HML has secured Arrow Global, a provider of debt purchase solutions, as a new client after the latter acquired a portfolio of loans currently being serviced by HML.
Arrow Global bought the assets from one of HML’s existing clients, and retained HML as the portfolio’s servicer.
“HML’s role as a servicer means we’re in a unique position to drive value for clients and buyers,” said Andrew Jones, HML’s chief executive. “We have access to the contacts to facilitate these deals and can reduce migration and on-boarding costs if we continue to service the portfolio, or migrate them onto our platform against a strict deadline if they are currently being serviced elsewhere.”
Andrew Birkwood, Arrow Global’s chief investment officer, added: “This purchase represents entry into a new asset class (second liens) for Arrow Global, and given HML’s strong performance to date on this portfolio, it made sense for us to leave the accounts in situ.
“We are committed to honouring in situ arrangements with existing servicers as part of the acquisition process, as it ensures continuity for all parties, particularly the customer. This is something we do frequently, often at the request of the creditor, while our broad agency network means we are well placed to facilitate such requests and ensure a smooth transition of ownership.
“We are pleased to add HML to our panel, and expect this to represent the first of many opportunities in the same or similar sectors.”