Capital Home Loans (CHL) and Phoebus Software Limited (PSL) have agreed a five year contract for the implementation of the Phoebus loan servicing solution at CHL’s offices in Fleet, Hampshire.

The deal, involving an initial migration of circa £4.2bn of mortgage assets from Computershare Loan Services’ UNISYS platform. This will provide many operational efficiencies, utilising the Phoebus workflow to automate many previously manual tasks, whilst streamlining others to ensure focus can be placed fully on providing a first-class customer service. The solution will utilise the full extent of the Phoebus primary and special servicing functionality and also the integrated Phoebus finance and securitisation modules.

Richard Pike, PSL’s sales and marketing director, says “CHL is a very successful business with strong aspirations for future growth. The engagement between our businesses has been excellent during the requirements gathering stage and this will lead to a very successful implementation in 2018 of a servicing solution that will drive the efficiencies expected from what is generally seen today to be the market’s leading loan servicing platform. We very much look forward to working with CHL for many years to come.”

Lee Kelly, CEO at CHL says, “PSL’s reputation is excellent and the Phoebus servicing module is recognised for providing operational efficiencies. Certainly, the engagement to date indicates this will be the case moving forward and we look forward to a strong and lengthy relationship with PSL.”