TMS 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, and a unique customer experience to borrowers, clients and team members in their pursuit of happiness. TMS is a national lender and servicer licensed or exempt from licensing in all 50 states and the District of Columbia. For more information, please visit TheMoneySource.com.
Go on. Call your subservicer. Are they answering in 60 seconds or less? Or, did they leave you on hold for 10, 20, or even 45 minutes? If your wait time felt like forever, guess what? That’s the exact same type of infuriating situation that you’re putting your customers through.
If you ask what matters most when selling loans off, the knee jerk answer is “best price.” Sure, sharpen the pencil, squeeze an extra 2 bps, and look like a hero because you opened up your warehouse lines. Here’s the bad news: That’s old school and affects the long-term growth of your company.
Unfortunately, natural disasters and hurricanes will happen. It’s on you to make sure borrowers are in the best hands possible when it happens. To test the strength of your subservicer, go through this check list to see how well they’d be prepared for a future crisis.
According to research TMS conducted, two thirds of lenders reported working with their subservicer feels like pulling teeth when they request portfolio reports, 87% equated handing their portfolio to a subservicer to handing their firstborn over to a pack of wolves. 100% reported need for improvement in subservicing.
Each Vanguard excels in a wide range of skill sets but all share one common trait: the ability to lead, motivate and inspire their employees. Each of them are more than capable leaders that utilize their resources to solve problems, create solutions and drive innovation in their respective areas in the industry.
The next step to the advancement of digital mortgages lies with utilization of blockchain technology. This nascent technology will take all these measures and truly transform the industry from paper to digital, resulting in transparency, better data security and higher revenues from operational efficiencies.
Housing affordability is a crucial ingredient in any thriving community. And yet, in cities and towns across the country, there is a growing recognition that truly “sustainable communities” can be created only when multiple forces come into play. The cost of a home is only one of those factors.