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Mortgage deal is extended

Vertex has extended its servicing contract with Livingstone Mortgages.

The mortgage platform owned by international investment bank Dresdner Kleinwort has been under contract with Vertex since 2006.

Vertex is developing an outsourcing solution based on its Optimus Servicing system.

It supports mortgage servicing and special servicing and handles all customer communications, including balance enquiries and arrears’ handling, from point of completion to redemption.

Vertex managing director for mortgages and banking David Edwards says: “In the harsh climate for many companies, we are delighted to have been awarded this significant contract extension.”

Vertex has cut 30 staff from its DB Mortgages account due to lower business.

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