AmeriSave will take over the retail mortgage lending operations from TMS, sources close to the deal tell HousingWire.
The strategic decision revolves primarily around TMS publicly stating that mortgage servicing is in dire need of improved customer service. In other words, TMS wants to focus more of its efforts on providing a better mortgage servicing experience to borrowers.
Therefore, AmeriSave will transition the mortgage lending divisions of TMS, based in Plano, Texas, and Chandler, Arizona, over to its brand in the near future.
TMS said that it expected the mortgage originations business to reach $1.5 billion in 2019.
Last year, Amerisave Mortgage Corporation did almost $2.3 billion in mortgage lending volume, with $1.6 billion of that in refinancings, according to additional HMDA data provided by iEmergent.
TMS said beyond its core customer service program, SIME – Servicing Intelligence Made Easy, its focus will also include additional fintech offerings coming soon.
“TMS has patents pending for artificial intelligence, blockchain and has new versions of its one-of-a-kind servicing app scheduled for 2019,” the company said in a statement. “The company also plans to expand its client partner programs with custom apps, websites, as well as marketing and compliance consultative services.”
According to a statement provided to HousingWire, TMS CEO Darius Mirshahzadeh said the company is widely recognized as having the most advanced subservicing technology platform in the business.
“Transitioning originations to a pro like AmeriSave makes perfect business sense. Now, we can champion our clients’ success and deliver what the industry so desperately needs – a world-class customer servicing platform and stellar loan performance – that we at TMS are so uniquely positioned to deliver,” Mirshahzadeh said.