TMS, a national financial services and correspondent investor, is now an approved buyer of Ginnie Mae’s Co-Issue program, Pool Issued for Immediate Transfer (PIIT), adding to its range of product offerings for partners.
The approval allows TMS to buy pools at issuance, allowing partners to seamlessly sell whole loans, and serves as a continuation of the fintech company’s recent push to acquire and finance mortgage-servicing right transactions.
“With so few buyers of this program in the market, we’re excited to be able to roll out this co-issue buying program to our partners,” says Ali Vafai, president of TMS, in a release. “This new addition to TMS Correspondent further expands our subservicing portfolio as we keep growing our $28 billion portfolio.”
In September, TMS announced it successfully completed three major mortgage-servicing right transactions, with plans to buy more due to the continued growth of its subservicing platform, SIME, Servicing Intelligence Made Easy, and its ability to efficiently transfer rights.