What Deephaven Mortgage LLC does

Deephaven Mortgage LLC, founded in 2012 and headquartered in Charlotte, North Carolina, is a non-agency (Non-QM) mortgage lender that operates exclusively through wholesale and correspondent channels. The company serves licensed mortgage professionals - 1,000+ independent mortgage brokers via its Haven wholesale portal and 200+ correspondent lender partners via the Encompass TPO Connect portal - rather than consumers directly. It underwrites alternative documentation loans for borrowers who do not qualify for traditional agency or government-backed mortgages, including self-employed borrowers using bank statements, real estate investors using property cash flow (DSCR), credit-impaired borrowers, ITIN holders, and jumbo loan seekers up to $5 million.

The product suite spans first-lien products (DSCR, Expanded-Prime, Non-Prime, Jumbo-Prime, ITIN, Expanded-Prime Super Jumbo) and second-lien products (Equity Advantage HELOC and Closed-End Second, DSCR Second), supplemented by an Anchor Loans partnership covering fix-and-flip, construction, and bridge lending. Supporting technology centers on LenderPrice-powered pricing and underwriting (Portfolio Underwriter, FlexPricer, Scenario Calculator, Blended Rate Calculator) and a dedicated Bank Statement Analysis tool accessed via AWS Cognito. The Equity Advantage HELOC, launched December 2025 and expanded May 2026 with a doubled $1M line amount and broader state coverage, is the company's flagship growth bet.

Revenue is transaction-fee based: Deephaven earns origination fees and servicing-related economics on wholesale originations and purchases non-QM loans from correspondent partners for subsequent securitization or servicing. Pricing is not publicly disclosed; partners work with regional account executives and a scenario desk for specific pricing. The company is privately held by Pretium, a real estate and mortgage credit-focused investment manager, with no public ticker or external VC disclosed. Leadership includes CEO John Keratsis (ex-Incenter/Blackstone), COO Aaron Drago (ex-Wells Fargo, Guaranteed Rate, TD Bank, Bank of America), CFO Ben Allison (ex-Incenter), and CSO Tom Davis, supported by multiple SVP-level functional leaders.

Name

Deephaven Mortgage LLC

Legal name

Deephaven Mortgage LLC

Website

https://deephavenmortgage.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

101–250 employees

Short description

Deephaven Mortgage LLC is a Charlotte-based Non-QM mortgage lender founded in 2012 that originates alternative-documentation home loans for self-employed borrowers and real estate investors via 1,000+ wholesale brokers and 200+ correspondent lenders nationwide.

Ownership category

akta.pro rank

Product category

Non-QM Residential Mortgage Lending

NAICS

Real Estate Credit (522292), Nondepository Credit Intermediation (5222), Mortgage and Nonmortgage Loan Brokers (522310)

SIC

Mortgage Bankers & Loan Correspondents (6162), Loan Brokers (6163)

akta.pro primary industry

Non-Qualified Mortgage (Non-QM) & Specialty Product Brokers (FSALABAG)

akta.pro secondary industries

Wholesale Mortgage Lending (Broker Channel) (FSALACAA), Mortgage Loan Sales & Aggregation (Correspondent/Conduit Aggregators) (FSALAFAD), Home Equity Loan/HELOC Title, Lien Perfection & Closing Services (FSALAGAI), Hard Money & Private Mortgage Lending Intermediation (FSAEAEAH)

Keywords

• Non-QM mortgage lending
• Wholesale mortgage lending
• Correspondent lending
• DSCR loans
• Home equity lending

Headquarters

HQ city

Charlotte

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Wholesale Mortgage Origination: Deephaven provides non-QM mortgage products to independent mortgage brokers who originate loans on behalf of the company. Revenue generated from loan origination fees and loan servicing rights.
2. Correspondent Loan Purchasing: Deephaven purchases non-agency/Non-QM mortgages from correspondent lender partners, including delegated and non-delegated loans. Revenue generated from loan purchases and subsequent securitization or servicing.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

Deephaven Mortgage LLC is a non-agency (Non-QM) mortgage lender that funds and purchases non-QM residential mortgages through wholesale broker and correspondent lending channels. It offers DSCR investor loans, Expanded-Prime and Non-Prime loans, ITIN mortgages, jumbo and super jumbo products, and home equity second lien products (HELOC and closed-end second). The company does not lend directly to consumers; mortgage brokers and correspondent lender partners originate and submit loans for Deephaven to fund or purchase.

Product overview

Deephaven Mortgage LLC is a non-agency (Non-QM) mortgage lender offering a suite of wholesale and correspondent lending products. The portfolio centers on core loan programs including DSCR (Debt Service Coverage Ratio) loans for real estate investors, Expanded-Prime for near-prime borrowers, Non-Prime for credit-impaired borrowers, ITIN mortgages, jumbo products, and Equity Advantage second lien products (both HELOC and closed-end second). These are delivered through wholesale broker partnerships (1,000+ independent mortgage brokers) and correspondent relationships (200+ lenders). Supporting tools include the Wholesale FlexPricer, Blended Rate Calculator, Scenario Calculator, and Bank Statement Analysis platform. The company operates exclusively for licensed mortgage professionals and does not serve consumers directly.

Differentiator

Problem solved

Functional benefit

Products and services

• DSCR (Debt Service Coverage Ratio) Program A non-QM mortgage program that qualifies real estate investors based on the rental income of the subject property (1-4 units) instead of personal income, employment, or tax documentation. Loan amounts up to $2.5 million, LTV up to 80%, credit scores down to 660.
• Expanded-Prime Program A non-QM loan solution for borrowers who just miss traditional guidelines, available through full documentation, 1-year P&L, or self-employed bank statement qualification. LTVs up to 90% with no MI required, credit scores down to 660, loan amounts up to $3.5 million.
• Non-Prime Program Flexible non-QM solutions for borrowers recovering from recent credit impairments. Credit scores down to 620, LTVs up to 80%, loan amounts up to $2 million.
• Equity Advantage HELOC A stand-alone home equity line of credit (HELOC) that lets borrowers tap into home equity without giving up their existing low-interest-rate first mortgage, with first-lien HELOC options for free-and-clear borrowers.
• Equity Advantage Closed-End Second A stand-alone closed-end second lien mortgage that lets borrowers unlock equity while preserving their low-rate first mortgage. Supports self-employed borrowers with bank statement qualification options.
• DSCR Second Mortgage A second lien product for real estate investors to cash out based on property rental income, enabling portfolio growth without refinancing the first mortgage.
• DSCR 5-9 Unit Multi-family non-QM loan program providing flexibility for business-purpose borrowers on properties with 5-9 units, featuring interest-only options and LLC vesting.
• ITIN Mortgage A home loan product for ITIN card holders who do not have Social Security Numbers, allowing qualification using an Individual Taxpayer Identification Number with loan amounts up to $1.5 million.
• Jumbo-Prime Jumbo loan program with amounts up to $3 million, no PMI required, supporting primary residences, second homes, and investment properties with full documentation.
• Expanded-Prime Super Jumbo Full documentation non-QM loan exceeding standard jumbo limits, with loan amounts from $3.5 million to $5 million, designed for self-employed borrowers qualifying via 1099 or bank statements.
• Anchor Loans Partnership (Fix-and-Flip, Construction, Bridge) A strategic partnership with Anchor Loans that brings business-purpose lending products through Deephaven's wholesale channel, including fix-and-flip financing, ground-up construction loans for builders up to four units, and bridge loans for investment property opportunities.
• Equity Advantage HELOC Expansion (to $1M max line, Texas + 44 states, LLC vesting, co-borrower eligibility) An expansion of the Equity Advantage HELOC product that doubles the maximum line amount to $1 million, adds Texas and additional states to the geography, allows LLC vesting for investment property owners, supports co-borrower eligibility with a minimum 620 credit score, and provides 2.50% lender-paid compensation to partners.

Quantifiable outcome

• Strong customer satisfaction with daily compliments received from broker partners
• +1 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

Four partnerships are on record, tiered supporting and core.

• LoanNEXsupportingTechnology or Integration · 4 November 2022Deephaven launched wholesale and correspondent products on LoanNEX Qualifier platform, extending reach to broker marketplace for loan product access.
• Anchor LoanscoreStrategic or Co-development PartnerStrategic partnership with Anchor Loans providing Fix-and-Flip, Ground Up Construction, and Bridge loan products through Deephaven wholesale channel. Enables originators to offer complete investor lending solutions including RTL and DSCR products.
• Incenter Appraisal ManagementsupportingTechnology or IntegrationPartnership to provide non-QM brokers with competitive edge through appraisal management services integrated with Deephaven's product offerings.
• Lender PricecoreTechnology or IntegrationPortfolio Underwriter technology powered by LenderPrice provides pricing and underwriting platform for correspondent lending operations. Technology not owned by Deephaven; all rights property of LenderPrice.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Newfi Wholesale: Non-QM wholesale and correspondent lender focused on self-employed, investor, and expanded-prime borrowers. Direct competitor in the same broker distribution model and product set as Deephaven.
• Homepoint: Wholesale-focused mortgage lender offering a mix of agency and non-agency products. Competes with Deephaven for broker share and partner mind-share in the wholesale channel.
• Athas Capital Group: Direct private/hard-money and non-QM lender serving brokers and correspondents with DSCR, fix-and-flip, and bridge products. Closely overlaps Deephaven's investor and non-prime product mix.
• Verus Mortgage Capital: Non-QM correspondent and wholesale investor with a similar mix of non-agency products including bank statement and DSCR. Comparable in funding model (securitization-driven) and channel mix to Deephaven.
• Angel Oak Mortgage Solutions: A non-QM wholesale and correspondent lender offering bank statement, DSCR, ITIN, and expanded-prime products. Angel Oak is the most direct competitor to Deephaven in non-QM origination through the broker channel.
• Kiavi (formerly LendingHome): Bridge and fix-and-flip lender competing with Deephaven's Anchor Loans partnership product line for the real estate investor segment.
• NewRez (Shellpoint Mortgage): Top-15 mortgage originator with non-QM (Shellpoint) and wholesale capabilities. Competes directly with Deephaven in non-QM and expanded-prime via wholesale and correspondent channels.

Broad incumbents

• United Wholesale Mortgage: Largest U.S. wholesale mortgage lender. While primarily an agency/QLM lender, UWM has expanded into non-QM-adjacent products and represents the dominant broker-channel competitor any non-QM specialist must win against.
• loanDepot: National mortgage lender with retail, wholesale (ldWholesale), and joint venture channels offering agency and select non-prime products. Relevant as a scale competitor across the broker and correspondent channels where Deephaven operates.

Emerging players

• Anchor Loans: Strategic partner of Deephaven for fix-and-flip, ground-up construction, and bridge products. Operates in adjacent product categories but also represents a potential future channel overlap.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/deephavenmortgage
• LinkedInlinkedin.com/company/3621312
• Instagraminstagram.com/deephavenmortgage

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Deephaven Mortgage LLC