February 2010
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your PSA checked
November 2009
National
Consumer Credit Reform Update
May 2009
BNY Mellon Australia Pty Ltd forms strategic alliance
with Mortgage Settlements Australia
SYDNEY, 13 May 2009 - BNY Mellon Australia Pty Ltd (BNY
Mellon), a wholly owned subsidiary of The Bank of New York Mellon and
provider of corporate trust services, has entered into a strategic alliance
with national law company Mortgage Settlements Australia Pty Limited
(Mortgage Settlements Australia), which will allow BNY Mellon to provide a
variety of mortgage related services to lenders, such as loan
documentation, settlements, discharges and arrears management.
John McGee, Managing Director of BNY Mellon, said: "Over the last 12
months we have continued to accelerate the growth of our corporate trust
business in Australia, most recently with the opening of a state-of-the-art
document custody, imaging and processing centre. Our alliance with Mortgage
Settlements Australia will allow us to offer a wide variety of mortgage
production, arrears management, discharge and settlement services that are
fully complementary to our document custody and trustee services for
residential and commercial lending. Mortgage Settlements Australia
impressive expertise and proven reputation made them an ideal partner for us."
Sam Makhoul, Chief Executive Officer, Mortgage
Settlements Australia, said "We provide mortgage processing services
on a national basis to a number of key lenders. Over the past decade we
have developed leading edge technology and innovative processes to give our
partners a competitive advantage. The alliance with BNY Mellon allows us to
focus all our resources on back-office processing. This will translate into
industry best practice for turnaround times and service delivery; and
ultimately cheaper pricing for lenders seeking to outsource."
With a local team of 80 corporate trust professionals, BNY Mellon is in a
unique position to provide a full range of document processing &
custody and trustee services as well as analytics, investor reporting and
servicer requirements. BNY Mellon's robust domestic business, coupled with
its global strength, represents a very strong service offering.
The Bank of New York Mellon has been conducting business in the Asia
Pacific region for over 50 years. The company has 16 offices in 12
countries in the region, including full-service branches in Shanghai,
Tokyo, Hong Kong, Singapore, Seoul, and Taipei, and employs around 4,000
employees in the region. Businesses represented in the Asia Pacific region
include asset servicing, asset management, issuer services and treasury
services.
The Bank of New York Mellon's corporate trust business services $11
trillion in outstanding debt from 56 locations around the world. It
services all major debt categories, including corporate and municipal debt,
mortgage-backed and asset-backed securities, collateralised debt
obligations, derivative securities and international debt offerings.
Corporate trust providers are appointed by corporations, municipal
governments and other entities issuing debt to perform a variety of duties,
including servicing and maintaining the debt issue, processing principal
and interest payments for investors, representing investors in defaults,
and providing value-added services for complex debt structures.
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Notes to editors
The Bank of New York Mellon Corporation is a global financial services
company focused on helping clients manage and service their financial
assets, operating in 34 countries and serving more than 100 markets. The
company is a leading provider of financial services for institutions,
corporations and high-net-worth individuals, providing superior asset
management and wealth management, asset servicing, issuer services,
clearing services and treasury services through a worldwide client-focused
team. It has $20.2 trillion in assets under custody and administration,
$928 billion in assets under management and services more than $11 trillion
in outstanding debt. Additional information is available at
www.bnymellon.com.
Mortgage Settlements Australia Pty Limited is a National Law Company with a
localised presence, providing mortgage documentation, arrears management, discharge and settlement services to a number of
national Lenders.
With customer-focused operations led by a Director in each state, Mortgage
Settlements Australia are committed to delivering
service levels which are consistent, high quality, certified and
transparent through our national approach to systems and procedures.
To further support these initiatives Mortgage Settlements Australia are
members of LIXI and an active contributor to the National Electronic Conveyancing System. ”
