Total Mortgage Services, LLC, a fast growing nonbank based in Connecticut, on Tuesday announced that it has hired former Bank of America vice president Lisa Schreiber to head its wholesale division.
According to a statement from the company, Schreiber's job will be to make TMS a top player in wholesale, a channel that has been losing market share since the housing bubble burst. A 24-year veteran of the mortgage industry, she will carry the title of executive vice president of TMS Funding and report to company president John Walsh.
She joins TMS from NetMore America where she served as chief strategy officer. Prior to that she was an EVP at American Brokers Conduit, a division of the now defunct American Home Mortgage, Melville, N.Y.
Among wholesalers, NetMore ranks 29th nationwide, according to figures compiled by National Mortgage News, and the Quarterly Data Report. ABC was a top 10 wholesaler. Bank of America, which until recently ranked fourth among wholesalers, is exiting the channel.
TMS entered the wholesale space in 2010 but its wholesale volumes, to date, have been very small.
