Phoebus celebrates GEMHL milestone

Phoebus Software is celebrating the 10th anniversary of their partnership with GE Money Home Lending (GEMHL) in May.

Currently in excess of £10 billion of GEMHL loans are under management on a Phoebus system.

Phoebus first began helping the servicing function on GEMHL’s mortgage book in March 2002.

In 2011 all of GEMHL’s loans came under management on a Phoebus platform. The latest migration, which occurred in August last year, involved migrating some 200,000 live accounts, representing more than £1 billion worth of assets and 800,000 archived accounts.

Paul Hunt, managing director of Phoebus Software, said: “We’ve had a very successful 10 years of working with GE Money Home Lending ensuring the efficient running of its servicing operations. GEMHL has invested wisely in its systems over the past years to ensure a high-quality servicing function in years to come.

“By taking a proactive approach to the development and implementation of modern systems in a changing regulatory environment, we’ve helped GEMHL ensure it is prepared for servicing challenges ahead, as well as allowing GEMHL to manage the cost of servicing its loan portfolios.

“Building on this success to date, we look forward to another decade of this positive strategic partnership.”