Lendco signs servicing contract with Phoebus Software

Lendco has signed a four-year servicing contract with Phoebus Software Limited.

The move will see the specialist lender onboard all new mortgage completions onto the latest Phoebus digital account servicing platform.

Lendco’s existing book of bridging, BTL and refurbishment loans will be migrated onto the Phoebus platform in Q1 2022, using the software company’s originations and migrations API to automate the onboarding of cases.

The Phoebus solution was delivered into user acceptance testing (UAT) within three months of Lendco signing off its requirements. 

The solution, which went live in December 2021, encompasses all Lendco’s primary and special servicing requirements, as well as facilitates all of the lender’s securitisation needs.

Ian Ferguson, operations director at Lendco, said: “Phoebus Software Limited is a strong brand and its technology is an exceptionally good fit for specialist lenders, such as ourselves, that wish to undertake servicing in-house. 

“The interaction with Phoebus from start to finish has been first class and it is a company that delivers to its commitments.  

“We look forward to working with it in partnership to achieve mutual success for both parties.”

Richard Pike, sales and marketing director at Phoebus Software Ltd, commented: “Lendco is an innovative lender which we are very pleased to bring into our client user group. 

“The speed and quality of the implementation is testimony to the investment we have made into our implementation methodologies and also our digital technology and automation. 

“This deal reinforces our position as a market-leading account servicing supplier in the UK and Ireland, and we very much look forward to working with Lendco for many years to come.”

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