Capital Home Loans (CHL) has gone live on a mortgage servicing platform from Phoebus.

The implementation includes the migration of CHL’s existing mortgage book of 57,000 accounts, worth around £4 billion ($5.28 billion).

The migration took place on the weekend of 23rd and 24th June, with teams from both CHL and Phoebus Software Limited (PSL) “working collaboratively” to achieve a “smooth migration and a successful conclusion”.

The newly-implemented system comprises Phoebus’ primary and special servicing functionality, shortfall recovery and securitisation.

Integrations have been achieved with CHL’s card payment provider, general ledger, document management and data warehouse solutions.

“This project is testimony to our two organisations working in partnership to deliver a very successful outcome,” said Richard Pike, Phoebus sales and marketing director.
“Obviously we are pleased to have been able to deliver yet another successful migration project.”

The go-live means that Phoebus is some way towards managing £50 billion ($66 billion) via its systems.

Lee Kelly, CEO 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.”

by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: alexanderh@ibsintelligence.com
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