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Exact’s primary and special servicing set to pass the £1bn mark

Exact’s primary and special servicing is set to pass the £1bn threshold in the next few months – including both first and second charge mortgages across over 15,000 mortgage accounts.

Exact’s Mortgage Asset Reduction Strategies, which launched in 2008 to deliver principal forgiveness programmes on behalf of mortgage asset owners, has now been used by nine clients on mortgage books with a face value of £2.2bn across 23,000 mortgage accounts.

Meanwhile, its due diligence service which helps banks, building societies, mutual lenders and hedge funds identify the credit risk contained in mortgage books has since launch, assessed over £6.3bn of mortgages across 46,000 mortgage accounts in twenty four individual projects.

Ian Lonergan, CEO of Exact, says: “Exact has continued to attract new clients and grow its service offering substantially in 2012, and we anticipate further market disruption will make our products and services even more attractive to potential customers.”

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