Phoebus completes swift integration onto Capital Home Loans system
UK-based Capital Home Loans (CHL) has completed the implementation of the Phoebus servicing platform, which includes the migration of CHL’s existing mortgage book of 57,000 accounts, worth circa £4 billion.
As reported last year, CHL signed a five-year deal with Phoebus for its mortgage servicing solution to move from Computershare Loan Services’ Unisys platform.
The process took place on the weekend of 23-24 June, with teams from both CHL and Phoebus working together.
Lee Kelly, CEO at Capital Home Loans, comments, “This project has been delivered ahead of time and under budget and provides a platform that will deliver our strategic objectives”.
The new solution comprises Phoebus’ primary and special servicing functionality, shortfall recovery and securitisation capability, which will all be integrated with CHL’s current card payment provider, general ledger, document management and data warehouse solutions.
Phoebus’ sales and marketing director, Richard Pike, says: “This is an area that is very high risk. Clearly after our recent announcement of hitting £40 billion assets under management on Phoebus, this migration pushes us well on the way towards the major milestone of £50 billion.”
Phoebus has around 25 clients in the UK and over £28 billion in assets managed on its software.
