TMS Strikes Deal To Sell Its Originations To AmeriSave

TMS focuses on being the world’s best servicer and top correspondent investor. AmeriSave turbocharges its originations business.

 

Melville, NY (January 7, 2019) — TMS, a national fintech and mortgage company, announced it has sold its originations line of business to Atlanta-based AmeriSave Mortgage Corporation, a national fintech lender. The expected originations volume is $1.5 billion in 2019. As part of the terms of the agreement, AmeriSave will welcome TMS employees associated with the business, and assume its new Plano, Texas and Chandler, Arizona offices.

 

“This is a perfect fit. AmeriSave brings years of delivering a truly exceptional, tech-forward experience to homeowners during originations as we do at TMS in servicing customers for the life of the loan,” said CEO Darius Mirshahzadeh. “We feel good knowing that they will take great care of our customers and our people while we double down on being the world’s best servicer.”

 

The acquisition for TMS is a strategic move to focus on revolutionizing Servicing with its award-winning customer service platform SIME – Servicing intelligence Made easy, and take a vertical approach to its core businesses. TMS, an award-winning Subservicer and Top 15 Correspondent Investor.

 

For AmeriSave, the acquisition marks the company’s efforts to scale its loan originations business.

 

“We are excited to welcome the TMS originations team and business to AmeriSave,” said President Mike Berte. “While we had a strong 2018, this acquisition kickstarts 2019, allowing us to expand our market share, add talented mortgage professionals in two terrific markets, and help more people realize the dream of homeownership.”

 

AmeriSave is known as a pioneer of digital origination. For the last ten years, the company has invested heavily in its proprietary technology creating a highly automated loan originations system that removes the friction that customers typically experience while obtaining a mortgage.  Many AmeriSave customers choose to “self-serve” all or most of their loan transactions with this intuitive software that drives speed and significantly lowers the cost to produce a loan.  In turn, AmeriSave passes this savings along to thousands of customers each month.  Recently, the company has embarked on significant expansion plans that include attracting top talent and considering other acquisitions.

 

For TMS, the shift away from originations provides TMS subservicing and correspondent clients more partner programs and technology that will advance its already state-of-the-art customer service offering, maximizing clients’ portfolio retention and amplifying customer lifetime value. Beyond SIME, TMS has patents pending for artificial intelligence, block chain and has new versions of its one-of-a-kind servicing app scheduled for 2019. The company also plans to expand its client partner programs with custom apps, websites, as well as marketing and compliance consultative services.

 

“We are widely recognized as having the most advanced subservicing technology platform in the business,” said Mirshahzadeh. “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.”

 

TMS will transition the originations business to AmeriSave in first quarter 2019.

 

About TMS 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. 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.

 

About AmeriSave Founded in 2002, AmeriSave Mortgage Corporation is a leading fintech company best known for pioneering the first truly digital mortgage experience to borrowers. AmeriSave provides modern automation that drives speed and lowers cost to produce which enables AmeriSave to pass savings on to thousands of customers each month.  With six locations across America, AmeriSave is a national licensed consumer direct lender in 49 states, TPO and Retail . FNMA, FHLMC, GNMA approved. For more information, visit amerisave.com . NMLS ID #1168