Deephaven Mortgage
Deephaven has the answers.
VP of Product
Location
North Carolina
Posted
98 days ago
Salary
$120K / year
Bachelor Degree8 yrs expEnglish
Job Description
• Lead the strategic development of new Non-QM loan products and enhancements based on capital markets direction, investor appetite, and competitive research.
• Evaluate opportunities for expanding into new segments (e.g., Business Purpose Lending, DSCR, HELOC, bank statement enhancements, portfolio products).
• Interpret investor criteria, market trends, and execution outcomes to design profitable, scalable product features.
• Collaborate with Pricing & Secondary to ensure appropriate rate sheets, LLPAs, eligibility matrices, and guides support optimal market competitiveness and loan sale execution.
• Collaborate with Credit / Underwriting on product governance process, including version control, guide updates, approval routing, and stakeholder communication.
• Maintain alignment with risk, compliance, legal, and underwriting to manage overlays, exceptions, and emerging risks.
• Manage investor feedback loops and incorporate performance learnings into product updates as well as communication of product enhancements to various partners.
• Partner closely with Secondary & Capital Markets to understand securitization performance, loan sale execution, and investor appetite.
• Analyze pricing impacts, credit risk distribution, and pool performance to optimize product structures.
• Serve as the product SME for Sales, Underwriting, Training, Ops, and Marketing.
• Work with Marketing to build competitive product collateral, AE-facing materials, and market-facing content.
• Deliver product training sessions for internal teams, clients, investors, and industry partners.
• Maintain a robust understanding of the Non-QM & other relevant products competitive landscape, including guideline changes, overlays, price movements, and emerging program trends.
• Conduct ongoing benchmarking of product guidelines against peers and investors.
• Provide executive leadership with recommendations to strengthen Deephaven’s product positioning.
• Analyze loan production quality, pull-through, and margin impacts across products.
• Track performance by channel, program, credit bucket, and geography to identify opportunities for product expansion or tightening.
• Develop product dashboards and KPIs in partnership with Business Intelligence or FP&A.
Job Requirements
- 8–12+ years of mortgage experience, with at least 5+ years specifically in Non-QM or Non-Agency.
- Deep understanding of capital markets, pricing, underwriting, guideline development, and product design.
- Proven experience creating or managing Non-QM loan programs.
- Strong analytical skills, including the ability to interpret investor tapes, securitization data, credit trends, and performance analytics.
- Demonstrated ability to communicate complex loan structures clearly across sales, underwriting, and operations.
- Experience partnering directly with executive leadership and external investors.
- Exceptional writing skills for guideline drafting, product summaries, and market updates.
- Bachelor’s degree required; advanced degree or relevant certifications a plus.
Benefits
- Flexible Time to Recharge – Personalized Time Off for What Matters (because rest isn't one-size fits all)
- Future Finance Focused – Generous employer-matched 401(k) plan
- Community Connect– Philanthropy Committee that creates charitable initiatives
- Health from Day One – Comprehensive health insurance starting on day one of employment
- Family Matters – Competitive maternity and paternity leave
- Culture & Celebrations – Culture Committee with team-building events and celebrations
- Ideas Welcome – Encouraging thought leadership and innovation
- Guidance & Growth – Mentorship opportunities for career development
- Perk Up – Exclusive discounts on travel, tech, pets, legal, and more