We will “right fit” your HECM needs
The Moneyhouse US Division HECM Channels provide choices for our Partners to “right fit” their origination needs to current company desired levels of risk and infrastructure. As these “Tiers” are scalable, an approved Partner may change their Tier Status with Moneyhouse (based upon eligibility) as their company volume, market share and expertise increases over time.
The Money House On Demand Portal, “MHOD”, serves as the gateway to all of our B2B services and opportunities. For more information on our programs and the benefits of a Partner relationship with Moneyhouse, contact our Sales and Marketing Team today at:
info@mhodportal.com or partners@mhodportal.com.
Listed below is a brief explanation of each of the available Wholesale and Correspondent Partner Tiers:
General
The Wholesale Channel is designed as an entry point for those Partners who currently broker their company applications and do not have HUD Mortgagee Approval. As a Sponsored TPO, these Partners have full access to the Money House On Demand Portal, the one stop location of our LOS, CRM, Rate and Product Information, Training Resources, Library of Forms, Marketing Collateral and robust communication options with our staff.
Wholesale Tier 1
Tier 1 Wholesale Opportunity workflows are designed for approved Partners who are NMLS licensed or exempt and choose to pre-qualify and originate HECM loans. These Partners require Moneyhouse assistance to process originated applications. Moneyhouse will process, underwrite, close in the name of Moneyhouse, fund with Moneyhouse funds, then complete loan execution. Partner compensation is remitted by Moneyhouse per the compensation plan and/or rate sheet rate and price chosen by the Partner and properly disclosed to the Borrower(s), once the loan closing and funding occurs.
Wholesale Tier 2
Tier 2 Wholesale Opportunity workflows are designed for approved Partners who are NMLS licensed or exempt and choose to pre-qualify, originate and process HECM loans per Moneyhouse guidelines. Moneyhouse will underwrite, close in the name of Moneyhouse, fund with Moneyhouse funds, then complete loan execution. Partner compensation is remitted by Moneyhouse per the compensation plan and/or rate sheet rate and price chosen by the Partner and properly disclosed to the Borrower(s), once the loan closing and funding occurs.
Wholesale Tier 3
Tier 3 Wholesale Opportunity workflows are a unique set of Turnkey services for those Partners needing loan application assistance from pre-qualification through loan closing and funding. Designed for approved Partners who are NMLS licensed or exempt, Tier 3 Partners receive high touch Money House On Demand Portal service levels as they pre-qualify and originate HECM loans per Moneyhouse guidelines. Moneyhouse will provide pre-qualification and origination assistance, process, underwrite, close in the name of Moneyhouse, fund with Moneyhouse funds, then complete loan execution. Partner compensation is remitted once the loan closing and funding.by Moneyhouse occurs, per the compensation plan chosen by the Partner and properly disclosed to the Borrower(s).
General
The Correspondent PAA Channel is designed for those Partners who have HUD Mortgagee Approval and originate HECM loan applications as a licensed or exempt NMLS entity. Under a Principal Authorized Agent Agreement and relationship with Moneyhouse, these partners may choose from various Moneyhouse offered loan services as well as have full access to the Money House On Demand Portal for one stop access to our LOS, CRM, Rate and Product Information, Training Resources, Library of Forms, Marketing Collateral and robust communication options with our staff.
Correspondent PAA Tier 1
Tier 1 PAA Opportunity workflows are designed for approved Partners who have executed PAA additional documentation and are HUD Approved, NMLS licensed or exempt entities. Tier 1 Correspondent PAA Partners are whole loan Correspondent sellers who pre-qualify and originate HECM loans per Moneyhouse guidelines. The established PAA relationship allows Tier 1 Partners to share processing, underwriting, and/or closing package additional service options provided by Moneyhouse. Tier 1 Partners close and fund loans in their name using their funds, and present an original documents package to Moneyhouse for purchase consideration as a whole loan purchase request. Partner gain on sale is remitted by Moneyhouse per Partner locked rate and price chosen by the Partner once review and approval to purchase by Moneyhouse has been determined.
General
The Correspondent Channel is designed for those Partners who have HUD Mortgagee Approval and originate HECM loan applications as a licensed or exempt NMLS entity. The Partner is responsible for complete loan file services and closes the loan in the Partner name utilizing Partner funding resources to advance loan proceeds. Full access to the Money House On Demand Portal for one stop access to our LOS, CRM, Rate and Product Information, Training Resources, Library of Forms, Marketing Collateral and robust communication options with our staff is available.
Correspondent Tier 1
Tier 1 Correspondent Opportunity Partners are whole loan Correspondent sellers who present an original documents package to Moneyhouse for purchase consideration as a whole loan purchase request. Loans are offered on a flow basis and Partner gain on sale is remitted by Moneyhouse per Partner locked rate and price chosen by the Partner, once review and approval to purchase by Moneyhouse has been determined.
Correspondent Tier 2
Tier 2 Correspondent Partners are whole loan Correspondent sellers who present an original documents package to Moneyhouse for purchase consideration as a whole loan purchase. Loans are offered under negotiated commitments and Partner gain on sale is remitted by Moneyhouse per Partner negotiated rate and price under the open commitment, once review and approval to purchase by Moneyhouse has been determined.
General
The Aggregation Channel allows for Partner participation in the live market issuance and execution risk associated with bulk loan schedules.
Aggregation Tier 1
Tier 1 Aggregation Opportunity Partners meet Moneyhouse increased volume and profile requirement guidelines for negotiated commitments and delivery of bulk scheduled loans for Moneyhouse review and approval to purchase based upon a market execution strategy determined at the time of loan schedule review.