TMS (The Money Source Inc.) reports that it recently completed two “major” mortgage-servicing rights (MSR) acquisitions.
No details were provided.
The fintech reports that it plans to purchase more MSRs, as it continues to rapidly grow its $30 billion portfolio.
The activity is due to the continued growth of TMS’ subservicing platform, Servicing Intelligence Made Easy (SIME), and its ability to seamlessly and efficiently transfer rights, the company says in a release.
With only a handful of eligible Ginnie Mae MSR buyers in the market, TMS is actively searching for strategic MSR opportunities that are around the $1 billion mark.
TMS also offers special pricing to companies that are already correspondent sellers or which have recently started a subservicing relationship with TMS.
“Our decision to now buy and finance MSR transactions is the perfect next step for TMS as we take SIME to a whole new level,” says Ali Vafai, president of TMS.
SIME offers real-time transparency into a portfolio, which helps reduce delinquent loans and gives borrowers and lenders top-notch customer service, the company claims.
“Sellers no longer have to be afraid of their borrowers getting lost or upset in the selling process,” Vafai says. “With SIME, we can manage the asset better than anyone else and ensure a smooth transition.”
In July it was announced that mortgage hedge advisory and secondary marketing software firm Mortgage Capital Trading (MCT) had named TMS as a preferred technology partner.
As a result, MCT is now offering SIME to its client list.
