By John Walsh, President of Total Mortgage Services, LLC On July 14, 2010, Total Mortgage Service formally launched its wholesale residential mortgage lending platform, TMS Funding, in 17 states with expansion plans in place to originate loans in 35 states by the end of 2010. We launched TMS Funding to complement our successful retail lending platform and offer high-quality mortgage brokers greater choice, service, efficiency and some of the lowest mortgage rates available. However, since the overall wholesale channel has declined to about 15 percent from as high as 65 percent of total loan originations, many industry participants are asking “why wholesale?” and “why now?”. We firmly believe that mortgage brokers play a very important role in providing responsible borrowers access to some of the lowest rates available in the industry as well multiple mortgage products alternatives. Mortgage brokers need to be part of the solution for borrowers in this new area of mortgage lending. Without the mortgage broker, most of the competition will disappear and consumers will be left with only a few choices. This will create a significantly less competitive environment, which will translate into higher interest rates for the consumer, since motivation in the marketplace to provide competitive rates will be greatly reduced. TMS Funding sees a tremendous opportunity in the wholesale channel today as many lenders seem too busy to adequately service the needs of the broker community. We believe TMS Funding can quickly become an important resource for the mortgage broker community and help them meet their clients’ needs. There are still many credible and knowledgeable mortgage brokers that are committed to doing the right thing, day in and day out, to help local borrowers find the most suitable mortgage at the most competitive rate. These are the mortgage brokers that TMS Funding wants to partner with on an ongoing basis. TMS Funding is partnering with mortgage brokers that are committed to extensive product knowledge, ethical behavior, and the highest levels of customer service. Visit TMS Funding’s website at www.tmsfunding.com or call 1-888-371-2989 for more information.