TMS to Bring Blockchain to the Servicing Industry
March 1, 2019
TMS, a national financial services and mortgage company, is leading the charge in cutting-edge servicing technology with the provisional approval of three patents. Through the power of the company’s award-winning subservicing platform SIME, Servicing Intelligence Made Easy, the patents will introduce servicing data and records to the blockchain for the first time ever, creating a new level of security and shared data in the industry.
In May last year, TMS filed three patent applications with The United States Patent and Trademark Office over the use of blockchain for servicing. The patents capitalize on the advances of SIME and increase the platform’s infrastructure.
“This is a giant and exciting step forward for servicing technology,” said Ali Vafai, TMS President. “We’re proud to be pioneering these ground-breaking advancements that enhance how servicing data is being used across the country, tapping into the wealth of data that is out there to better benefit consumers and equip lenders.”