TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/1133509
8 | TH E M R EP O RT MTECH company's exceptional products and deep commitment to automate the mortgage process allows it to maintain its prominent position in an industry undergoing an extensive digital transformation," said Holden Spaht, a Managing Partner at Thoma Bravo. "Our partnership can allow Ellie Mae to accelerate its momentum as it innovates on behalf of lenders and homebuy- ers with the ultimate goal of helping people achieve the American dream of homeowner- ship." Expanding Partnerships LONESCORECARD NOW PROVIDES ITS PORTFOLIO UNDERWRITING TECHNOLOGY TO DEEPHAVEN'S CORRESPONDENT DIVISION TOO. I rvine, California-based LoanScorecard, a provider of nonagency automated under- writing systems has expanded its partner- ship with Deephaven Mortgage to power IDENTI-FI AUS for Deephaven's correspon- dent division. LoanScorecard already powers IDENTI-FI AUS for the mortgage lender's wholesale division. With this expanded partnership, LoanScorecard's Portfolio Underwriter technology will power IDENTI-FI AUS, a non-QM point-of-sale/pre-qualification tool, for Deephaven's correspondent division. IDENTI- FI AUS lets approved correspondent partners run loan scenarios and instantly determine po- tential options across Deephaven's nonagency loan programs—allowing them to expand their potential borrower base. Correspondent lenders can run an AUS findings report on any loan file for a detailed breakdown of Deephaven's qualification crite- ria and documentation requirements through this platform. "We've been using LoanScorecard's technol- ogy for the past six months in our wholesale division and have already seen tremendous success helping LOs at the ever important point of sale," said Mike Brenning, Chief Production Officer at Deephaven. "We're con- fident leveraging LoanScorecard's technology will allow our partners to offer non-QM prod- ucts that can help them responsibly expand their businesses—and ultimately replicate the success we've had in our wholesale division." Deephaven Mortgage provides private-capital liquidity for non-Qualified Mortgage (non-QM) loans. The company partners with correspon- dent lenders who share its vision for rebuild- ing the nongovernment mortgage market while providing common sense-driven underwrit- ing decisions centered around a borrower's ability to repay. Deephaven's products include expanded-prime, near-prime, non-prime, inves- tor advantage, and foreign national. "Taking borrowers through the origination process only to encounter they don't qualify is a reason many correspondent lenders shy away from non-QM products," said Ben Wu, Executive Director at LoanScorecard. "IDENTI-FI AUS empowers correspondent lenders to offer non-QM products by analyz- ing loan data against product guidelines and determining fit within seconds." LoanScorecard provides nonagency AUS, loan pricing solutions and borrower point- of-sale designed to meet today's regulatory challenges and capitalize on current market opportunities. The company helps institutions address CFPB regulations through its QM Findings, a qualified mortgage (QM) engine, which has rendered more than five million QM findings reports to-date and supports banks and credit unions preparing for the upcoming impacts of CECL. Reliant Bank Chooses Subservicer ROUNDPOINT WILL HELP RELIANT BANK SERVICE MORTGAGE LOANS AS IT EXPANDS ITS PRODUCT OFFERINGS. C harlotte, North Carolina-headquartered RoundPoint Mortgage Servicing Corpo- ration (RoundPoint) has been selected by Reliant Bank as a subservicer. RoundPoint services loans for a variety of community banks, credit unions, private equity firms, and mortgage banks and is com- mitted to providing a world-class customer ex- perience to borrowers. Reliant Bank's selection of RoundPoint as its subservicer is confirma- tion of this commitment, the company said in a statement. Jacqueline Weed, VP Operations and Correspondent Lending, with Reliant Bank stated, "We chose RoundPoint Mortgage Servicing because of its best-in-class systems, customer-centric operating model, and robust reporting tools. We look forward to deepening our relationship with RoundPoint as we contin- ue to expand our mortgage product offerings." "Reliant Bank has experienced tremendous growth and success, and we are delighted to have been selected as its subservicing partner. This relationship helps Reliant excel at provid- ing comprehensive mortgage solutions while RoundPoint focuses on what we do best–ex- pertly performing our subservicing respon- sibilities," said Allen Price, SVP of Business Development for RoundPoint. Kevin Brungardt, CEO for RoundPoint, added, "As we continue providing a world- class subservicing execution to publicly-traded institutions, we seek partnerships with like- minded organizations that seek to promote and foster homeownership with innovative solutions. Our relationship with Reliant is a