CHARLOTTE, N.C. and PASADENA, Calif. — Non-QM lender Deephaven and Lender Price today announced a strategic alliance that will enable correspondents to offer more non-agency products. The move comes as more lenders approach Deephaven about the non-QM market.
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. Deephaven and Lender Price 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. 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, the Lender Price FLEX non-QM Pricer is customizable, allowing correspondent investors to create their own unique pricing engine for their customers and prospects,” said Dawar Alimi, Founder, CEO and President, Lender Price.
Lender Price’s 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.
“Deephaven is committed to helping our channel partners provide exceptionally responsive service and seize new growth opportunities. Lender Price shares this same philosophy, and their dynamic technology will make that philosophy a reality,” said Shelly Griffin, Senior Vice President, Client Development, Deephaven.
Contact Ms. Griffin at email@example.com.