Deephaven Announces New Asset Use Options to Increase Partner Out-of-Branch Lending Opportunities


CHARLOTTE, North Carolina – (COMMERCIAL THREAD) – Non-agency lender Deephaven today announced new progressive income qualifying options to allow brokers and correspondents to compete to attract more creditworthy borrowers who are excluded from agency mortgages.

The company’s new asset usage calculations determine qualifying income based on a wide range of assets, including personally owned stocks, bonds, mutual funds, amounts acquired from retirement accounts and funds. personal bank accounts.

“These options give loan officers the opportunity to fill an important market gap by providing sensible solutions to a borrower’s challenges. For example, if borrowers have enough assets to meet down payment and reserve requirements, pay 60 months of monthly debt repayment, and pay off that mortgage, they are likely to be deserving customers. In this competitive market, Deephaven strengthens each partner’s ability to capture their business before others, ”said Shelly Griffin, Senior Vice President of Client Development.

Deephaven offers two alternatives to help mortgage brokers and correspondent lenders quickly seize this opportunity, including:

  • Calculation of total assets—The company will offer mortgages to borrowers whose assets cover the new loan amount, down payment, closing costs, reserve requirements and five years of outstanding monthly obligations. It is not necessary to disclose their employment or total income on a Form 1003.
  • Calculating the debt ratio—A minimum of borrowers must have the lesser of (a) 1.5 times the loan balance or (b) $ 1 million of qualifying assets, both of which must be net of down payment, closing costs, and reserve requirements. Monthly income is calculated by dividing qualifying net assets by 84 months.

This asset use approach is only offered as part of Deephaven’s Expanded-Prime program and is not available for withdrawal transactions. If any part of the assets will be used for the down payment, closing costs or reserves, Deephaven will exclude them from the balance before analyzing the entire portfolio.

For more information, please contact Shelly Griffin at [email protected]

About Deephaven

Deephaven is a full-service, multi-channel long-term credit provider in the non-QM space, providing access to finance to millions of underserved customers across the United States. Deephaven was founded in 2012 and has led the reconstruction of the non-government mortgage market. . Please visit for additional information.

Deephaven Mortgage® LLC. All rights reserved. This material is intended only for the use of licensed mortgage professionals. Distribution to consumers is strictly prohibited. The program and prices are subject to change without notice. Not available in all states. Terms subject to qualification. NMLS # 958425

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