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|Acenden Boarded a Large Portfolio of UK Residential Loans|
|Tuesday, 10 November 2015|
In early November, Acenden boarded a large portfolio of 23,500 UK first lien residential mortgage loans with a total notional of £2.3 billion. This pool of first charge loans has been acquired by Kensington from GE in August this year and has been migrated to Acenden in less than three months.
This new portfolio of loans represents an increase in total serviced loans under Acenden management by over 30% and is the fifth mortgage book boarded by Acenden in the last 14 months having successfully migrated three Irish portfolios in September 2014, April & May 2015 and one UK portfolio of second charge loans in August this year. This new portfolio of loans takes our total assets under management to £7.8 billion.
Alex Maddox, Business Origination Director at Acenden said “In addition to the impressive growth of Acenden in the UK third party servicing industry, the migration of this new portfolio of loans for Kensington also demonstrates the significant opportunity to grow the combined platform”.
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