The new service expects to be substantially more efficient and cost beneficent than traditional in house agency businesses. HPAS is able to offer this value creating solution because unlike traditional providers it can pass on economies of scale to its clients.
HPAS offers a completely independent and cost efficient alternative to any lender who needs agency services across all European jurisdictions.
HPAS will draw on its pool of in-depth local knowledge as part of the largest commercial and multifamily mortgage Servicer outside the USA to provide a consistent approach across Europe.
HPAS, based in Canary Wharf, will cover all European territories and be headed up by HPI Directors. HPAS’ product offering will include the ability to fulfil roles such as that of the Security Agent, the Facility Agent as well as holding security documents.
HPAS is already in discussion with a number of other third parties who have expressed an interest in the unique service.
Clarence Dixon, Managing Director, comments:
“We anticipate both improving agency services for lenders across Europe as well as doing so more cost effectively than equivalent services being offered by in house providers.
"Our unparalleled experience in Primary and Special Servicing shows detailed local knowledge at the micro level is essential, but that you also need a consistency of approach across jurisdictions at the macro level to improve performance and provide a beneficial service.”
