"CHEIFS, which is Cornerstone's prime, non-debt home equity funding solution, was originally built for financial advisors to help fund retirement, insurance and investment strategies, but demand from the mortgage broker community led the company to expand distribution through Prime HEI. Unlike HELOCs, closed-end seconds and reverse mortgages, which carry monthly payment obligations or upfront costs, CHEIFS provides a fractional equity investment, allowing homeowners to convert a portion of their home's value to cash while retaining ownership and control."
"Prime HEI fills a gap in today's non-traditional home equity financing environment, said Craig Corn, co-CEO of Cornerstone Financing. Brokers have been asking for a modern, prime HEI alternative to HELOCs and CES especially for clients focused on preserving liquidity and optimizing long-term wealth. Our cost structure is lower than most HEI products in the market today, which gives brokers and their clients a meaningful advantage."
CHEIFS is Cornerstone's prime, non-debt home equity funding solution originally developed for financial advisors to fund retirement, insurance and investment strategies. Demand from the mortgage broker community prompted expansion of distribution through Prime HEI. CHEIFS uses fractional equity investments to convert part of a home's value to cash while homeowners retain ownership and control, avoiding monthly payments or upfront costs tied to HELOCs, closed-end seconds and reverse mortgages. Prime HEI delivers the solution to brokers via a compliant, structured program with a digital submission and quoting portal, underwriting support and competitive broker compensation paid by Cornerstone. Initial rollout targets California, Arizona and Colorado.
Read at www.housingwire.com
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