Reverse Mortgage Solutions

Third Party Originator

With the Third Party Originator Program (TPO) you retain and expand your client base, increase returns on marketing investment, and grow your business. You originate the loan and we work directly with you and compensate you for choosing us as your investor when we fund the loan.

Participation Requirements

• You do NOT have to be an FHA approved mortgagee
• Your active NMLS state licensing qualifies you for our TPO prorgam

Liberty processing option available (SNAPP/SNAPP+)

Full Correspondent

As a Full Correspondent, you originate, underwrite, process, close and fund the loan. You then send us the complete funded loan. Liberty will then purchase the closed loan as a secondary transaction. Specialized training is provided by Liberty.

Participation Requirements

• FHA approved Full Eagle in good standing
• Reverse Mortgage direct endorsement (DE) unconditional approval
• A DE underwriter on staff
• The ability to fund loans through a warehouse line of credit or other sources
• Properly state licensed as a mortgage banker
• MERS compliant
• Minimum FHA net worth requirements
• Home Equity Reverse Mortgage Information
• Technology (HERMIT) ready

Principal Agent

This program offers a very strong earning potential and enables experienced clients to have more control over the loan origination process. The partner originates, closes and funds the loan. Liberty underwrites and purchases the closed loan as a secondary transaction. 

Participation Requirements

• FHA approved Full Eagle in good standing
• HECM DE unconditional approval or FHA lender in DE unconditional approval
• The ability to fund loans through a warehouse line of credit or other source
• Applicable Federal and/or State licenses
• MERS compliant
• Minimum FHA net worth requirements

Liberty processing option available (SNAPP/SNAPP+)

Wholesale

With the Wholesale Program, the loan process is shared by the broker and Liberty. You develop relationships with clients, guiding them through the application and counseling process. Liberty underwrites, draws documents, closes and funds the loan. Loans close in Liberty's name.

Participation Requirements

• Properly state licensed as a mortgage broker

Liberty processing option available (SNAPP/SNAPP+)

SNAPP/SNAPP+

With our SNAPP program, our goal is to save you time and resources by using our reverse mortgage processors while you maintain the relationship with your customer and keep the income earned from the loan. This program is versatile enough that it works for clients who are new to reverse mortgages, those who need processing support as they grow, and those that want to simply focus their resources on bringing in loans. The SNAPP/SNAPP+ program is available to full partners who have been approved by Liberty.

SNAPP Processing Program

With the SNAPP Processing Program, the Partner is responsible for:

• prospecting
• taking the loan application
• obtaining the HUD Counseling Certificate
• importing the loan into PORTAL.

Liberty manages:

• processing
• underwriting

 

SNAPP+ Processing Program

With the SNAPP+ Processing Program, Liberty ALSO manages:

• maintaining customer contact from application to follow-up
• providing disclosures
• delivering any adverse action notifications.