The launch of HNMA Funding is a natural evolution in our parent organization's mission," said Simpser.
Deutsche Bank and HNMA Funding will jointly participate in the purchase, securitization and sale of these mortgages in the secondary market.
In addition to increased liquidity, HNMA Funding also offers its lenders a new, culturally sensitive, automated underwriting platform known as HAUS, which brings accuracy and efficiency to the underwriting of Hispanic and nontraditional loans.
HNMA was created in response to these problems, and looked for the technology to do what Fannie Mae and Freddie Mac were doing for conventional loans.
About two years ago HNMA turned to Overture, which required a leap of faith because Mozart was a brand-new product.
One of the attractions was that Mozart was user-friendly, and HNMA itself could create its own rules, algorithms and policies.