MetLife Home Loans, a division of MetLife Bank, N.A., offers a full array of Home Equity Conversion Mortgage (HECM) reverse mortgage products, including a complete suite of LIBOR-based HECM products and HECM Fixed-Rate products.

Four levels of service are available to approved wholesale companies: TurnKey Broker, Broker 1, Broker 2 and Correspondent.

MetLife Home Loans TurnKey Reverse Mortgage Program^SM Broker

Designed especially for financial institutions, the TurnKey program makes it easier for third-party originators to offer reverse mortgages without having to make an investment in new staff or infrastructure to support fulfillment.

The TurnKey Broker is responsible for:

• Identifying suitable borrowers and assisting them with the decision process
• Loan origination
• Assisting MetLife Home Loans in obtaining any additional items required to clear conditions

MetLife Home Loans is responsible for:

• Processing the loan
• Underwriting the loan
• Preparing all loan closing documents
• Funding the loan
• Getting the loan insured with the FHA
• Servicing the loan
• Loan delivery

Broker 1

As a Broker 1, the broker acts in a broker capacity in which loans close and fund in the name of MetLife Home Loans.

• Loan origination
• All the services required in processing the loan
• Assisting MetLife Home Loans in obtaining any additional items required to clear conditions.

MetLife Home Loans is responsible for:

• Underwriting the loan
• Preparing all loan closing documents
• Funding the loan
• Getting the loan insured with the FHA
• Servicing the loan
• Loan delivery

Broker 2

The Broker 2 option is available for direct endorsement correspondents. As a Broker 2, the broker acts in a capacity in which loans close and fund in the name of the approved broker.

The Broker 2 is responsible for:

• Loan origination
• All the services required in processing the loan
• Assisting MetLife Home Loans in obtaining any additional items required to clear conditions.

 MetLife Home Loans is responsible for:

• Underwriting the loan
• Preparing all loan closing documents
• Getting the loan insured with the FHA
• Servicing the loan
• Loan delivery

All of these loans are prepared to close in the name of the approved broker, and the approved broker assigns the loan to MetLife Home Loans at closing. A sample Broker 2 contract is available upon request.

Correspondent

The Correspondent option is available for licensed lenders who are also direct endorsement approved to underwrite HECM loans with a warehouse line of credit on a servicing-released basis.

The Correspondent is responsible for:

• Processing, underwriting, closing, funding, and insuring the loan

MetLife Home Loans is responsible for:

• Servicing and delivering the loan

To learn more about becoming a MetLife Home Loans reverse mortgage broker or correspondent lender—and what an association with MetLife Home Loans could do for your business—contact your local reverse mortgage Account Executive today.