TMS Looks to Wholesale, FHA to Help Boost 2010 Volume

Total Mortgage Services LLC, Milford, Conn., is on track to surpass its $750 million total volume estimate for 2009 and, despite pessimism about 2010's origination environment, believes it could lend more than $1 billion next year. John Walsh, president of Total Mortgage Services, recently told Origination News that the company expects to be able to grow its volume further next year even though total originations are expected to decline because it is planning to soon add a wholesale channel and obtain a "full eagle" from the Federal Housing Administration. This is expected to expand on its growing core business of retail agency and jumbo originations, which alone have allowed the company to grow its volume considerably from 2008, when its total production was $450 million and the market was particularly challenging.