Total Mortgage Services Launches Wholesale Lending Platform In 17 States
Expansion plans in place to originate loans in 35 states by the end of 2010
MILFORD, CONNECTICUT - (July 14, 2010), Total Mortgage Services, LLC, a leading mortgage lender and broker, announced today that it has formally launched its wholesale residential mortgage lending platform, TMS Funding, in 17 states across the United States. TMS Funding, which will compliment Total Mortgage’s successful retail lending platform, will offer mortgage brokers greater choice, service, efficiency and some of the lowest mortgage rates available.
“There is a significant opportunity and need in the wholesale channel today for quality lenders. Many lenders have exited the wholesale business and the remaining participants seem to have lost touch with the needs of the broker community,” commented John Walsh, President of Total Mortgage. “Through our centralized model, TMS Funding will enhance efficiencies and provide best-in-class service at very competitive rates. Our goal is to become an important resource for the mortgage broker community to help them quickly meet the needs of their clients.”
Jim Lynch, Executive Vice President of Wholesale Lending, is heading up the management of TMS Funding. Mr. Lynch is responsible for attracting and building sustainable relationships with high-quality mortgage brokers in order to increase production volumes and build market share. Mr. Lynch has over 20 years of wholesale lending experience and has overseen wholesale lending channels on the east coast for American Mortgage Network (AmNet), Wachovia, and SCME Mortgage Bankers. Earlier in his career, Mr. Lynch was a high-performing account executive at Chase for nearly a decade.
TMS Funding will operate through a centralized model from its headquarters in Milford, Connecticut and will initially be doing business in 17 states, with plans underway to be able to originate in at least 35 states by the end of 2010.
The current 17 states TMS Funding is lending in are: California, Connecticut, Delaware, Florida, Georgia, Illinois, Massachusetts, Maryland, Michigan, New Jersey, New Hampshire, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas, and Virginia.
“The mortgage broker plays a very important role in providing borrowers access to some of the lowest mortgage rates available,” added Mr. Walsh. “There are still many high-quality and knowledgeable mortgage brokers that are committed to doing the right thing to help local borrowers find the most suitable mortgage at the most competitive rate. These are the mortgage brokers that TMS Funding wants to partner with on an ongoing basis.”
For more information on TMS Funding, please call 1-888-371-2989 or visit http://www.tmsfunding.com.
About Total Mortgage Services, LLC
Total Mortgage Services, LLC, a provider of some of the lowest mortgage rates, is an industry-leading direct mortgage lender and mortgage broker that has funded over $4 billion in mortgage loans since 1997. Licensed in 21 states, Total Mortgage offers a variety of products and programs including fixed-rate loans, adjustable rate mortgage loans (ARMs), jumbo loans, FHA mortgages and more. In 2010, Total Mortgage launched its wholesale lending platform TMS Funding. Visit TotalMortgage.com for current mortgage rates, FHA mortgage rates, jumbo mortgage rates, ARM rates as well as other mortgage rates. For more information on Total Mortgage, please visit http://www.totalmortgage.com.
About TMS Funding
TMS Funding is an emerging leader in the wholesale mortgage industry, with a focus on developing long-term relationships with quality mortgage brokers, and is committed to offering industry leading customer service, technology, and competitively-priced products. The objective of TMS Funding is to enable its mortgage broker partners to better serve their customers and respond to individual client needs. TMS Funding is currently doing business in 17 states, with plans to be able to originate in at least 35 states by the end of 2010. For more information on TMS Funding, please visit http://www.tmsfunding.com.
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