Homeloan Management has signed a three-year servicing contract with Close Brothers in the UK to service its intermediary channel business originated through its own subsidiary Mortgage Intelligence.
HML will process all the post completion administration from this channel following receipt of completed applications from MI.
Close has ambitious plans to grow its intermediary distribution channel through MI and HML will undertake its usual role in subsequent portfolio sales and securitisation transactions when appropriate.
Paul Fenn, development director at HML, says: Were delighted to welcome Close as a new client to HML.
This partnership demonstrates further HML’s expertise in this market which complements its existing service offering already firmly established in the UK mortgage market.
This is HMLs third contract of the year and 2006 is promising to be another excellent year for us; with other new contracts in the pipeline, were making good progress towards the ambitious growth targets we have set ourselves for the next couple of years.
We expect to welcome further blue-chip clients such as Close in the coming months.
Bob Golden, director of Close, adds: We are really pleased to be working with HML in this exciting new venture.
Service means everything to us and were very confident that HML will provide our clients with excellent service.