Finance

Keystone Property Finance migrates portfolio onto Phoebus

property finance

This follows Keystone’s success on the recent Hops Hill No.4 securitisation of £566 million, the biggest in the company’s history

Keystone Property Finance has migrated a second portfolio onto the Phoebus servicing platform.

The book of almost 2,000 accounts with a value of £296 million was migrated over a weekend with Keystone’s servicing team able to service the accounts immediately on their return to work.

The migration utilised Phoebus’ migrations API which allows the process to be as automated as possible, with key controls, checks and balances for “penny perfect” migrations, the company claims.

Keystone migrated this portfolio from its previous outsourced provider.

This follows Keystone’s success on the recent Hops Hill No.4 securitisation of £566 million, the biggest in the company’s history. These mortgages are also now hosted on Phoebus’ servicing platform.

Adam Oldfield, Phoebus’ chief revenue officer, noted: We have worked with Keystone for a number of years now, and we have a very good way of working together. To assist them in successfully delivering two such high profile projects in short order proves the effectiveness of our working relationship, which is something we strive for across all of our client relationships.

Keystone is one of many clients that utilise our migrations expertise and technology. We continually achieve migrations in record time under a robust system that we are very proud to say has never failed, he said.

David Whittaker, Chief Executive Officer at Keystone, said: Phoebus has been on the ball since day one. They knew our longer-term strategic objectives and have been there every step of the way for us. The challenges have been fully alleviated through working with a servicing software partner that actually knows what they are doing.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of Invest for Property. The information provided on Invest for Property is intended for informational purposes only. Invest for Property is not liable for any financial losses incurred. Conduct your own research by contacting financial experts before making any investment decisions.

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