DeepHaven Mortgage Unable to Continue Normal Business

Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
Jan 14, 2011
2,111
182
63
San Diego, California
www.loansreduced.com
DeepHaven Mortgage, a very large mortgage investor in the non-QM space has announced they are no longer able to continue operating due to market volatility until further notice. This is an investor we would use often for our Bank Statement, No Income and niche products that don't fit within the regular conforming or government realm.

Loans funded have also not been purchased back by DeepHaven causing the originating lender to fund the loans on their own warehouse line of credit. Covid-19 has and will continue to impact the mortgage industry. Guidelines are changing daily for all products, including Fannie, Freddie, FHA and other traditional products as well. We saw this occur back in 2008 and this seems to be a repeat.

Recession is at this point almost imminent, people are losing their jobs, inability to pay mortgages is next which will result in many foreclosures, short sales...etc. During these hard times please find peace and pray that we're able to pull out of this sooner than later. The faster we get out of this, the faster we can recover.

Any questions as usual, please reach out to us at 800-779-4547 or [email protected]