Mortgage Harmony Corporation announced that it has expanded its strategic alliance with Denver-based LenderLive Network Inc. to include the servicing of HarmonyLoans. The HarmonyLoan is a consumer-initiated interest-rate-resetting mortgage with a patented recurring compensation structure for loan officers. It aligns the interests of consumers and mortgage originators in a way that is unprecedented. LenderLive Network is a premier domestic-based, end-to-end mortgage services provider. They have agreed to offer the HarmonyLoan to affiliated financial institutions as part of their subservicing offerings. LenderLive Network also offers mortgage outsource services, correspondent lending, comprehensive document services and settlement services through their other divisions.
“We are very excited to offer our current as well as new customers the ability to service the HarmonyLoan,” said Rick Seehausen, CEO of LenderLive Network. “The HarmonyLoan along with the Loan Retention Software brings value through greater efficiency and economics to the mortgage market and we are happy to play an important role in that effort.”
Borrowers who secure a HarmonyLoan will be able to take advantage of lower interest rates or extend the loan term without the hassles and costs of refinancing. They can reset their rate as often as every 120 days with a click of a button, assuming their payment history is unblemished.
“We are extremely happy to expand our relationship with LenderLive to include the servicing of HarmonyLoans,” said Keith Kelly, CEO and co-founder of Mortgage Harmony. “LenderLive has been a pleasure to work with as our development teams were able to fully implement our Loan Retention Software with their systems in less than thirty days. This is an exciting new development in our ongoing relationship and enhances this revolutionary service offering for the mortgage industry and its consumers.”