HML has warned lenders and mortgage asset owners to exercise extreme caution when outsourcing their mortgage administration and arrears management, arguing inexperienced providers are operating in the marketplace
HML is the largest provider of outsourced mortgage administration in the UK mortgage market and works for over 30 lenders, which currently around £46 billion of mortgages under management.
Brian Brodie, chief executive officer at HML, said that such firms should be able to demonstrate they are financially sound and possess the capability and flexibility to meet the demands of the current uncertain economic environment.
He added: “There are certain fundamental regulatory considerations for firms who are considering outsourcing