Springboard Mortgages Ltd, the new specialist mortgage lender formed by Irish Life & Permanent and Merrill Lynch, has signed a three year servicing contract with HML.
HML, a provider of systems and process outsourcing solutions to the mortgage sector, will provide a full post offer administration service for specialist mortgages generated by Springboard via the intermediary market.
The deal is HML's second new contract of 2007. Springboard will focus exclusively on the specialist mortgage lending market, which is expected to be worth €4 billion within the next four-five years.
The specialist mortgage market caters for non-traditional borrowers. |
