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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.
Sam Makhoul, MSA CEO, said the alliance would allow MSA to focus all of its resources on back-office processing.
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“This will translate to industry best practice for turnaround times and service delivery; and ultimately cheaper pricing for lenders seeking to outsource,” he said.
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