Calyx Software, a California-headquartered provider of comprehensive mortgage software solutions for banks, credit unions, mortgage bankers, wholesale, and correspondent lenders and brokers, announced that all Calyx Point users can now access Deephaven’s non-QM mortgage products, enabling them to serve more borrowers and capitalize on the growing opportunities for non-QM.
This integration furthers Deephaven’s mission to empower mortgage professionals serving borrowers who face challenges securing a traditional government-financed mortgage. As an issuer of non-QM mortgage-backed securities, Deephaven provides non-agency loans to the origination community, offering expanded prime, near-prime, non-prime, bank statement loan, investment property, and interest-only products.
Originators are able to determine fit across Deephaven’s non-QM loan programs and help borrowers that might not qualify for agency programs. 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," said 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," said Bob Dougherty, VP 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."
Calyx Software is an established provider of compliant mortgage software solutions used by banks, credit unions, mortgage lenders, and brokerages nationwide. The company’s technology, including its borrower interview platform, loan origination systems, and secure electronic signature software, is designed to streamline, integrate, and optimize all phases of the loan process for customers of various sizes, workflows, channels, and complexities.
Deephaven is a full-service, multichannel, long-term investor in the non-QM space. The company provides access to financing to millions of underserved clients throughout the U.S. Deephaven was founded in 2012 to help rebuild the non-government mortgage market. At that point, mortgage credit had dramatically tightened in response to the housing crisis and millions of credit-worthy borrowers were still locked out of the mortgage market.