Edeus has today confirmed it will temporarily withdraw from new lending and refocus its operations.
As a result of the action, around 50% of Edeus staff are to be made redundant and those affected have entered a 30-day consultation period. Edeus says it will re-engineer its operations to focus on providing asset quality assessment and special servicing. The firm says its technology will be deployed to help mortgage asset originators and holders to assess the level of risk in their mortgage books, which it claims is an expanding market. Commenting on the change, Michael Bolton, CEO of edeus, says: “The growing market for due diligence services and asset quality assessment is an area whe...
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