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Capstone rebrands as Acenden

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Capstone, the UK mortgage services division of Lehman Brothers, is today rebranding with a new name Acenden.

When the US investment giant went under in September 2008, its administrators initially put Capstone up for sale.

But after Capstone’s management put together a business plan the decision was made to keep it going as a separate company.

Previously it just serviced the sub-prime mortgage assets of Lehmans’ UK brands Southern Pacific Mortgage Limited and Preferred Mortgages, but with the rebrand today it’s now offering its services to other firms.

Amany Attia, CEO, says: “Acenden will be the most experienced new entrant the market will ever see.  We have taken the best of Capstone’s demonstrated capability in residential mortgage servicing and brought it to a new level

“We have been very busy in the last year focusing resources and energy to offer a market-leading proposition and we have a new and strengthened management team. Clients and customers will benefit from our significant investment in the company – we have a completely new servicing system, have upgraded our data management and reporting capability and improved our analytic tools.

“Furthermore, we have rebuilt and strengthened our balance sheet and improved our liquidity to ensure the financial strength of the company.”

It is expected that Capstone Mortgage Services will change its name to Acenden in Q4 2010.

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Readers' comments (2)

  • So CAPSTONE are changing its name to Acenden, wonder why? Capstone previous crooked brokers such as Loans.co.uk advisers or their security system was that slack that any Tom, Dick and Harry can get ALL Confidential information from their system. In mid June 2008 I found that my and my wife details were searched by Loans.Co.Uk, without our permission, though Capstone admitted that YES indeed our name was searched by Loans.co.uk but they could not help us THE VICTIMS. (They did not know who got our personal details from Experian). I approached them and gave them the clue that who have done it, but they were not interested in. We even approached Experian and Information Commissioner, you can imagine after spending hours and days trying to come to find out HOW these sorts of high profile companies can never control their security system. My advice. DEAL BUT BE VERY CAREFUL. I say to Amany Attia, CEO. GOOD LUCK
    We are, confused, helpless, distressed, puzzled and disillusioned citizen of United Kingdom sometime it feels we are living in Zimbabwe.

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  • They have to change their name. Capstone have such a bad reputation that no one would want to be associated with them. I speak from experience when i say that they are probably one of the most unprofessional outfits on the market. I hope the FSA gets some teeth and puts a stop to some of their woeful practices.

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