National fintech and mortgage company TMS has sold its originations line of business to Atlanta-based AmeriSave Mortgage, a national fintech lender.
As part of the agreement, AmeriSave will welcome TMS employees associated with the business and assume its new Plano, Texas, and Chandler, Ariz., offices.
TMS will transition the originations business to AmeriSave in the first quarter. The expected originations volume is $1.5 billion in 2019.
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,” President Mike Berte said. “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.”
For TMS, the acquisition is a strategic move to focus on revolutionizing servicing with its customer service platform SIME and to take a vertical approach to its core businesses.
“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,” CEO Darius Mirshahzadeh said. “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.”