered Accountant
Mr. Furlonger is President of Padgett Business Services – London, an accounting firm providing payroll, accounting, tax and advisory services to small businesses. Mr. Furlonger received his Chartered Accountant designation in 1984 and has held a variety of senior management positions in companies including Scott’s Hospitality Inc., Avco Financial Services, Canada Limited, The Associates, and CitiFinancial. During his 17 years in the financial services industry, Scott served as Vice President – Audit, Vice President – Controller and Vice President of Business & Client Support at Avco. The company was later purchased by The Associates and then by CitiFinancial, where Scott continued in the role of Vice President of Business Client Support until leaving the company in 2004. In each of these roles, Scott had an active involvement in the development and review of the company’s underwriting practices and a broad exposure to both retail and consumer credit across Canada. Scott has been an active volunteer in the community with volunteer roles with Youth Opportunities Unlimited, the United Way and as the Treasurer of the Boys & Girls Club of London – Foundation.
Dr. Cliff Hardick,
Dr. Cliff Hardick has been a practicing professional in London, Ontario for over forty years. He has participated in the mortgage lending business for nearly five decades. With this hands-on experience comes a thorough comprehension of mortgage lending risk and a crucial understanding of the lending business as a whole. Dr. Hardick’s extensive knowledge and sense of clear thinking makes him an invaluable member of the credit committee.