HML launches asset trading service

Specialist mortgage servicing group HML has introduced an asset-trading service for investors and banks seeking to acquire, manage or sell mortgage portfolios.

HML, which employs more than 400 people in Derry and Dublin and manages loans with a value of €50 billion for a range of banks, said the service would “assist with the entire process of asset trading”, from sourcing mortgage assets and analysing risks to “servicing customers effectively and in line with changing regulation”.

HML was last month sold by Skipton Building Society to the financial services multinational Computershare for an initial £47.5 million (€59.5 million), with potential additional payments based on revenue growth in 2015 and 2016. The deal is subject to regulatory approval.

Earlier this year HML, which services almost 60 per cent of the residential mortgage market in the UK and Ireland, was appointed to manage a portfolio of Irish residential home loans with a face value of €750 million that was once owned by Bank of Scotland (Ireland).