Milford, CT (PRWEB) May 30, 2013
Total Mortgage Services, LLC, a leading mortgage lender, announced today it has been approved as a Government National Mortgage Association (Ginnie Mae) issuer for the GNMA I and II single-family mortgage-backed securities program. The approval allows Total Mortgage to pool and securitize FHA, VA, and USDA mortgages, and to retain Ginnie Mae mortgage servicing rights. Total Mortgage will also be able to expand its Ginnie Mae product offerings to better serve borrowers.
“Total Mortgage is proud to have completed this rigorous approval process and now be included on the exclusive list of Ginnie Mae issuers,” commented John Walsh, President of Total Mortgage. “This approval not only confirms the strength of our business and responsible lending model, but is another proof point of Total Mortgage’s best-in-class operational infrastructure.”
In order to become a qualified Ginnie Mae issuer, Total Mortgage had to undergo a rigorous screening process to determine its suitability. The Company needed to be an approved FHA mortgagee in good standing and possessing demonstrable experience and management capacity in underwriting, originating, and servicing mortgage loans. In addition, Total Mortgage needed a quality control plan in place for underwriting, originating, and servicing mortgage loans, as well as for secondary marketing.
To maintain Ginnie Mae Issuer status, Total Mortgage must submit annual and quarterly financial reports to demonstrate its continued financial stability, as well as meet several other requirements. For more detailed information regarding Ginnie Mae Issuers, please visit ginniemae.gov.
About Total Mortgage Services, LLC
Total Mortgage Services, LLC is an industry-leading direct-to consumer and wholesale mortgage lender. The company was founded in 1997, and has been included in the Inc. Magazines' list of America's Fastest Growing companies in 2010, 2011, and 2012, and holds an “A+” ranking with the Better Business Bureau. Licensed in 29 states and the District of Columbia, Total Mortgage offers a wide array of mortgage loans. In 2010, Total Mortgage launched its wholesale lending platform, TMS Funding. Visit totalMortgage.com for fixed mortgage rates, FHA mortgage rates, jumbo mortgage rates, ARM rates, as well as other mortgage rates.
For more information on Total Mortgage on the web: http://www.totalmortgage.com
Twitter: @TotalMortgage, and on Facebook at facebook.com/TotalMortgageServices.