Deephaven Mortgage announced a partnership with one of the nation’s fastest-growing appraisal management companies, Class Appraisal, the companies announced in a release.
“With this strategic partnership and the industry-leading experience that Class Appraisal provides the mortgage broker community, we are continuing our commitment to meet the growing needs of the mortgage broker and their clients, linking our products and technology in non-QM (loans) with a best-in-class AMC experience via Class Appraisal,” Deephaven Chief Production Officer Mike Brenning said in the release. “We believe that our broker partners and their borrowers deserve nothing but the best. This partnership allows Deephaven to communicate with a dedicated team of appraisal management associates at Class Appraisal that has an outstanding and compliant communication protocol, so that our broker partners can get appraisal results delivered on time.”
Class Appraisal’s Jonathan Tallinger, the company’s chief growth officer, expressed his excitement about the partnership and how such a merger enhances the businesses.
“We understand that each new business relationship has a unique set of needs and requirements, and we look forward to partnering with Deephaven to fulfill those needs,” Tallinger said. “We have over 12,000 appraiser partners in all 50 states and are dedicated to going above and beyond by using all our resources and tools. We are excited to help Deephaven grow their business to even greater heights.”
According to the release, Deephaven aims to be the premier provider of private-capital liquidity for non-QM residential mortgage loans. These loans are available to the millions of borrowers who are unable to obtain a traditional government financed mortgage.
“Providing top-notch service, technology, and partnerships, such as Class Appraisal, helps us achieve those goals and is a key to our success,” Deephaven said. “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. The private-equity provider has purchased more than $2 billion of non-QM loans from partners since that time.