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Financial outsourcer HML has secured Arrow Global, a leading provider of debt purchase solutions, as a new client after the latter acquired a portfolio of loans currently being serviced by HML. Arrow Global purchased the assets from one of HML’s existing clients, and retained HML as the portfolio’s servicer. Andrew Jones, HML’s chief executive, said: “I’m delighted to welcome Arrow Global to HML as a client and I’m pleased the loans will remain with HML. “HML’s role as a servicer means we’re in a unique position to drive value for clients and buyers. We have access to the contacts to facilitate these deals and can reduce migration and on-boarding costs if we continue to service the portfolio, or migrate them onto our platform against a strict deadline if they are currently being serviced elsewhere.” Andrew Birkwood, Arrow Global’s chief investment officer, added: “This purchase represents entry into a new asset class (second liens) for Arrow Global, and given HML’s strong performance to date on this portfolio, it made sense for us to leave the accounts in situ....Read more here
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