Foundation Home Loans signs up for EDM MSS’ BTL Portfolio Assessment Solution

7 Aug 2017

Foundation Home Loans signs up for EDM MSS‘ BTL Portfolio Assessment Solution

7th August 2017

London, 7th August 2017Foundation Home Loans has become the latest lender to implement EDM Mortgage Support Services (EDM MSS) technology solution ahead of the Prudential Regulation Authority’s SS 13/16 buy to let (BTL) landlord underwriting standard due to take effect in September.

The online solution from EDM MSS allows brokers to easily upload portfolio property details directly into the platform. The details will then be validated via the EDM MSS’ PRISM platform and allow for the results to be sent to Foundation Home Loan’s dedicated team of portfolio underwriters for assessment, significantly simplifying and speeding up the underwriting process.

PRISM – which stands for Portal for Risk Information Sharing in Mortgages – is a state-of-the-art EDM-hosted digital hub which brings manual processes online, enabling lenders to access third party data and make business decisions around the suitability of properties immediately.

Back in June it was announced that Nationwide Building Society was to implement the technology solution too through its subsidiary The Mortgage Works, which offers a range specialist buy-to-let products through professional mortgage intermediaries.

Jeff Knight, Director of Marketing – Foundation Home Loans, said “As a specialist lender, we have chosen to work with EDM because we believe their system is very broker-centric and easy to use and has real strategic fit with our online portal.” 

Joe Pepper, Managing Director – EDM Mortgage Support Services, commented: “How lenders adapt to the relentless evolution of the regulatory regime can be a critical factor helping their ability to remain cohesive and agile enough to meet the changing needs of today’s borrowers. By implementing secure, hosted platforms such as PRISM to deal with new challenges, lenders will be better placed to preserve and expand their market shares.

“In relation to the new PRA requirements, EDM’s PRISM can handle the evaluation process, providing the application data has been fed directly in, eliminating a significant amount of the manual data processing task away and allowing underwriters to focus on their lending decisions.  Furthermore, this technology can be installed quickly and easily as a standalone solution for BTL lenders without changing existing mortgage platforms.”

SS 13/16 stipulates the PRA’s minimum expectations that firms should meet in underwriting buy-to-let mortgages and these include several requirements around affordability assessments, taking into account a borrower’s costs including tax liabilities, verified personal income (where used by the lender) and possible future interest rate increases.


About EDM Group: Headquartered in London, EDM Group employs over 1,400 people across the UK and US. For the financial year 2014/2015, the firm reported an annual turnover of £70+ million. In September 2015, EDM Group was ranked 43rd in the annual Sunday Times Hiscox Tech Track 100 league table, up from 57th in 2014 – a reflection of the fast-growth success of the firm and its position as a leading, global information management and digital transformation specialist.  In June 2016 EDM Group was ranked number 1 in the annual Sunday Times HSBC International Track 200.


EDM Group combines best-practice consulting and technical experience to develop bespoke outsourced solutions for a range of clients across the private and public sectors. The success of the firm has been built on its powerful Digital Mailroom document scanning and storage capability, which continues to be a core, in-demand product offering. EDM Group’s growing client base spans sectors including financial services, automotive, professional services, private healthcare, utilities, charities, and the public sector (central and local government, and NHS). Specific clients include HMRC, Legal & General, Friends Life, Bupa, Avis Budget EMEA Ltd, Nationwide Building Society, Barclays, Santander, Companies House, Lloyds Banking Group, Grant Thornton and healthcare providers including NHS Trusts and BMI hospitals.

EDM Group is accredited to ISO standards for Information Management Systems (ISO27001), Environmental Management (ISO14001) and Quality Management (ISO9001).

About EDM Mortgage Support Services: EDM MSS offers a range of products to help clients manage the various stages of the mortgage process.  It enables lenders to exchange data with third parties such as surveyors, solicitors, estate agents and asset managers securely and cost effectively. The platforms, including Residential and Commercial Valuation Exchanges and LPA Exchange support key transactions within mortgage lending such as valuation and asset management instructions. EDM MSS’ customers include Nationwide, Virgin Money, Santander, Bank of Ireland, Barclays and Lloyds Banking Group.

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