heard on the street
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Titan Lenders named a preferred provider for Flagstar’s broker-tobanker initiatives
Titan Lenders Corporation has been named a preferred provider by Flagstar Bank for its wholesale lending business’s broker-to-banker initiatives. Flagstar Wholesale Lending offers those correspondent lenders who meet spe-
grams attract high quality, prolific mortgage businesses that want to serve borrowers as correspondent mortgage bankers, with the many advantages that entails,” said Greg Lutin, executive vice president, national sales manager for Flagstar Bank. “Selecting Titan as a mortgage fulfillment services provider for these programs will help ensure the consistent delivery of quality closed electronic loan files by Flagstar’s new correspondent lenders.” “Titan Lenders Corp. is honored to provide its services and expertise for Flagstar’s progressive broker-to banker initiatives,” said Titan Lenders Founder and Chief Executive Mary Kladde. continued on page 30
Call Now: 1-877-773-7178
Presidents First is a multi-state, full-service home mortgage
Conforming Fixed FHA 203B FHA 203k FHA Streamline
WHOLESALE AE’S WANTED For additional information Please contact us at:
1-877-773-7178
445 Broadhollow Road Melville, NY 11747 www.presidentsfirst.com
FEBRUARY 2010
Banker dedicated to offering quality mortgage solutions with an unwavering commitment to service. Having years of experience in the mortgage industry, we understand what’s important. Presidents First is dedicated to providing our customers with intelligent, innovative mortgage products at aggressive rates and unparalleled service levels. Utilizing hands-on common sense underwriting, expeditious closing strategies and personalized account servicing, Presidents First is focused on helping our customers to grow their business. Offering affordable lending solutions for borrowers that deserve quality loan programs and stability - it’s clear to see why Presidents First is America’s Leading Wholesale Lender.™
HAWAII MORTGAGE PROFESSIONAL MAGAZINE
Presidents f irst
America’s Leading Wholesale Lender ™ Let Us Help Grow Your Business!
www.NationalMortgageProfessional.com
to convert to a Full-Eagle, or non-supervised lender. The company may now originate, fund, hold, purchase and sell Federal Housing Authority (FHA)backed mortgage loans. “This Full-Eagle approval is another proof point of Total Mortgage Services’ operational integrity and financial strength,” said John Walsh, president of Total Mortgage Services. “Being a nonsupervised lender will help further streamline our process for FHA loans, which will allow us to pass the cost and time savings on to high-quality borrowers in the form of lower FHA mortgage rates and better service.” Total Mortgage Services was founded in May of 1997 with a customer centric focus and a mission of responsible lending. The company offers a range of mortgage solutions to high-quality borrowers, from FHA mortgages to jumbo loans, with some of the lowest current mortgage rates in the industry. Through a centralized business model, Total Mortgage is able to create significant efficiencies in both its origination and operational infrastructure, and pass the cost and time savings on to borrowers working with Total Mortgage in the form of lower mortgage interest rates and better service. “Our Full-Eagle designation will also help us significantly increase our FHA mortgage volume, which was only five percent of our total production in 2009, to 20-25 percent of production in 2010,” said Walsh. “In addition, when we combine this approval with the upcoming launch of our new wholesale division, TMS Funding, which will also provide very attractive mortgage rates to our broker base, we are even better positioned to continue to grow our origination volume in 2010 to over $1 billion, despite a U.S. mortgage market that is expected to decline year-over-year.” The company’s production is driven by a centralized retail lending platform, which has more than 25 very experienced and advice driven loan officers. Total Mortgage will be launching TMS Funding, its wholesale lending platform in January 2010, to offer mortgage brokers and borrowers better service, choice, knowledge and efficiency in the mortgage lending process. The wholesale platform will also operate through a centralized model in order to improve the consistency and quality of the broker experience and reduce the wholesale platform’s risk profile. Currently licensed in 19 states, Total Mortgage currently has an application pending with the Commonwealth of Pennsylvania and intends to be licensed in five to 10 additional states in 2010. The company is projecting 2010 closed loan production to increase to $1 billion. For more information, visit www.TotalMortgage.com.
cific underwriting criteria a warehouse facility, and purchasing facility to support their adoption of electronic closings and notes. Titan Lenders is a U.S.-based domestic mortgage fulfillment outsource operation that offers a “parallel and variable cost alternative solution” to lenders’ maintaining back office and warehouse line management operations. Titan provides flexible hours of operation to support its clients coast-to-coast. Titan allows lenders to reduce risks and errors by utilizing its file flow management tools and electronic compliance safety checks through Cerberyx, its proprietary process software system. “Flagstar’s broker-to-banker pro-
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