Deephaven, Lender Price Team to promote non-QM loans – NMP

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Non-QM lenders Deephaven and Lender Price have announced a strategic alliance that will allow correspondents to offer more non-agency products, the companies said on Wednesday.

The move comes as more lenders approach Deephaven of the non-QM market, the company said.

The partnership – leveraging Lender Price’s suite of pricing engines and scenarios and Deephaven’s flexible financing solutions – will make it easier for loan officers to serve creditworthy homebuyers who are not eligible for a mortgage. traditional agency. These range from self-employed to high net worth borrowers who do not work full time.

Deephaven broke new ground with new extended premium, non-prime and DSCR products, and needed a better way to enable correspondents to sell them using its pre-existing rapid prequalification and pricing tools, a- he declared. Deephaven and Lender Price said they have worked together to make the technology even easier to use so customers can meet market demand.

“To stay competitive, innovative lenders like Deephaven want to deliver off-branch lending products using a pricing engine that promotes rapid innovation for their product offerings,” said Dawar Alimi, Founder, CEO and President of Lender Price. Lender Price is powered by a ‘ruleless’ rules engine powered by natural language processing (NLP) that allows correspondent investors to create on-the-fly pricing and eligibility rules at the loan level . “

Additionally, Alimi said, the non-QM Pricer Lender Price FLEX is customizable, “allowing correspondent investors to create their own unique pricing engine for their customers and prospects.”

Lender Price said its software allows Deephaven to easily update its product and price information without custom development. Correspondents, in turn, will be able to quickly share the latest prices with their loan officers, thus boosting their margins, all online, he said.

“Deephaven is committed to helping our channel partners provide exceptionally responsive service and seize new growth opportunities,” said Shelly Griffin, senior vice president of customer development for Deephaven. “Lender Price shares this same philosophy, and their dynamic technology will make that philosophy a reality.”

Founded in 2012 in Charlotte, NC, Deephaven is a full-service, multi-channel long-term credit provider in the non-QM space, providing access to financing to millions of underserved customers across the United States.

Lender Price is a California-based big data technology innovator and developer of digital mortgage technology, including the digital lending point of sale (POS) tool and advanced pricing and eligibility engine (EPP). ) some products.

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