Total Mortgage Services Launches Wholesale Lending in California

Total Mortgage Services LLC, a leading mortgage lender and broker that has funded over $4 billion in mortgage loans since 1997, announced today that it has formally launched its wholesale residential mortgage lending platform, TMS Funding, in 17 states including California. TMS Funding will offer mortgage brokers some of the lowest mortgage rates available.

Many mortgage lenders have exited the wholesale business so the addition of TMS Funding with competitive rates will be a nice addition for consumers. Jim Lynch, Executive Vice President of Wholesale Lending, is heading up the management of TMS Funding with over 20 years of wholesale lending experience. He has worked for American Mortgage Network (AmNet), Wachovia, and SCME Mortgage Bankers as well as Chase for nearly a decade.

TMS Funding will operate through a centralized model from its headquarters in Milford, Connecticut. It will 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.

Licensed in 21 states, Total Mortgage offers a variety of products and programs including adjustable rate mortgage loans (ARMs), fixed-rate loans, jumbo loans, FHA mortgages and more.