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Foundation Home Loan parent gets upgraded

The Fitch report said: “[Paratus AMC offers a] good mixture of resolution methods, with a clear focus on individual borrower situation and affordability”.

Hans Geberbauer, chief executive of Paratus AMC and Foundation Home Loans, said: “We are delighted to have had our efforts in building an effective, customer centric servicing operation recognised.

“Since we took the servicing in-house in Q2 2011 and introduced our industry leading servicing software and incentivisation scheme, the arrears have reduced dramatically, and much faster than the industry average.

“As the Mortgage Market Index published by Fitch clearly shows, the RMAC securitisation shelf we manage has much lower arrears levels than most of its peers and the lowest cumulative loss rate of any non-conforming securitisation platform.

“More importantly, we have one of the lowest repossession rates, demonstrating our effectiveness in working with customers in a way that delivers the best achievable result for lender and borrower alike, and resorts to repossession only as a last resort.”

Paratus AMC manages a mortgage book of 27,000 loans valued at £2.8bn, most of which were securitised before 2008.


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