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Exact launches intelligent mortgage servicing

Exact Mortgages has launched its online Intelligent Mortgage Servicing platform today.

The Exact platform uses predictive credit analysis to facilitate mortgage account administration and collection strategies. It says this will allow clients to access 100 per cent of the management information on the performance of their mortgage book at any time.

The new systems means that Exact can monitor the credit performance of existing customers to identify changes in behaviour and provide up to date risk assessment.

The firms says lenders need to be intelligent about how they approach arrears management or they will lose more money than is necessary – it says the underlying asset value no longer provides a buffer when things go wrong with the borrower’s ability to pay.

Exact Mortgages managing director Alan Cleary says: “In the past servicing has been seen as a dull, process driven series of cogs – send out a letter, send out another letter, send out a third letter. That attitude has to change – in the current economy, a badly managed mortgage book has the power to bring an organisation to its knees – we’ve already seen it happen.”

“The third party servicing sector is long overdue for a shake-out – people have got complacent in their attitudes to servicing, and there’s no place in this market for lenders who don’t treat their customers fairly.”

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