Simply put your mortgage, bank account, saving account, 401K, and Credit Cards are all linked to one account. As with any new loan the kinks are not yet ironed out and they are calling this a mortgage for the extremely Financially Savy Individuals. A few requirements today, although I am sure in the next 5-10 years we will all be encompased in this sort of pigeon hole unifinancial system. Fico 720 plus, 30% equity in your home, Libor Index will be used and Ameriprise Financial will service it.
Here is a link for more detailed in formation http://www.mortgageloan.com/the-new-all-in-one-mortgage