A complete makeover planned at The Money Source Inc. will be accompanied by substantial expansion of its staffing and mortgage servicing portfolio.
The Melville, New York-based mortgage banking firm revealed in an announcement Tuesday that it is re-branding as TMS.
A marketing campaign will be launched for its retail, wholesale and correspondent channels that will tap into the emotional aspects of home financing.
TMS noted that its wholesale lending subsidiary, Endeavor America Loan Services, will be folded into parent The Money Source Inc. and operate as TMS.
New technology platforms are being provided for its correspondent, servicing and wholesale clients. This will be accompanied by training and tools.
“TMS spent the last year building out its channels and rolling out the industry’s leading sub-servicing platform SIME — Servicing Intelligence Made Easy,” today’s statement said. “In addition, the company improved its policies, products and procedures and invested heavily in people, technology and training in order to amplify its unique corporate culture, service ethos to pave the way for future growth and position it for success in 2018 and beyond.”
TMS said it plans to expand its servicing portfolio by 50 percent this year. By 2022, the portfolio is expected to reach $200 billion.
In support of the expansion, TMS said it plans to hire 400 employees during 2018. That would take its total headcount to a thousand from the 600 people currently on its payroll.
“The industry has historically behaved like a faceless, emotionless category,” TMS Chief Executive Officer Darius Mirshahzadeh stated in the news release. “We believe these are people’s homes and dreams we are building and want to set the tone for the next 20 years.”
