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.
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.
The appraisal industry is in the midst of huge disruption as automated valuation models and hybrid appraisal products gain favor with regulators and investors. What does the future hold for appraisers and appraisal companies as they adjust to the new realities of automation?
As Millennials grapple with paying off student loans, their opportunity to buy a home gets pushed further and further into the future. That delay has consequences far beyond individual students — the growing student debt crisis impacts every part of the economy.
There has been a conscious and rapid shift to broaden the use of alternative valuation products for origination. Not every decision needs a $500, full-blown 1004 interior appraisal. And in some markets where appraisers are short in number, the turn times can stretch from days to weeks. What these new alternative — some would say disruptive — valuation products do is enable lenders and servicers to better match the product to the risk by harnessing big data and technology.