The latest portfolio is a book of £150million of non-performing residential loans, which Oakwood is servicing on behalf of a new client. The client, which cannot be named, is a well-known investor and adds to Oakwood’s track record for providing market leading loan servicing and asset management to institutional investors active in the UK’s loan portfolio trading sector.
This new portfolio represents the tenth mortgage book boarded by Oakwood since January 2010, and takes the Oakwood group’s total assets under management to circa £2.5billion, equating to 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.
“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.”
