Cornerstone Financing (CHEIFS)

Basic information

QM program

N/A

Loss payee

N/A

CPL or subordinate clause

N/A

Lock policies & fees

Lock policies

Lock extension

N/A.

Relock

N/A.

Lock & Shop

No

Lender's niche & overlays

Lender's niche

Home Equity Investments (HEI; not a loan). CHEIFS may be considered as an alternative option when clients shop for HELOC, ARM/open-end, reverse mortgage, or similar solutions; CHEIFS is not a HELOC, ARM, or reverse mortgage. Minimum FICO 680. Typical funding is $70,000–$2,000,000 with a 15–25 day close. Broker compensation is 200 BPS; origination fee is the greater of 2.99% or $2,000. Equity-share factors and ACC caps apply per program guidelines.

Not licensed in the client's state? CHEIFS operates in 22 states, and our referral program covers the ones outside your footprint — refer the homeowner, we handle everything, and you earn $1,000 when the agreement funds.

Lender's overlays

CHEIFS is a Home Equity Investment (HEI), not a loan. Consider CHEIFS as an alternative option when clients shop for HELOC, ARM/open-end, reverse mortgage, or similar products; do not present CHEIFS as any of those products. Minimum FICO 680. Funding range $70,000–$2,000,000; typical close 15–25 days. Broker compensation 200 BPS. Origination fee is the greater of 2.99% or $2,000. Equity-share factors and ACC caps apply per current program guidelines.

Not licensed in the client's state? CHEIFS operates in 22 states, and our referral program covers the ones outside your footprint — refer the homeowner, we handle everything, and you earn $1,000 when the agreement funds.

Lender turn time

Initial underwrite (days)

1

CTC conditions review (days)

1

Initial CD (days)

0

Reviews