Non-QM loans are becoming a powerful weapon in a mortgage broker’s arsenal of product offerings, helping them to meet the unique needs creditworthy home buyers who are self-employed or just don’t quite fit the conventional credit box.
That’s why Calyx Software has enabled users of its popular Calyx Point loan origination system to directly access Deephaven Mortgage’s non-QM mortgage products.
This integration, Calyx says in a release, will enable originators using its platform to serve more borrowers and capitalize on the growing opportunities for non-QM.
Originators will be able to instantly determine fit across Deephaven’s non-QM loan programs and help borrowers that might not qualify for agency programs.
What’s more, originators can run Deephaven’s IDENTI-FI AUS Findings Report on any loan file in Point without having to import/export a 1003 or credit information.
Originators do not have to be preapproved with Deephaven to see a detailed breakdown of the qualification criteria applied, along with documentation requirements.
“At Deephaven, our mission is to rebuild the non-agency mortgage market by providing common sense-driven underwriting decisions centered around a borrower’s ability to repay,” says Mike Brenning, chief production officer at Deephaven. “Our integration with Point will allow us to help even more originators reach underserved, yet credit-worthy borrowers and confidently originate non-QM products.”
“More and more of our origination customers are looking to take advantage of the growing non-QM market,” adds Bob Dougherty, vice president of business development at Calyx Software. “By integrating with Deephaven, a leader in non-QM lending, our customers will have access to even more loan options to responsibly expand their businesses.”