The firm will begin to operate under the Acenden brand in Q4.
Amany Attia, CEO said: “Clients and customers will benefit from our significant investment in the company – we have a completely new servicing system, have upgraded our data management and reporting capability and improved our analytic tools. Furthermore, we have rebuilt and strengthened our balance sheet and improved our liquidity to ensure the financial strength of the company.”
Attia said the firm has added arrears resources to its services as the markets deteriorated and arrears and repossessions increased.
The firm opened a new office in Dublin in March and its management team includes Amany Attia as chief executive officer, Jeff Lundgren as chief finance officer, Martin Frazer as commercial director and Ken Burke as director of servicing.
Martin Frazer, commercial director said: “We have a lot to offer as a full service, integrated provider of primary, special servicing and related administrative services for all residential mortgages, but for specialist and higher risk mortgage loans in particular. We look forward to making an impact in the market.”