MELVILLE, N.Y./ JANUARY 09, 2019 (STL.News)
TMS, a national financial services and top correspondent investor, announced it is now an approved buyer of Ginnie Mae’s Co-Issue program, Pool Issued for Immediate Transfer (PIIT), rounding out the wide range of product offerings it offers its 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,” said TMS President Ali Vafai. “This new addition to TMS Correspondent further expands our subservicing portfolio as we keep growing our $28 billion portfolio.”
In September of last year, TMS announced it successfully completed three major mortgage-servicing right transactions, with plans to buy more due to the continued growth of its industry-leading subservicing platform SIME, Servicing Intelligence Made Easy, and its ability to efficiently transfer rights. The award-wining platform SIME takes subservicing to an entirely new level and, for the first time ever, offers real-time transparency into a portfolio, which helps reduce delinquent loans and gives borrowers and lenders unparalleled customer service.
“We’re committed offering the best options out there and constantly looking for more strategic opportunities to help make our partners even more competitive in today’s market,” said Vafai.
TMS (The Money Source Inc.) is a different kind of company that does business in a different kind of way. Founded in 1997, with a mission to Grow Happiness, TMS is a fast growing fintech company that provides products, technology, speed of service and a unique customer experience to borrowers, clients and team members in their pursuit of happiness. With more than 700 team members, TMS is a national lender and servicer licensed or exempt from licensing in all 50 states and the District of Columbia. For more information, visit TheMoneySource.com. NMLS# 6289.