TMS Funding

GSEs Announce Guidelines for Compliance With HARP Phase II

admin — Thu, 17 Nov 2011 19:05:03 +0000

“These changes are certainly a step in the right direction, and provided that rates remain low, should allow many homeowners to refinance and save a considerable amount of money. This will help the overall economy and put us closer to recovery,” said John Walsh, president of Total Mortgage Services LLC.

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A Hand Up, Not a Handout: How Marginal Mortgage Reform Can Revive the Housing Market and Help Save Our Economy

admin — Mon, 14 Nov 2011 21:23:47 +0000

The expression that we should give those in need “A hand up, rather than a handout” is based on the premise that responsible people will achieve success on their own if we help get them started on the right path; while giving them more than a start will destroy their initiative and sense of responsibility. In their book Nudge, Richard Thaler and Cass Sunstein describe the importance of how choices are presented to us relative to the major life-decisions we make. They argue that presenting choices to consumers that put wise decisions in a favorable light is a way to nudge people into beneficial behavior. We have come to that point in the mortgage market, where a nudge is needed. A nudge that takes the form of a marginal relaxation in underwriting standards (in exchange for higher pricing) that can have a tremendous impact on the housing marketplace and U.S. economy.

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Head of National Lender Supports GSE Loan Limit Raise in Letter to Congress

admin — Mon, 14 Nov 2011 17:23:05 +0000

John Walsh, president of Total Mortgage Services LLC, has authored an open letter to members of the U.S. House of Representatives urging them to temporally raise the lending limits of the government-sponsored enterprises (GSEs) to $729,750 without delay and raise them nationwide not just in “high-cost areas.” Walsh believes this move would help put the nation’s housing sector on the road to recovery and our economy on firmer footing.

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2011 State of the Wholesale and Correspondent Channels: A National Mortgage Professional Magazine Roundtable Discussion

admin — Tue, 01 Nov 2011 19:34:31 +0000

John Walsh: We see a tremendous opportunity in the wholesale channel today as many lenders have exited the channel and the remaining lenders do not seem to be providing real value, either from a rate perspective or service levels. However, I believe to be successful, wholesale lenders must focus on creating the best possible operational infrastructure in order to deliver the highest service levels. Our goal at TMS Funding, the wholesale lending arm of Total Mortgage Services, is to optimize the lending value chain through a game-changing operations infrastructure to deliver the perfect mortgage and the ultimate customer experience.

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Wholesale is Part of the Solution … and Ready to Grow Again

admin — Tue, 25 Oct 2011 15:22:08 +0000

The mortgage industry has dealt with sweeping changes over the past few years significantly impacting the mortgage broker and wholesale lending. As a result, the wholesale origination model has been largely redefined. Although many brokers and lenders have left the business, the wholesale channel now has a well-defined regulatory framework with higher-quality and better-skilled mortgage professionals to advise borrowers on their most important financial decision. This is why I believe the mortgage broker will thrive in the coming years.

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Wholesale Market Share Drops

admin — Mon, 24 Oct 2011 21:42:24 +0000

But give the sector its due—thousands of brokers are still active and operating despite firms like Bank of America and Wells Fargo. And it’s no secret why brokers can keep their doors open: they don’t get paid unless they produce. It’s no skin off the nose of the bank table funding the loans. There are some positive developments out there. Over the past year a handful of companies and new entrants are targeting the sector, some with big plans, some with modest plans.

Companies that plan to expand their wholesale presence, if they haven’t already, include 360 Mortgage Group, Austin, Texas; Total Mortgage Services, Milford, Conn.; and Carrington Mortgage Services of Irvine, Calif.

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TMS Funding Launches Wholesale Mortgage Account Executives Hiring Campaign

admin — Tue, 04 Oct 2011 17:34:32 +0000

Actively recruiting high quality AEs to position wholesale lending volume for significant growth in 2012

MILFORD, CONNECTICUT – (October 4, 2011), TMS Funding, the wholesale residential lending channel of Total Mortgage Services, LLC, announced today it is actively hiring new Account Executives to help expand its wholesale lending market position throughout the 21 states and Washington, DC in which it is currently licensed for wholesale mortgage production. TMS Funding is recruiting high quality Wholesale Account Executives with two-plus years of experience and a current mortgage broker base funding Conventional, FHA, USDA and Jumbo loans. The wholesale lender is offering a highly competitive compensation package and access to some of the lowest mortgage rates and best-in-class operational support in the mortgage industry.

“TMS Funding’s growth strategy is focused on expanding our team of experienced Account Executives to service and support high quality mortgage brokers, introducing new products, such as our recently introduced flexible jumbo mortgage product, and leveraging our significant investment in our operational infrastructure to deliver the perfect mortgage to all our stakeholders in the most efficient manner,” commented John Walsh, President of Total Mortgage Services. “This new hiring campaign demonstrates our total commitment to the wholesale channel as well as the mortgage broker community while positioning TMS Funding to further expand its production volume into 2012 and beyond.”

TMS Funding is hiring Account Executives to service mortgage brokers in all areas of California, Florida, Georgia Illinois, Massachusetts, Maryland, Maine, Michigan, Mississippi, North Carolina, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, Vermont and Washington DC.

To find out more information about joining TMS Funding as a Wholesale Account Executive please contact Robin Buttner by calling 888-371-2989 ext. 103 or email her at

rbuttner@totalmortgage.com.

About TMS Funding
TMS Funding, a wholesale lender, 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. For more information on TMS Funding, please visit http://www.tmsfunding.com.

Media Contact:
John Lovallo
Lovallo Communications Group
Telephone: 203-526-6371
Email: john.lovallo@lovallocommunications.com
or email at info@tmsfunding.com

TMS Launches Jumbo Wholesale

admin — Mon, 22 Aug 2011 18:08:13 +0000

TMS Funding, Milford, Conn., is making jumbo loans available through its wholesale channel, president John Walsh told this publication.

Walsh said the jumbo wholesale product is “competitively priced” and in hybrid loan form.

The product is available as a 5/1, 7/1 and 10/1 loan, goes up to $2 million and has a debt-to-income ratio of 45%. Its loan-to-value ratio is 90% for amounts up to $625,000, and 80% for amounts up to $1 million. Second home loans are available at an 80% LTV for amounts up to $650,000 and at an LTV of 75% for loan amounts up to $1 million.

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TMS Funding New-Hires Featured on Progressinlending.com

admin — Tue, 07 Jun 2011 18:04:36 +0000

MILFORD, CONNECTICUT – (June 6, 2011), TMS Funding is committed to building a team of account executives with the strongest possible combination of integrity, sales leadership, technological savvy and customer service skills in the wholesale lending business,” commented Lisa Schreiber, Executive Vice President of Wholesale Lending at TMS Funding. “As TMS Funding continues to grow through both high-quality originations and geographic expansion, we are focused on servicing our mortgage broker partners by utilizing best practice in sales, service and especially operations to maintain quality and create efficiencies to enhance their performance.

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TMS Funding Welcomes Five New Account Executive Hires

admin — Mon, 06 Jun 2011 18:03:38 +0000

MILFORD, CONNECTICUT – (June 6, 2011), TMS Funding, the wholesale residential lending channel of Total Mortgage Services LLC, has hired five wholesale account executives with 72 years of combined experience in developing new business relationships and supporting mortgage brokers. Robert Lukowski Jr., Craig Castronovo, Matthew Neeley, Scott Beckwith and Tracey Ibsen will join TMS, increasing the number of wholesale account executives to 12, servicing 10 states.

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