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Eye on the Industry: Deephaven Partners to Improve Non-QM

 

LoanScorecard and Deephaven Mortgage announced that they have added the Smart Conditions feature to Deephaven’s 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,” said 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.”

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loanDepot Wholesale has announced announce that Mark Hammond has joined as Regional Sales Manager for the South Region, which includes Alabama, Florida, Georgia, Louisiana, North Carolina, Oklahoma, South Carolina, Tennessee, and Texas.

Hammond brings nearly 30 years of financial services and mortgage industry experience, strategic vision, and leadership to this role. He started his mortgage banking career in Capital Markets and currently works in field sales where he is known as a top producer and subject matter expert.

“Mark has a long history of helping salespeople and clients achieve greater productivity and long-term success. He brings a depth of experience that we are excited to have here at loanDepot Wholesale and look forward to watching him grow the South Region,” said Jack O’Brien, VP Eastern Divisional Manager.

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CoreLogic, a property information, analytics, and data-enabled services provider, announced the integration of its Instant Merge consumer credit report within Floify. This move allows Floify customers to automatically access credit report data, helping to expedite the decision-making process and close loans faster.

For more than 30 years, the Instant Merge credit report has been the most widely used merged credit report in the mortgage industry—providing the highest quality data, customer service, technology, and breadth of integrations. The direct integration of Floify’s point-of-sale technology allows clients to quickly and easily get validated applicant credit information and easily import the data into the Floify digital 1003.  

“Our relationship with CoreLogic has allowed us to develop an integration that further streamlines the processing of credit reports, resulting in a smoother loan origination process for our mutual customers,” said Dave Sims, CEO of Floify. "We are fortunate to be working with CoreLogic as our companies strive to centralize mortgage document collection and improve the homebuying process for both lenders and borrowers.

 

About Author: Mike Albanese

A graduate of the University of Alabama, Mike Albanese has worked for news publications since 2011 in Texas and Colorado. He has built a portfolio of more than 1,000 articles, covering city government, police and crime, business, sports, and is experienced in crafting engaging features and enterprise pieces. He spent time as the sports editor for the "Pilot Point Post-Signal," and has covered the DFW Metroplex for several years. He has also assisted with sports coverage and editing duties with the "Dallas Morning News" and "Denton Record-Chronicle" over the past several years.
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