The Money Source Inc.

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Did You Know?

Sep 19 2017

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We show you how quickly we bought your loan!

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On each Purchase Advice, we show when the loan was delivered and when it was purchased. 

We are your partner on the path to success and our EASY system is built to help you grow! 

Topics: EASY, purchase advice

Did You Know?

Aug 04 2017

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We are a Top 10 Investor for 203(k) loans!

We've been doing 203(k) loans for many years and we know the pitfalls. We also have a dedicated team that handles the draws for you (not outsourced).

We are your partner on the path to success and our EASY system is built to help you grow! 

Topics: 203k

Did You Know?

Jul 12 2017

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All sellers are required to maintain a locked-to-purchase ratio of 75% or greater. 

Pull through is measured by the amount of fallout a correspondent has.

Fallout is defined as any loan locked with TMS and is not purchased by the required expiration date. 

We are your partner on the path to success and our EASY system is built to help you grow!

Topics: did you know, pull-through

The Money Source Honored as Financial Services Bronze Stevie® American Business Awards Winner

Jun 30 2017

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The Money Source, a rapidly expanding national mortgage lender and mortgage servicer based in New York, has been named a Bronze Stevie® Award winner for the Stevie's American Business Awards.

The Money Source won Company of the Year in the large Financial Services category for its work as a national mortgage lender. This honor follows their recognition from 2016, when The Money Source was awarded the Silver Stevie® as a Great Employers Award Winner.

Also receiving recognition were The Money Source executives Darius Mirshazadeh, CEO, and Daniel Moran, SVP of Marketing. Mirshahzadeh was recognized as a Bronze Executive of the Year in the Financial Services category. Moran was recognized as Marketing Executive of the Year in the Bronze category. 

“Our leadership team has been laser-focused on building a world-class culture at The Money Source, not just a successful mortgage company,” said Darius Mirshahzadeh, CEO of The Money Source. “Being recognized by Stevie Awards multiple times is a testament to the talent and dedication of every team member and the inspiration they bring to our organization every day.”

The American Business Awards honors the merits of the company's innovation, integrity, effectiveness, creativity and growth.

The awards were presented to winners at a gala ceremony at the Marriott Marquis Hotel in New York City on Tuesday, June 20.

Topics: The American Business Awards, Stevie Awards

The Money Source Recognized as a Top National Mortgage Employer for the Third Consecutive Year

Jun 30 2017

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The Money Source, a rapidly expanding national mortgage lender and mortgage loan servicer based in New York, has been recognized as a winner of the 2017 Bay Area Best Places To Work awards for the third consecutive year in a row.

The awards program, presented by the San Francisco Business Times and the Silicon Valley Business Journal, has honored The Money Source for creating an exceptional workplace valued by its employees.

Award applicants were evaluated and ranked across 5 categories according to the number of Bay Area employees.  The ranking found companies in the region whose employees rate them as the highest on such values as fun, collaborative culture, solid compensation and benefits offerings and other amenities as well as management practices.

“We’ve been working to challenge the status quo about what a mortgage company can and will do for more than a decade now,” said Darius Mirshahzadeh, CEO of The Money Source. “When you create a workplace of happy, fulfilled employees, you start a chain reaction of spreading happiness to clients and partners.”

“It’s incredibly gratifying and humbling to be considered one of the best companies in the bay, and we plan to keep up the momentum –– engaging our employees and working with them to grow The Money Source hand-in-hand.”

The recognition follows a year of awards and accolades for The Money Source. The company was recently highlighted as one of America’s Top Mortgage Employers by National Mortgage Professional Magazine.

The Money Source was also recently named a Silver Stevie® Award winner in the first annual Stevie Awards for Great Employers.

Topics: bets places to work, awards

Did You Know?

May 11 2017

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We follow the HUD 4000.1 Guidance on Family Members.Click here for the full guide.

Gifts from Cousins

We also will accept gifts funds from cousins, based on guidance from HUD, under the following circumstances:

  • The donor cousin must provide a signed letter of explanation that explicitly states the familial relationship between the borrower and the cousin.
    • Stating: “Joe Smith is my cousin.” is not an acceptable explanation.
    • An example of an acceptable explanation would be: “Joe Smith is my cousin. His mother, Jane Smith, and my mother, Josie Smith, are sisters. Joe Smith is Jane Smith’s son, which makes him my first cousin.”
  • The donor cousin must be a first cousin only. Second cousins and beyond will not be accepted.
  • The letter of explanation must come from the donor, not the borrower.
  • All other HUD requirements for donor gift funds outlined in the 4000.1 must be met, including obtaining obtaining donor bank statements.

Gifts from In-Laws

Gift funds from in-laws (son-in-law, daughter-in-law, father-in-law, mother-in-law, brother-in-law, or sister-in-law of the borrower) will be accepted so long as the in-law relationship is current gift funds from future in-laws (marriage pending) or past in-laws (post-divorce) will not be accepted. 

Are all of your fellow co-workers getting our emails? Contact your VP of Sales if you need to add anyone to our communications. 

Topics: did you know, family guidance HUD

Top 10 Benefits of Partnership with The Money Source Inc.

Apr 07 2017

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Consumers Remain Highly Confident

Mar 31 2017

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There were two main influences on mortgage rates over the past week. The canceled vote on the health care bill was positive for mortgage rates, while an impressive rise in consumer confidence was negative. The offsetting effects resulted in mortgage rates ending the week a little lower.

Last week, President Trump was unable to gather enough votes to pass the health care bill and the vote was canceled late Friday afternoon. This increased investor concerns about Trump's ability to deliver his business friendly policy changes in other areas. Policies which stimulate growth are good for the economy, but they raise the outlook for future inflation. Investors had pushed mortgage rates higher in anticipation of his policy changes. As a result, reduced expectations were good for mortgage rates. 

MortgageNews_3-31.pngTuesday's report on Consumer Confidence from the Conference Board showed an enormous increase to the highest level in a decade. Solid gains were seen in optimism about both present and future economic conditions. Higher confidence levels generally lead to increased future economic activity, so this data was broadly applauded, but it was not good for mortgage rates.

Encouraging news in the housing sector continued this week. In February, the Pending Home Sales index rose 5.5% from January to the second best level in a decade. There are two reports each month which measure sales of previously owned homes. The report on sales of existing homes measures closings during the month, while pending sales measure contracts signed, making the Pending Home Sales data a leading indicator of future closings.

Looking ahead, the important monthly Employment report will be released on Friday. As usual, this data on the number of jobs, the unemployment rate, and wage inflation will be the most highly anticipated economic data of the month. Before that, the ISM national manufacturing index and Construction Spending will be released on Monday. The ADP Employment Change and the ISM national services index will come out on Wednesday. 

Topics: mortgage news

We Make Trailing Docs EASY!

Mar 29 2017

At The Money Source, we want to do everything we can to help you be successful. One feature of our EASY loan platform that helps you stay productive is our Trailing Docs report. 

To access this report, go to the Reports section of EASY and click on the Trailing Docs option. 

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This report downloads an Excel file that includes every loan that has missing docs along with a list of the docs that are missing. This makes it EASY to review all the information in one report. 

By staying on top of missing docs and submitting them right away, everyone is more productive and successful. 

You can send trailing docs and any questions you have on trailing docs to our Records Retention team - [email protected].

To make sure all the right people at your company have access to EASY and can regularly check the reports and ensure compliance, simply send an email to [email protected] and include the name and email of the person you wish to be given access. 

We are your partner on the path to success and our EASY system is built to help you grow!

Click here to log  into EASY!

Topics: EASY, trailing docs

Did You Know - Servicer Loan Number

Mar 16 2017

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The servicer loan number is available for you once you lock a loan in EASY.

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We are your partner on the path to success and
our EASY system is built to help you grow!

Topics: EASY, did you know, servicer loan number

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