The Fastest Turn Around Times!

The Money Store has the fastest underwriting and loan closing turn around times!!

HUD News

Converting Existing Homes to Rentals - New underwriting instructions that HUD is providing to stamp out unscrupulous practices arising in the housing mortgage market. See Mortgagee Letter 08-25 for details. Morator...

Become a part of our Winning Team

We, at The Money Store® pride ourselves on providing the best service to our customers. Besides our competitive pricing we want to make sure your experience with us is a pleasant one. Join us today and see why The Mone...

For nearly 40 years, THE MONEY STORE® name has been synonymous with mortgage lending in America. It’s revolutionary concept of making borrowing against your home possible for millions of homeowners who couldn’t find a willing lender changed the face of homeownership forever. The new MONEY STORE® is extending those lending options to more homeowners through new partnerships created from our FHA Broker Channel.

Contact Us!

For more information, please contact Phil Mancuso, Phone 908-303-6503 or Nick Sementa.

Licensed States

View a complete map and list of all licensed states. Our states are expanding rapidly so check back often to view the latest list.Read More

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IMPORTANT: New Email for Submissions

Our new email address for submissions is: ws_submissions@themoneystore.com.

SUBMISSIONS MUST HAVE THE BORROWER'S NAME AS THE SUBJECT HEADING.

Submission requirements:

Complete 1003
Appraisal if refi
Fully executed purchase contract if purchase
GFE
Signed disclosures
Income docs
FHA Case number assignment (does not have to be in MLD's name at submission)
Broker's DU or LP FHA findings if approve/eligible
Broker's credit
Submission form

Additional 1003 in Fannie Mae format, Point, Caylx, or encompass format. (need separate files if two unmarried co borrowers)

FHA Notice on delay in FHA condominium changes

Implementation of FHA’s new policy guidance for condominium project approval and condo unit financing will be delayed until December 7th 2009. The new guidance, to be issued within the next two weeks, will: 1) offer additional leniencies to address the difficult market conditions and 2) augment some portions of FHA Mortgagee Letter 2009-19, providing additional information and clarificationRead More

Important Notice: Changes to Rate Sheets

More Competitive
Jumbo Hit is now 65BPS as opposed to 85BPS
Pay-up for higher Conforming Loan Amounts

Loan Amount Adjusters have been LOWERED!

We have changed our Lock Periods to now be 15 and 30 days.

Important Notice: Mortgage Disclosure Improvement Act

Effective for all applications dated on or after July 30, 2009 on all closed-end transactions, regardless of loan purpose or lien position, involving a borrower’s principal or secondary dwelling(s). Investment properties are excluded. For purposes of this Policy, the application date is the date The Money Store receives the application or receives the application from an Approved Broker, and not the date an Approved Broker receives the application. Read More

New Credit Overlays on FHA loans

Due to the continued deterioration in the secondary markets, MLD Mortgage / DBA The Money Store must make the following changes to our current FHA guidelines.

Minimum FICO score of 620 regardless of AUS findings
We will no longer allow any mortgage delinquencies in the last 12 Months
Non-traditional credit has been discontinued

Last day to lock any loans under the old guidelines will be February 19th, 2009. Any loan that fits this criteria must close on or before 2/28/2009. There will be no extensions granted to these deadlines.