FinTechMortgageReal Estate

Deephaven Mortgage launches new non-QM tool with LoanScorecard

The new tech will smooth out the origination and qualification processes for non-QMs

Deephaven Mortgage is launching a non-qualified-mortgage point-of-sale/pre-qualification tool called IDENTI-FI AUS to simplify the origination and qualification processes for Non-QMs.

“When we first engaged with Deephaven, it was clear that our goals in the non-QM lending space aligned,” LoanScorecard’s Executive Director Ben Wu said in a statement.

“Deephaven is looking to deploy capital to capture more of the growing non-QM market. IDENTI-FI AUS furthers this goal by making technology directly available to originators at their point of sale, to help them pre-qualify borrowers in real-time,” he added.

The new platform will use LoanScorecard’s automated underwriting technology to power its offerings.

IDENTI-FI AUS analyzes 1003 forms and credit reports to instantly determine potential option across Deephaven’s non-agency loan programs. Deephaven hopes this new tech will empower originators at the point of sale.

Now is a good time to be an originator in the Non-QM as Non-QM lending has been enjoying a big uptick in popularity this year, more than doubling production this year, according to LoanScorecard’s statement.

“As a leader in the non-QM space, Deephaven embraces innovation that enables us to offer new products through technology that empowers originators for this underserved market,” Deephaven Chief Production Officer Mike Brenning said in a statement.

“LoanScorecard fits perfectly with this approach. We are excited about using their technology to empower originators to diversify into new markets, especially those doing non-QM production for the first time,” he added.

 

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