Commercial mortgages news: CAS unveils new loan servicing platform

26 May 2011

Europe's largest independent commercial mortgage service company for third parties has announced it has selected Evolan as its loan servicing platform.

Capita Asset Services (CAS) decided in summer 2010 that its current platform had become inadequate and decided it needed a new one for its operations.

CAS chief executive Robbie Hughes described the Evolan product as "outstanding" and said the company behind it, Sopra Group, provided in-depth knowledge enabling its speedy implementation.

"We are already experiencing tangible benefits from using it," he explained.

The mortgage company plans to run all core business, from private labels to commercial large loans, on the platform.

CAS manages commercial real estate loans worth £35 billion on behalf of European banks and provides services such as loan administration and asset management to the security and banking sectors.

As part of Capita Group, it has had a solid first quarter to 2011 and is exploring investment opportunities in central government.