New tech aims to fix appraisal backlogs so brokers can penetrate the non-QM market
Deephaven Mortgage has joined forces with Incenter Appraisal Management to help non-QM brokers cut appraisal turn times from weeks to days.
Through the partnership, Deephaven will provide brokers Incenter’s RemoteVal technology, which enables appraisers to fully manage the appraisal process by allowing them to take control of the property contact’s smartphone camera. They can then direct the homeowner or the property contact where to point the lens as the appraiser remotely snaps geographically verified time-stamped images and closeups.
“With the United States seeing the largest number of unincorporated self-employed individuals in 13 years, brokers can penetrate a new market of credit-worthy borrowers with non-QM loans,” said Deephaven president and CEO John Keratsis. “However, the challenges of appraiser shortages and appraisal backlogs are slowing down lending. We are thrilled to overcome this hurdle with Incenter Appraisal Management’s ground-breaking solution.”
The new tech also features a built-in digital measuring tape, making it easy to get accurate square footage/gross living area (GLA) measurements.
Deephaven recently announced the expansion of its wholesale broker channel. The mortgage company brought in a leader in the non-agency space to help ramp up its non-QM lending business.
Read more: Deephaven taps non-QM sales leader as head of wholesale
“With the increase in demand for these types of loans, the non-agency/non-QM broker’s time is now. We are thrilled to provide the most progressive technology and professional teams so that Deephaven’s network of independent brokers can thrive,” said Mark Walser, president of Incenter Appraisal Management.
