Total Mortgage Services, a nonbank mortgage lender based in Milford, Conn., on Monday said it plans to hire 50 new loan officers as it expands its retail presence in the U.S.
The privately held firm is licensed in 23 states and has five additional licenses pending.
In a statement, company president John Walsh said TMS is looking for experienced LOs “who not only have a track record of producing quality loans, but who are technologically savvy.”
TMS does not service loans and instead sells its production ‘servicing’ released.
The firm usually not disclose its loan production numbers. According to an estimate made by the Quarterly Data Report, TMS is funding roughly $250 million a quarter in new loans.
TMS also originates through the wholesale channel and is contemplating an entry into correspondent, according to one official close to the company.
