If loan volumes are slowing, don’t tell that to TMS Funding of Milford, Conn. The nonbank residential lender recently hired six wholesale account executives and plans to hire more.
“There are a lot of qualified, experienced AEs out there, some with 20 to 25 years of experience,” said Lisa Schreiber, executive vice president of wholesale for TMS.
The six recent hires include Ingrid Helfgott (30 years of experience), Mark Karanovich (28 years), Samantha Hay (20 years), Kathleen McLaughlin (20 years), Alan Caldwell (19 years), and Patrick Creighton (16 years).
It is the job of wholesale AEs to gather product of loan brokers, a channel that is under pressure because of new Federal Reserve regulations that prohibit how they can earn compensation. Schreiber, though, doesn’t believe the new rules will hammer the broker business much at all. “Brokers will always find a way to compete,” she said.
