Pretium, an investment management firm that already owns one of the nation’s largest single-family rental operators and buys non-performing loans from Fannie Mae and Freddie Mac by the truckload, is now in the non-Qualified Mortgage lending business after acquiring Deephaven Mortgage.

Pretium announced this week that it completed its previously announced acquisition of Deephaven, a mortgage company that specializes in non-QM lending, from Värde Partners.

Värde Partners acquired Deephaven back in 2014, and helped the company grow its non-QM lending business significantly over the last few years. According to the companies, over the last five years, Deephaven has invested in more than $4 billion in non-QM loans to become “one of the leading issuers” of non-QM securitizations.

But now, Värde has sold Deephaven to Pretium, which bills itself as the “largest private single-family rental owner and operator in the U.S.” and has more than 32,000 single-family rental homes in its portfolio. Pretium owns and operates Progress Residential, which manages its portfolio of single-family rentals.

“We are excited to be acquiring one of the most established leaders in the Non-QM market and we expect the business to benefit from working closely with Pretium’s existing single-family rental and mortgage credit businesses,” Donald Mullen, founder and CEO of Pretium, said earlier this year when the deal was first announced. “Deephaven is a synergistic, natural extension of Pretium’s existing strategies in single-family rentals and mortgage credit, within our residential credit ecosystem.”

Deephaven Founder and CEO Matt Nichols said that joining Pretium will allow the company continue growing.

“Deephaven was founded to serve the millions of credit worthy borrowers, who would otherwise have been excluded from the mortgage market. We are grateful for Värde’s partnership in helping us build and establish a leadership position in the non-QM market,” Nichols said earlier this year.

“We are excited to join Pretium, continuing a tradition of partnering with organizations that share our vision for the mortgage market and commitment to responsible lending,” Nichols added. “We look forward to our partnership and the opportunity it will afford us to continue our leadership position in the high-growth non-QM market.”

Financial terms of the deal were not disclosed.