Oakwood Global Finance has added a £150m portfolio of non-performing residential loans to its books which it is servicing on behalf of an unnamed client.
The new portfolio represents the tenth book taken on by the independent residential mortgage special servicers since January 2010 and takes the group’s total assets under management to £2.5bn over 17,000 individual accounts.
Oakwood partner Richard Klemmer says, “Boarding this pool has been part of a steady and strong growth period for Oakwood. Despite a difficult market, we have continued to win business thanks to our reputation for managing mortgage risk, particularly at the non-performing end of the market where we truly lead the way.
“We hold a unique position as the only Fitch rated Servicer in Europe with ratings in all three available classes: to be rated as Primary Servicer, Master Servicer and Special Servicer demonstrates the strength of our in-house capability to manage some of the most important factors affecting the performance of loan assets.”