Like many players in the non-Qualified Mortgage space, Deephaven Mortgage was forced to halt operations in 2020 when liquidity dried up. That was then, this is now.

Deephaven is now set to issue a $146.2 million security backed by non-QM mortgages that have seasoned for an average of nine months, a presale report from S&P Global Ratings showed. This represents the first such issuance since June for the non-QM specialist.

S&P data showed about 30% of borrowers in the pool have received some sort of forbearance, although some have since received full modification. Although this issuance is much details ⇒

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