Defy Mortgage
Defy Mortgage is a Nashville-based direct non-QM mortgage lender offering 75+ alternative-documentation loan products (DSCR, bank statement, P&L, foreign national, asset depletion) to real estate investors, self-employed borrowers, and foreign nationals across 38 U.S. states, distributing through direct-to-consumer and wholesale broker channels.
- Company typePrivate
- Founded2022
- HeadquartersNashville, United States
- Headcount1–10
- GTM typeB2C
- OfferingServices
What Defy Mortgage does
Defy Mortgage is a direct non-qualified mortgage (non-QM) lender headquartered in Nashville, Tennessee, founded in 2022 and publicly launched in January 2023 under NMLS license #2383214. The company originates, underwrites, and funds its own loans in-house, offering 75+ non-QM product variants organized around alternative income documentation methods: DSCR loans (qualifying on rental property cash flow), bank statement loans (12–24 months of deposits), P&L loans (CPA-prepared financials), interest-only options, foreign national loans, asset depletion loans, and non-QM cash-out refinances. Its technology stack centers on proprietary underwriting rulesets tailored to non-traditional borrower profiles, supported by borrower-facing digital tools (purchase, refinance, and DSCR calculators) and SEO-optimized state and product pages. Loan amounts range from $75,000 to $3M+, with closing timelines of 14–21 days, minimum FICO of 640, and LTVs up to 90% depending on product.
The company targets three primary customer segments excluded from conventional agency lending: real estate investors who qualify on rental income rather than personal W-2s; self-employed borrowers, freelancers, and business owners whose tax write-offs reduce conventional qualifying income; and foreign nationals purchasing U.S. property without U.S. credit history or Social Security numbers. Distribution is dual-channel: a direct-to-consumer motion through defymortgage.com with mortgage consultants responding within approximately two hours, plus a wholesale broker channel called Defy TPO (defytpo.com) that distributes products through mortgage brokers. Additional referral pipelines are built through formal partner programs with realtors, financial advisors, and custom builders.
Defy Mortgage generates revenue through origination fees on each closed loan plus interest income spread between origination rates and funding costs. Products are licensed in 38 U.S. states, with full non-QM availability concentrated in Alabama, California, Colorado, Florida, Georgia, Tennessee, and Texas. The company is privately held and bootstrapped — no institutional funding rounds, parent company, or public ticker are disclosed. Leadership includes Co-Founder & CEO Todd Orlando (25+ years in non-QM and investment property lending), COO Michael Rogan (appointed February 2023), and General Legal Counsel Grover Collins. The firm operates with 1–10 employees and reports leadership team combined industry experience exceeding 100 years.
Defy Mortgage firmographics
Firmographics- Name
- Defy Mortgage
- Legal name
- Defy Mortgage, LLC
- Website
- https://defymortgage.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Defy Mortgage is a Nashville-based direct non-QM mortgage lender offering 75+ alternative-documentation loan products (DSCR, bank statement, P&L, foreign national, asset depletion) to real estate investors, self-employed borrowers, and foreign nationals across 38 U.S. states, distributing through direct-to-consumer and wholesale broker channels.
- Ownership category
- akta.pro rank
Defy Mortgage industry classification
Industry- Product category
- Non-QM Mortgage Lending
- NAICS
- Real Estate Credit (522292), Nondepository Credit Intermediation (5222)
- SIC
- Mortgage Bankers & Loan Correspondents (6162)
- akta.pro primary industry
- Non-Agency (Jumbo/Non-QM) Mortgage Servicing (FSALAEAB)
- akta.pro secondary industries
- Cash-Out Refinance Origination (FSALAAAF), Personal Loan Refinance (Rate/Term) (FSAKAIAB), Balance-Sheet / Portfolio CRE Lending (FSALADAG)
Keywords
Where Defy Mortgage is headquartered
LocationHeadquarters
- HQ city
- Nashville
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Defy Mortgage business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Mortgage Origination Fees: Defy Mortgage originates and funds its own non-QM loans, earning origination fees on each closed loan. As a direct lender, they bypass broker/correspondent channels to retain full margin on originated loans.
- Interest Income: Revenue generated from the spread between origination rates and funding costs on held or sold mortgage loans.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | DSCR Loan - 740 FICO, 75% LTV, 1.0+ DSCR, Single Family Purchase |
| Other | Pay-as-you-go | Bank Statement Loan - 740 FICO, 75% LTV |
| Other | Pay-as-you-go | P&L Loan - 740 FICO, 75% LTV |
| Other | Pay-as-you-go | Asset Depletion Loan - 740 FICO, 75% LTV |
| Other | Pay-as-you-go | Foreign National DSCR - 740 FICO, 70% LTV |
| Other | Pay-as-you-go | Interest-Only Option (all products) |
| Other | Pay-as-you-go | Down Payment Requirements |
| Other | Pay-as-you-go | Minimum Loan Amounts |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels7 records
Defy Mortgage product offering
Product offeringCore offering
Defy Mortgage is a direct Non-QM (non-qualified mortgage) lender that originates, underwrites, and funds its own mortgage loans for borrowers who cannot qualify under conventional guidelines. The company specializes in alternative income documentation products including DSCR loans, bank statement loans, P&L loans, asset depletion loans, interest-only options, foreign national loans, and non-QM cash-out refinances. It serves real estate investors, self-employed borrowers, and foreign nationals across 38 U.S. states, with a wholesale broker channel called Defy TPO.
Product overview
Defy Mortgage is a direct Non-QM (non-qualified mortgage) lender offering 75+ loan products across multiple specialized programs. The core product suite is organized around alternative income documentation methods: DSCR Loans (qualifying on rental income), Bank Statement Loans (qualifying on 12–24 months of bank deposits), P&L Loans (qualifying on CPA-prepared profit and loss statements), Interest-Only Options (flexible payment structures), Foreign National Loans (for non-US citizens), Asset Depletion Loans (qualifying on liquid assets), and Non-QM Cash-Out Refinance (accessing equity via alternative documentation). These are complemented by digital tools including Purchase, Refinance, and DSCR Calculators, and supported through a wholesale channel called Defy TPO for mortgage brokers. The company operates as a direct lender, originating and funding loans in-house across more than 30 states.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- Close loans in 14-21 days (vs. conventional 30-45+ day timelines)
- +5 more outcomes
Companies that use Defy Mortgage
Customer profileNamed customers8 records
Segments4 records
Ideal customer profiles5 records
Defy Mortgage technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Defy Mortgage partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- Mortgage Brokers (via Defy TPO)coreDefy TPO is Defy Mortgage's wholesale channel serving mortgage brokers who want access to flexible non-QM loan products including DSCR, bank statement, and equity programs. Brokers can submit scenarios for custom solutions that work over the long term.
- RealtorscoreRealtor partners program providing mortgage financing options for real estate professionals' clients who need non-QM lending solutions for complex income situations.
- Financial AdvisorscorePartnership program for financial advisors to refer clients with complex income situations who need alternative mortgage financing options.
- Custom BuildersminorPartnership program for custom home builders whose clients may need non-traditional financing for construction or purchase.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
Defy Mortgage competitors and assessment
Company assessmentDirect peers
- Angel Oak Mortgage Solutions: Direct non-QM lender offering DSCR, bank statement, and alternative-income mortgage products to real estate investors and self-employed borrowers — directly overlapping Defy's core product set and borrower segments.
- Newfi (Newfi Wholesale / Newfi Direct): Non-QM mortgage lender providing DSCR, bank statement, and investor loan programs through both direct and wholesale channels — mirrors Defy's dual-channel non-QM model.
- Deephaven Mortgage: Non-QM residential and investor-focused lender specializing in DSCR, bank statement, and alternative-documentation loans for real estate investors and self-employed borrowers.
- Visio Financial Services: Direct non-QM lender offering DSCR loans and alternative-documentation programs to real estate investors — directly competes for the same investor-borrower segment as Defy.
- A&D Mortgage: Non-QM mortgage lender with strong wholesale and direct channels across DSCR, bank statement, and alternative documentation — comparable mix of TPO and retail distribution.
Broad incumbents
- Carrington Mortgage Services: Established multi-channel lender with a sizable non-QM division serving investors and self-employed borrowers; broader retail/servicing footprint gives scale advantages over Defy.
- loanDepot Wholesale (formerly Lima One Capital): Large wholesale non-QM and DSCR investor lender; offers similar product suite via the broker channel and competes head-on with Defy TPO.
- Verus Mortgage Capital: Non-QM and investor loan mortgage investment and origination platform with deep DSCR/alternative-doc capabilities — adjacent competitor and potential capital partner.
Emerging players
- CoreVest Finance (now part of Redwood): Lending platform focused on residential real estate investors with DSCR-based products — comparable single-family-rental investor borrower profile as Defy's DSCR book.
- Kiavi (formerly Patch of Land): Tech-enabled lender to real estate investors using property-level underwriting including DSCR — adjacent alternative-doc investor lending model.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Defy Mortgage social profiles
Digital presenceDefy Mortgage financial estimates
Financial estimateRevenue estimate
Valuation estimate
Defy Mortgage leadership team
Management profileNumber of profiles
Profiles3 records
Defy Mortgage funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Defy Mortgage M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Defy Mortgage
What does Defy Mortgage do?
Defy Mortgage is a direct Non-QM (non-qualified mortgage) lender that originates, underwrites, and funds its own mortgage loans for borrowers who cannot qualify under conventional guidelines. The company specializes in alternative income documentation products including DSCR loans, bank statement loans, P&L loans, asset depletion loans, interest-only options, foreign national loans, and non-QM cash-out refinances. It serves real estate investors, self-employed borrowers, and foreign nationals across 38 U.S. states, with a wholesale broker channel called Defy TPO.
Is Defy Mortgage a public or private company?
Defy Mortgage is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Defy Mortgage founded?
Defy Mortgage was founded in 2022. It employs 1 to 10 people.
Where is Defy Mortgage based?
Defy Mortgage is headquartered in Nashville, United States, in the North America region.
How does Defy Mortgage make money?
Two revenue lines are on record. Mortgage Origination Fees are the primary driver. The others are interest Income.
Who are Defy Mortgage's main competitors?
Direct peers on record are Angel Oak Mortgage Solutions, Newfi (Newfi Wholesale / Newfi Direct), Deephaven Mortgage, Visio Financial Services and A&D Mortgage. Broad incumbents are Carrington Mortgage Services, loanDepot Wholesale (formerly Lima One Capital) and Verus Mortgage Capital. Emerging players are CoreVest Finance (now part of Redwood) and Kiavi (formerly Patch of Land).
Does Defy Mortgage have an API?
No public API is recorded for Defy Mortgage.
What industry is Defy Mortgage in?
Defy Mortgage's product category is Non-QM Mortgage Lending. Its primary akta.pro industry code is FSALAEAB, Non-Agency (Jumbo/Non-QM) Mortgage Servicing, with a secondary code of FSALAAAF, Cash-Out Refinance Origination. Its NAICS code is 522292 and its SIC code is 6162.