Mellohome is a mortage and lender referral service. Agents receive referrals from mellohome for buyers and sellers that have been qualified by loan consultants.
Consumers who have received a mortgage pre-approval and need a real estate agent are referred to partner agents by mellohome. These agents then help buyers and sellers. They pay a referral fee on the closing of a transaction.
Mellohome charges partner real estate agents for closed transactions. When a mellohome buyer or seller lead buys or sells a home, the agent who received the lead pays a referral fee. This fee is likely around 25-40% of the gross commission of the transaction. Most services are free for consumers.
Mellohome is a subsidiary of LoanDepot, a mortgage company.