Loan boarding, or the process by which a portfolio of loan and account data is transferred from one management system to another, is a critical concern when considering outsourcing to a third party. Acenden has significant experience boarding from third party servicers/lenders, transferring over 11,700 loans, more than any other third party servicer. In addition, we have implemented a full loan transfer of over 44,000 loans from a legacy mortgage system we used, to our current platform. Over recent years, Acenden has also:
- Boarded more than 11,000 loans from an established UK lender
- Boarded several thousand new second lien loans from a UK bank
- Supported two ‘Emergency Boarding’ processings that required quick migration due to a lender with concerns about deteriorating performance
Our experience has taught us that a strong project team, detailed planning, adaptable and scalable systems and a flexible, problem solving approach are all critical to successful transfers. Before, during and after a loan boarding our nominated Project Manager will work closely with the client and our own specialist analysts to ensure that understanding of the requirements, governance and operational loan migration is conducted with professionalism, attention to detail and to time.