Exasoft was appointed to provide calculations for a mortgage prisoners rectification.
The rectification was based around calculating the loss using a lower interest rate for a set period of time.
Unlike previous rectifications, this rectification looked at the arrears position of the account, applying calculated deprivation of funds to any arrears and then looking to see if any arrears fees / legal fees were to be removed.
The mortgage book contained both open and closed accounts.
Client feedback: "the project team were collaborative and highly skilled in their field, they also went over and above to deliver on the project deadlines to support the Bank with the delivery of a mass scale remediation exercise"