| A home lender is looking to beef up its servicing portfolio and is actively seeking the rights to service Ginnie Mae mortgages.
Mortgage servicing rights are being sought on loans contained in mortgage-backed securities guaranteed by the Government National Mortgage Association. Strategic MSR opportunities with prospective sellers should be in the neighborhood of $1 billion in Ginnie Mae residential loans. The Money Source Inc., also known as TMS, said in a media release Monday that it has already successfully completed two major MSR transactions. According to the Melville, New York-based organization, it wants to continue rapidly expanding its $30 billion servicing portfolio. The portfolio was previously reported at only $13.6 billion just a year ago. TMS noted that it is among “only a handful of eligible Ginnie Mae MSR buyers in the market.” Its growth is being made possible by its continued growth of its Servicing Intelligence Made Easy, or SIME, sub-servicing platform. The platform reportedly makes MSR transfers seamless and efficient. Current correspondent clients can receive special pricing for the MSRs, according to TMS. |
