HML has been assigned a new Standard & Poor’s (S&P) Irish special servicing ranking at Above Average.
The mortgage administration firm also had all of its other rankings affirmed by S&P. This means HML remains with Above Average rankings as a primary and special residential loan servicer in the UK, as well as a primary residential loan servicer in Ireland.
S&P highlighted HML’s long track record of mortgage servicing in the UK and Ireland. HML has operated in the UK for more than 25 years and has been servicing the loan portfolios of Irish lenders since 2005.
In January 2012, HML became the first residential mortgage servicer to receive an internationally benchmarked ranking from S&P for the services it provides to Irish lenders.
S&P noted the “synergies” that HML would benefit from following its purchase by Computershare, which is subject to regulatory approval. Computershare is a global financial services company that has a proven track record of mortgage servicing in the US and an annual global turnover of approximately US$2 billion (£1.2 billion).
Other areas highlighted by the rating agency include HML’s analytic models and business intelligence, which “extensively support HML’s servicing activity”. It also noted that HML’s reporting guarantees the “substantial monitoring of internal operations and third-party vendors’ activity”.
Andrew Jones, chief executive officer at HML, said: “It is great news that HML has been assigned a new Irish special servicing ranking from S&P, as well as have our Above Average rankings affirmed.
“S&P highlighted our business intelligence and analytical models, and advanced analytics are at the heart of our arrears management and wider servicing strategies. This ensures the most appropriate outcomes for borrowers can be tailored to their unique circumstances and is a key part of our continued drive to be the market leader for quality.
“Our new parent Computershare, subject to regulatory approval, will allow us to take advantage of developing business opportunities and build upon our standing in the market as the UK and Ireland’s leading third-party mortgage administration company.”