Capital Home Loans (CHL) has gone live on the Phoebus servicing platform migrating its existing mortgage book of 57,000 accounts which is worth circa £4bn.
The migration took place on the weekend of 23 and 24 June, with teams from both CHL and Phoebus Software working collaboratively to achieve a smooth migration and a successful conclusion.
Integrations have been achieved with CHL’s card payment provider, general ledger, document management and data warehouse solutions providing a seamless operational solution.
Richard Pike, Phoebus Software Limited’s sales and marketing director, said: “This project is testimony to our two organisations working in partnership to deliver a very successful outcome.
“Once again, the pedigree of the Phoebus primary and special servicing functionality will assist another high profile client to achieve its major strategic objectives on a highly scalable platform.
“Obviously we are pleased to have been able to deliver yet another successful migration project. This is an area that is very high risk, but which we are recognised specialists in.
“Clearly after our recent announcement of hitting £40bn assets under management on Phoebus, this migration pushes us well on the way towards the major milestone of £50bn.”
Lee Kelly, chief executive at Capital Home Loans, added: “This project has gone exceptionally well and is testimony to the dedication and hard work of both teams.
“This project has been delivered ahead of time and under budget and provides a platform that will deliver our strategic objectives. We look forward to partnering with Phoebus on future projects.”
The new CHL solution comprises Phoebus’ primary and special servicing functionality, shortfall recovery and securitisation capability.