Deephaven, Lender Price Team To Promote Non-QM Loans – NMP Skip to main content

Deephaven, Lender Price Team To Promote Non-QM Loans

David Krechevsky
Nov 10, 2021
Deephaven New Logo

Partnership to Leverage Lender Price’s mortgage pricing & underwriting engine with Deephaven’s non-agency products.

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

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

The partnership — leveraging Lender Price’s suite of pricing and scenario engines and Deephaven’s flexible financing solutions — will make it easier for loan officers to serve credit-worthy homebuyers who don’t qualify for a traditional agency mortgage. These range from the self-employed to high-net-worth borrowers who are not working full-time.

Deephaven has been innovating new expanded-prime, non-prime, and DSCR products, and needed a better way to empower correspondents to sell them using its pre-existing Quick Pre-Qualifier and pricing tools, it said. Deephaven and Lender Price said they collaborated to make the technology even easier to use so clients could meet market demand.

“To remain competitive, innovative lenders like Deephaven want to offer non-agency loan products using a pricing engine that drives rapid innovation for their product offerings,” said Dawar Alimi, founder, CEO and President of Lender Price. “Lender Price leverages a ‘no-rules’ rules engine powered by natural language processing (NLP) which allows correspondent investors to create loan-level price adjustment and eligibility rules on the fly.”

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

Lender Price said its software makes it simple for Deephaven to update its product and pricing information without custom development. Correspondents, in turn, will be able to quickly share the latest pricing with their loan officers, building in their margins, all online, it 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 client development for Deephaven. “Lender Price shares this same philosophy, and their dynamic technology will make that philosophy a reality.”

Founded in 2012 in Charlotte, N.C., 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 throughout the U.S.

Lender Price is a California-based big data technology innovator and developer of digital mortgage lending technology, including the Digital Lending point-of-sale (POS) tool and an advanced product pricing & eligibility (PPE) engine.

Published
Nov 10, 2021
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