The name ‘edeus’ is a combination of ‘e’, for its online systems, and ‘deus’, which is Latin for ‘creator’. The new lender is to go under the strap line ‘mortgage creators.’
Michael Bolton, chief executive officer at edeus, said: “We are most definitely back. We want to carry on where we left off. We will embrace technology, not to keep costs down, but to make your job as the intermediary as easy as possible. The new system is looking good and point-of-sale decisioning will become passé. Technology has a lot more to give.”
He added: “We will continue to support the good packagers in the market. There aren’t that many, but we will support the good ones out there.”
John Malone, managing director of Premier Mortgage Services, welcomed the lender and its team into the market. “It’s good to have them back,” he said.
Rob Clifford, managing director at Mortgageforce, admitted he would be interested in what the lender would offer. He said: “I think market share is won and lost in the non-conforming market, with much based on relationship management. Coming to market with good rates and incentives is not enough and what Mike Culhane and Michael Bolton have done with the new lender is to create a team of individuals very well known within the mortgage market that will develop partnerships. In this respect it could steal a lead on other lenders set to enter the market this year.”
He added: “Bolton has made a lot of noise about the lenders technological capabilities so mortgage intermediaries and the market in general will be waiting to see what it offers as part of its online systems.”
