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Mortgage Settlements Australia (MSA) has announced a strategic new alliance with BNY Mellon Australia – a subsidiary of The Bank of New York Mellon – which it says will offer industry members a stronger settlements process.
Under the arrangement BNY Mellon will provide a variety of mortgage related services to lenders such as loan documentation, settlements, discharges and arrears management.
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Sam Makhoul, MSA CEO, said the alliance would allow MSA to focus all of its resources on back-office processing.
“This will translate to industry best practice for turnaround times and service delivery; and ultimately cheaper pricing for lenders seeking to outsource,” he said.
