Total Mortgage Services, Milford, Conn., said it has been approved by the Department of Housing and Urban Development to originate and purchase Federal Housing Administration-insured loans. The company, which hopes to fund up to $1 billion in mortgages this year, is about to launch a new wholesale division that will table fund through loan brokers. "Our Full-Eagle designation will also help us significantly increase our FHA mortgage volume, which was only 5% of our total production in 2009, to 20-25% of production in 2010," said company president John Walsh. The non-bank lender was founded in 1997.
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