HomePrep is a Technology Solution That Connects Mortgage Loan Originators
With Clients on Their Path to Mortgage Readiness, To HUD Counselors That Help Them Achieve It!
HomePrep is a Technology Solution That Connects Mortgage Loan Originators
With Clients on Their Path to Mortgage Readiness, To HUD Counselors That Help Them Achieve It!
The connection between MLO's and HUD counselors is made possible by Indisoft, a national mortgage software company.
National Foundation for Debt Management, a national non-profit HUD housing and credit counseling agency, is the initial pilot HUD counseling agency of HomePrep.
Most clients unprepared for a mortgage struggle with credit, student loan repayment, and down payment. While MLOs can often assist with individual issues, finding a comprehensive solution remains a challenge.
The MLO:
On the initial assessment with a client, HUD counselor reviews soft credit, income and assets with client and then provides an Action Plan that includes the estimated timeframe of completion when client will be mortgage ready. The Action Plan is given to the client & MLO; great to share with the referring realtor and is updated as client progresses.
Freddie Mac Homecoach is used exclusively by HUD Counselors and only requires soft credit! HomeCoach is identical to the Freddie Mac LPA and enables HUD counselors to see if there is anything else delaying a client from moving forward with a mortgage. A MUST DO upfront for your clients!
As the referring MLO, you are notified that the client is mortgage ready! Most likely, you will already be communicating with the client through their journey to homeownership!
1. Credit Help: Short (0-6mos) or long term (7mos-5yrs)
2. Down Payment Assistance
3. Student Loan Repayment Plan
4. Budgeting
5. Home Buyer Education
6. Freddie Mac HomeCoach LPA feedback certificate for Conventional loans
o Coming Soon! HomeCoach Total Scorecard for FHA loans
When clients are Mortgage-Ready, the Mortgage Loan Originator is notified!
Low-income homebuyers may qualify for free or discounted services.
HomePrep is part of The National Housing Advocacy Platform provided by IndiSoft https://www.indisoft.us/
The HomePrep HUD housing and credit counseling agency is the National Foundation for Debt Management, located at 13921 Icot Blvd., Ste. 706 in Clearwater, Florida 33760. The email address is housing@nfdm.org and the website is NFDM.org.

Article by Pam Marron, Loan Originator 11/28/2023
MLO's: What do you do with clients who have issues preventing them from getting a mortgage?
Both short term (1-6 mos) and long term (7mos to 5 yrs) credit help using CreditXpert tools and more.
Down payment assistance available in all 50 states by 1)utilizing HUD Counselors...
or 2)MLOs can get DPA info directly through Down Payment Connect.
Student loan repayment plans through Student Debt Solutions (SDS), whether for purchasing a home or just needed individually.
Homebuyer education needed for down payment assistance and specific grants.
A family budget allows you to see how much money you have, how much money you have left over, and how much you can put towards a mortgage.
For HUD counselors to use, works with a soft credit pull, and for conventional Affordable mortgages.

Under the guidance of the National Foundation for Debt Management, clients receive tailored support to become 'mortgage ready.' Essential to this process are two key documents: a Client Authorization for Information Release and a Memorandum of Understanding, both requiring signatures from the client and MLO for portal upload.
Both the MLO and client sign the Client Authoriz. to Allow MLO to Release Financial Info to 3rd Party and Memorandum of Understanding on the right.
After MLO's have signed up with HomePrep, you can submit client files into the RxOffice CMS 3 different ways. Once you've clicked on the New Case icon on the left, on the top left of page select:
My wife and I would Love for you to pass along our regret of losing Mathew Thomas with National Foundation for Debt Management (NFDM.org), our HUD Counselor. We met with Mathew on Thursdays once a week like clockwork. We would learn in detail how to fix our credit. He would set attainable goals that you can reach and feel better about yourself that you are accomplishing something even if it's small. We learned everything has a positive outcome with Matthew. He paid so much attention to detail that you felt you were really listened to and valued and never judged… your question was answered with respect. We are so sad that in the middle of our home purchase journey Mathew wasn't there to see all the work he put into helping us achieve our life goal at 50 years old of owning a home for the first time in our lives. 
Please tell Mathew we miss him and without him, none of this would ever be possible. 
Thank you Mathew, we miss you. WE DID IT!
- Chris and Valorie, clients of HomePrep
See How to use Student Debt Solutions here.
See how clients can input information and learn what a New student loan payment is within 15-20 minutes. Payment to Student Debt Solutions (SDS) is only required if client proceeds with this service. SDS is integrated into HomePrep services as well.
Video shows from start to paywall and then afterwards to complete your repayment plan.
The cost for HUD counseling services are paid upfront by the client.
When the client is mortgage ready, the HUD counselor notifies the referring MLO.
If the client comes back to the referring MLO for their mortgage, the MLO provides a credit towards the clients closing costs for the HUD counseling services that the borrower paid upfront.
Standard NFDM HUD Counseling Service Costs:
Standard SDS Student Loan Repayment Plan cost:
DISCOUNT LIMITED THROUGH APRIL 30, 2024 FOR SERVICES THROUGH HOMEPREP:
DISCOUNT LIMITED THROUGH APRIL 30, 2024 FOR SERVICES THROUGH HOMEPREP:
HomePrep is the MLO resource to get clients with issues that need to be fixed connected to HUD counselors who can get them mortgage-ready.
Contact us to get your demo today!
Pam Marron, NMLS# 246438
Innovative Mortgage Services, Inc. NMLS# 250769
Equal Housing Lender
