Victoria, a specialist sub-prime mortgage provider, received its FSA regulation earlier this month and has now started to sell its products in the marketplace.
MSMS has been selected to service all Victoria mortgages from disbursement of funds through to redemption, including all securitisation, arrears management and whole loan book sales activity.
Kevin Hillgren, chief executive officer of Victoria, says: “A key deciding factor in our selection of MSMS was the desire to link with an organisation that is clearly dedicated to helping us build our franchise in the mortgage services sector.”
David Edwards, chief executive officer of MSMS, comments: “This is an exciting new opportunity for MSMS and further strengthens our position as a leading major UK mortgage outsource provider. Our undoubted flexibility and expertise, based on a combination of excellent customer service and advanced technology, will provide Victoria with the basis from which to achieve its future goals.”
Hillgren adds: “We see enormous potential for a sub-prime lender which takes a positive attitude in helping individual borrowers meet their housing needs. MSMS has impressed us both with its ability to offer select services to a start up lender in the market and through its partnership approach to our business relationship.”
