Partnership to Leverage Lender Price’s Mortgage Pricing and Underwriting Engine and Deephaven’s Innovative and Flexible Non-Agency Products

CHARLOTTE, N.C. and PASADENA, Calif. — November 10, 2021 — Non-QM lender Deephaven and Lender Price today announced a strategic alliance that will enable correspondents to offer more non-agency products. The move comes as more lenders approach Deephaven about the non-QM market.

The partnership--leveraging Lender Price’s suite of pricing and scenario engines and Deephaven’s flexible financing solutions—will make it easier for loan officers to serve credit-worthy homebuyers who don’t qualify for a traditional agency mortgage. These range from the self-employed to high-net-worth borrowers who are not working full-time.

Deephaven has been innovating new expanded-prime, non-prime and DSCR products, and needed a better way to empower correspondents to sell them using its pre-existing Quick Pre-Qualifierand pricing tools. Deephaven and Lender Price collaborated to make the technology even easier to use so clients could meet market demand.

“To remain competitive, innovative lenders like Deephaven want to offer non-agency loan products using a pricing engine that drives rapid innovation for their product offerings. Lender Price leverages a no-rules rules engine powered by natural language processing (NLP) which allows correspondent investors to create loan-level price adjustment and eligibility rules on the fly. In addition, the Lender Price FLEX non-QM Pricer is customizable, allowing correspondent investors to create their own unique pricing engine for their customers and prospects,” said Dawar Alimi, Founder, CEO and President, Lender Price. 

Lender Price’s software makes it simple for Deephaven to update its product and pricing information without custom development. Correspondents, in turn, will be able to quickly share the latest pricing with their loan officers, building in their margins, all online.

“Deephaven is committed to helping our channel partners provide exceptionally responsive service and seize new growth opportunities. Lender Price shares this same philosophy, and their dynamic technology will make that philosophy a reality,” said Shelly Griffin, Senior Vice President, Client Development, Deephaven.

About Deephaven

Deephaven is a full service, multi-channel, long-term credit provider in the non-QM space, providing access to financing to millions of underserved customers throughout the U.S. Deephaven was founded in 2012 and led the rebuilding of the non-government mortgage market. Please visit www.deephavenmortgage.com for additional information.

About Lender Price

Lender Price is a California-based big data technology innovator and developer of digital mortgage lending technology, including the Digital Lending point-of-sale (POS) tool and an advanced product pricing & eligibility (PPE) engine. Lender Price provides all types of mortgage lending institutions – wholesale and correspondent lenders, banks, credit unions and mortgage brokers – with advanced technology designed to eliminate friction, increase transparency, and effectively engage with borrowers.  More information about Lender Price and Marketplace can be found at: www.lenderprice.com and https://lenderprice.com/marketplace/.  

Read more...

Brian Hughes, current CEO of the industry-leading title insurance provider, to retire November 19

DETROIT, November 10, 2021 – Amrock, the nation’s largest provider of its kind, offering title insurance, property valuations and settlement services – and a part of Rocket Companies (NYSE: RKT) – today announced the upcoming retirement of Brian Hughes, the company’s Chief Executive Officer. Nicole Beattie, who currently serves as Executive Vice President of Mortgage Servicing for Amrock sister company Rocket Mortgage, will assume the role of Amrock CEO beginning November 19, 2021.

“I would like to congratulate Brian on Amrock’s success. His leadership has solidified the company’s position at the top of the industry and paved a clear path of innovation for years to come,” said Beattie. “I’m excited to build on the company’s momentum, continuing to create technology solutions that improve the mortgage closing experience for our lender partners and the clients they serve.”

Beattie will step into the CEO role after nearly 18 years with Rocket Companies, the last four of which have been spent leading Rocket Mortgage’s servicing team – managing a portfolio of more than half a trillion dollars in home loans, as of the end of October. 

Her leadership has been instrumental in helping Rocket Mortgage clients navigate the challenges of the COVID-19 pandemic, as the company took an extremely proactive approach toward helping those impacted. As the pandemic began to affect homeowners, Beattie’s mortgage servicing team released a proprietary technology system to quickly assist them. While many lenders were experiencing several-hour wait times, Rocket Mortgage clients were able to log into an online portal containing educational resources and an automated solution to apply for a forbearance plan. The net result of Rocket Mortgage’s use of innovative technology, trusted expert advice and proactive outreach is a forbearance rate that has been significantly lower than the industry average.

Rocket Mortgage has been ranked the nation’s top mortgage servicer for client satisfaction by J.D. Power the past eight years. The accolade is a direct result of feedback from Rocket Mortgage clients. The true proof of how clients feel is the company’s industry-leading 90-plus percent retention rate, as of the third quarter, showing that clients appreciate the service they receive so much that they return to the company for their next home loan. 

In addition to Beattie’s work improving homeowners’ experience, she has tremendously impacted those on her team. She lives by her servicing team’s motto of “love your team members and love your clients" by leading with empathy and passion for the company’s award-winning culture.

Beattie’s experience and achievements in the housing industry will have a direct, positive impact on Amrock clients as she applies these elements to advance the company’s team member experience, business strategy and digital transformation agenda. 

Hughes is retiring after more than 21 years at Amrock, with a total of 30 years devoted to the title, appraisal and settlement services industry. Throughout his time with Amrock, he has been instrumental in enacting change and spearheading company growth through a variety of leadership positions. He led Amrock’s integration of digital mortgage closings and advocated for adoption throughout the country. In fact, in the third quarter, Amrock reached the milestone of completing the company’s one millionth eClosing.

“In my time at Amrock, I’ve had the honor of challenging the housing industry’s status quo and positively impacting client experience, making the home buying journey easier to navigate,” said Hughes. “I know the company is in good hands with Nicole. Her leadership has brought innovation to mortgage servicing that many didn’t think possible. I look forward to seeing the strides that will be made in home valuation and mortgage closing under her direction.”

Beattie and Hughes will work together to ensure a smooth transition leading up to Hughes’ retirement. 

Once Beattie assumes the role of CEO at Amrock, LaQuanda Sain will lead Rocket Mortgage’s servicing team. Sain has been with Rocket Mortgage since 2013, currently serving as Executive Vice President of Mortgage Retention.

#  #  #

About Amrock

Amrock is the leading national provider of title insurance, property valuations and settlement services. The company delivers FinTech solutions to streamline the real estate and mortgage experience for lenders, consumers and real estate professionals. Amrock is a preferred provider to top retail mortgage lenders, with a wide range of clients throughout the residential and commercial real estate finance industries. Driven by thousands of professional partners and team members nationwide, Amrock is headquartered in the heart of downtown Detroit, Michigan with regional service centers in California, Pennsylvania and Texas and additional locations in several other states. For more information, please visit Amrock.com.

About Rocket Companies

Rocket Companies is a Detroit-based holding company consisting of personal finance and consumer technology brands including Rocket Mortgage, Rocket Homes, Rocket Loans, Rocket Auto, Rock Central, Amrock, Core Digital Media, Rock Connections, Lendesk and Edison Financial. Since 1985, Rocket Companies has been obsessed with helping its clients achieve the American dream of home ownership and financial freedom. Rocket Companies offers an industry-leading client experience powered by our simple, fast and trusted digital solutions. Rocket Companies has approximately 26,000 team members across the United States and Canada. Rocket Companies ranked #5 on Fortune’s list of the “100 Best Companies to Work For” in 2021 and has placed in the top third of the list for 18 consecutive years. For more information, please visit our Corporate Website, Investor Relations Website, Twitter page, and our LinkedIn page.

Read more...

Users now have access to insight gleaned from MortgageHippo’s Point-of-Sale Platform.

CHICAGO—November 8, 2021—MortgageHippo, a consumer-centric, no-code/low-code digital lending platform, announced today the release of  new data capabilities, including embedded data analytics dashboards and reporting to make it easier for lenders to glean insights from their data. The move is part of a larger data project through which MortgageHippo will significantly expand its user’s BI capabilities.

“We launched the project initially for our own analysis,” said MortgageHippo Chief Technology Officer Andrew Dailey. “We wanted to know how our clients were doing, and what we could do to help them become more effective and profitable. We quickly realized that these insights would be highly valuable to our lender customers and so we developed the new dashboard and reports to give them access to the data lake.”

All data has been anonymized and contains no borrower personal identifying information. Even so, the new functionality offers significant benefits to lenders who work with MortgageHippo, including the ability to benchmark their performance across their peer group.

Many of the company’s larger clients already have their own data warehouses and have expressed interest in merging their MortgageHippo lending data with data from their CRM, LOS or other core banking systems. MortgageHippo’s data project was designed to allow them to pipe out their data for these purposes.

“Because our platform is used by lenders to originate many different types of mortgage products, we have a wealth of data flowing through our platform,” said Valentin Saportas, CEO at MortgageHippo. “By analyzing this data, lenders will be better prepared to use our flexible platform to deliver highly tailored constituent-centered user experiences for both their borrowers and loan officers. I’m very pleased we can now offer it to them.”

To see a demo of the new functionality and discuss ways you can use these tools to be a more competitive lender, reach out to the company today.

About MortgageHippo

MortgageHippo is a leading, consumer-centric digital lending platform processing thousands of loan applications totaling billions of dollars every month. The platform is used by hundreds of lenders ranging from IMBs to Banks and Credit Unions. The company’s platform is the only modern, Point-of-Sale solution available in the market that enables lenders to very quickly and cost-effectively customize workflows, business rules, UI, data flows between systems and many other aspects of the platform through its easy-to-use, no-code/low-code editors. To learn more, please visithttps://www.mortgagehippo.com.

 

Read more...