Mortgage Lender Enhances Non-QM Point of Sale Process


Non-QM lender Deephaven Mortgage has added the Smart Conditions feature set from LoanScorecard to its IDENTI-FI scenario calculator.

The enhancement will deliver customized, loan-specific conditions instantly, based on findings from Deephaven’s IDENTI-FI AUS engine.

Originators use the IDENTI-FI Scenario Calculator to view product and program eligibility scenarios, price loans and obtain detailed AUS findings from directly within the scenario calculator. Now, the Smart Conditions feature will also pull loan-specific details, such as bank names for asset verification and liability repayments and dollar amounts for closing costs and reserves, and auto-populate them into the conditions that the originator sees.

“Our partnership with LoanScorecard has enabled us to continually enhance the non-QM point of sale experience for our originators,” says Mike Brenning, Deephaven’s chief production officer. “Today’s announcement is another example of this collaboration. Most AUS engines generate generic, vague conditions that can be misunderstood or misinterpreted, creating confusion, delays and frustration. The new Smart Conditions feature will instantly show originators precisely and clearly what needs to happen in order to get an accurate review of the loan.”

Photo: Mike Brenning

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