Mortgage provider Edeus changes tack

UK-based mortgage provider, Edeus, has shifted the focus of its business from lending to offering an asset quality assessment service that will allow investors to understand the risk in their mortgage-backed asset pools.

The firm, which was set up in 2006 by a group of 47 executives from HBOS (Halifax Bank of Scotland) to originate subprime mortgages, has decided to reinvent itself, instead offering technical expertise to the beleaguered market.

Alan Cleary, managing director of Edeus, says tradit

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