Firm swoops for £150m residential loan book

Firm swoops for £150m residential loan book


A leading mortgage servicing firm has picked up a £150 million portfolio of mortgage loans this month as it continues to expand its asset management activities. 

Oakwood Global Finance LLP acquired the loan book, which consists of £150 million of non-performing residential loans, in order to service it on behalf of a new client.

The un-named investor’s involvement means that Oakwood has collected its tenth mortgage book since January 2010, taking the total value of assets managed by the London and Skipton-based firm to around £2.5 billion. 

Oakwood was established in 2003 and currently has possession of over 17,000 individual loan accounts, with product types under management including prime, prime self-cert, near prime, buy-to-let and complex buy-to let, sub-prime and sub-prime self cert. 

In February 2012, B&C reported that the servicers had established a full-time commercial finance team, headed by new hire Emily Hadley, in an effort to establish new opportunities in the Commercial Real Estate sector. 

Discussing the acquisition of the new portfolio, Oakwood partner Richard Klemmer said: “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.

“Our experienced and highly competent teams are trusted to manage the complex reporting and cash management requirements of acquired or originated mortgage portfolios on behalf of lenders and investors, in addition to the loan administration, arrears management and loss mitigation aspects of successful portfolio management.

“In addition, and increasingly importantly for clients, we have proven experience and capability to successfully migrate loan portfolios onto our proprietary servicing systems in what we believe is the most efficient and low risk process available in the UK today.”


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