Mortgage Broker (with no FHA Approval) should contact MONEYIDEAS Business Development Officer at (877) 449-4535.
Business Development Officer will send you an information packet including the agreement and other forms. The agreement and forms are listed below under the section "HECM Broker Advisor Forms" so that you may downloand them for review at your convenience.
Mortgage Broker reviews package and contacts Business Development Officer with questions, if any. Mortgage Broker then executes and returns agreement along with a copy of your State Real Estate or Mortgage Broker’s License.
MONEYIDEAS provides Mortgage Broker with basic HECM Advisor training and marketing tools. Webcast training and web based self study material is available.
When Mortgage Broker meets potential reverse mortgage client, Mortgage Broker contacts Business Development Officer at (877) 449-4535.
Business Development Officer assists Mortgage Broker and client with product illustration, education and counseling.
A MONEYIDEAS Advisor makes appointment to take application.
Loan processing, underwriting and closing process begins.
The ABC’s of Working with MoneyIdeas for Mature Adults
Reverse Mortgage
Process
HECM Advisor
Responsibilities
MoneyIdeas
Responsibilities
Marketing
X
Education
X
Applicant Assistance Agreement
X
Coordinate Counseling
X
Application / Disclosures
X
Processing
X
Underwriting
X
Closing
X
Funding
X
Shipping / Insuring
X
Compensation
25% of Origination Fee
FHA Approval?
None Required
Required
HECM Broker Advisor Forms
These forms are in Microsoft Word format. You can click on the link to view the document in the browser window or right click on them and choose "Save Target As..." to save them to your computer.
To submit prospects, we have provided two methods for your convenience;
1. Download the form to your computer and fax it to us. Click here to download the form.
~ or ~
2. You can use the online form below.
Reverse Mortgage Prospect - Online Form
Enter your information in the form below, then click the submit button at the bottom of the form. Wait a few seconds for the information to be transmitted.Fields that are bold are required please.