TMS Funding, Milford, Conn., has added a 30-year fixed rate loan to its stable of jumbo products, and announced plans to crank up its hiring of wholesale account executives.
The wholesale arm of Total Mortgage Services said it plans to hire AEs in several regions of the nation including California, Florida, Georgia, Illinois, Massachusetts, New Jersey, New York, the greater Washington D.C. metro area and several other states.
The privately held nonbank said it seeks AEs with two-plus years of experience and a mortgage broker base funding conventional, FHA, USDA and jumbo loans.
TMS president John Walsh told National Mortgage News that the company is seeing a pick up in interest in 30-year jumbos “both on the retail and the wholesale side.”
The activity has been spurred by declining interest rates which has sparked refinancings. (Many jumbo loans convert after five or seven years.)
Walsh said the company's jumbo wholesale and retail products are “competitively priced.” In addition to 30-year fixed product, it also offers hybrid jumbos.
The company recently received seller/servicer approvals from Fannie Mae.
