Loan & mortgage servicing

Ready to go

Choosing to outsource your lending operation with Target gives you ready access to an established, expertly designed, and proven infrastructure. Our implementation methodology enables rapid and accurate transition of loan portfolios to operational readiness, with minimal risk, providing stability of servicing for your customers.

Whether you are an owner of a distressed loan portfolio, a new lender wanting to start originating loans quickly, or an established lender eager to launch new products, engaging Target will mean typical set-up costs and timescales are significantly reduced.

We have achieved unprecedented speed to market for clients. Target's track record demonstrates our success in providing major financial services clients with a quick, low risk transition from where they are now, to where they want to be.

Gain the insight to innovate

Engaging Target as your outsourcing partner will give you fresh insight into current strategies and the flexibility to innovate. We are focused on helping our clients gain competitive advantage, arming you with the information you need to define:

• Customer management strategies: we identify the most appropriate strategy for the management of your customer to maximise the return on your portfolio whilst ensuring customer satisfaction.
• Collections strategies: utilising the latest arrears strategies, including champion challenger techniques, we ensure our servicing team are maximising recoveries.
• Product strategies: our solutions enable you to closely monitor the performance of existing products, and easily configure and launch new products. Our test and learn facility enables you to pilot new products in operation, compare their performance, and refine them prior to deployment.

Target's outsourced loan servicing operation holds a Standard & Poor's "Average" ranking as a primary residential mortgage servicer and a primary consumer finance servicer in the UK. We are the only loan outsourcing company in the UK with an S&P ranking for primary consumer finance.

S&P identified our strengths as to reflect the following:

• a well established operating system widely in use through the financial services industry in the UK
• a robust management structure with a good cross section of experience
• good internal controls and management information systems
• strong parental support
• effective fully documented processes for core and support activities with clear ownership and version control
• a motivated and experienced workforce with low attrition

S&P has noted that Target's ranking is constrained by its relatively short track record. Read the full Standard & Poor's Report.

Putting you in control

Our operation has been designed to give you complete control. Servicing clients receive comprehensive, easily accessible and accurate MI that enables performance monitoring of your portfolio and operations.

Control portfolio performance: Our consultants provide specialist financial accounting and expert portfolio analysis to help value your loan book and enable you to extract maximum value from your portfolio, or make it fit to securitise or sell. We ensure the performance of your portfolio is reported accurately and objectively. Our aim is to provide you with full transparency so that in turn you can provide complete security to investors and regulators.

Control operations: Outsourcing with Target removes the hassle of managing your own infrastructure and gives you a single point of contact for operational management. Our intention is to put you totally in control of your operations - your service definition will clearly set out service levels and regular client account meetings will keep you fully informed. All operational activity it monitored, and recorded, in a detailed audit history to provide you with total control.

Ensuring a compliant service

Target's dedicated Risk & Compliance team is focussed on ensuring compliance with industry legislation and regulations including FSA, Consumer Credit Act and information security standards.

Our experienced team closely monitors all new legislation and regulatory guidelines to manage the impact on our servicing operation and our clients. We ensure risks to customer service and client reputation are promptly addressed. Clients benefit from regular operational risk management and compliance reviews.

Target operates a risk management culture where all managers are required to document risks and escalate to the appropriate level. High level risks are treated by Target's Risk Board and risks with the potential to impact clients are discussed at regular monthly service review meetings.