Remediation services for 6,225 mortgages in arrears

Remediation services for 6,225 mortgages in arrears

17 June 2013

Equiniti helps a major bank to meet its mortgage remediation requirements

A major international bank sought a partner to help manage 6,225 mortgages that had fallen into arrears by more than two monthly instalments as a result of changes brought by the Consumer Credit Act (CCA) (2006).

The bank required an organisation that could bring the resource and expertise to the project to help it meet the rigid deadlines set by the CCA. Failure to comply would result in the bank incurring significant penalties.

Project outcomes

During the course of the project, Equiniti built up a level of knowledge to match that of the bank’s internal team, significantly reducing the client’s workloads in terms of volume and technical processing and consistently delivering an accurate output.