Ward will be business development manager alongside Collingridge in London, with partners
Jaap van Raak and Michel van der Sluis of The Dutch Mortgage Consultants BV working in Utrecht in the Netherlands.
Based in Utrecht in Holland and London, Fortrum will provide due diligence, risk analytics, specialised underwriting, surveillance and workforce solutions for financial assets across the whole of Europe.
The Dutch market continues to offer opportunity said Ward, sharing many similarities with the UK, except that the Dutch government is committed to driving house building and average loan to values tend to be far higher there than here.
Founder and current CEO of home Funding, Tony Ward, said: “Global investors are increasingly focusing on the dynamic and growing Dutch mortgage market and European securitisation markets show further signs of re-emergence. With continuing pressure from regulators, governments and markets on banks across Europe to address the scale of non-performing loan exposures, and as the requirements of IFRS9 loom ever larger there is a clear opportunity for a new type of player in the due diligence and risk arena. The Netherlands is an ideal location for our new venture.”
“Fortrum is our solution and we are delighted to join Jaap and Michel in this venture,” said Collingridge. “Our collective experience and expertise in UK and Dutch markets, securitisation and risk analysis are unparalleled in this field.”
Jaap van Raak from TDMC who will become the managing director of the new company, said: “In a post-Brexit world, the Netherlands is a key country for investors and is an exciting place in which to base our joint venture.”