DeepGreen Offers Home Equity Option

Following up on the successes realized by its third-party GreenSource channel, DeepGreen Financial has launched a new outsourcing solution dubbed GreenMax whereby the company will take on home equity loans on behalf of lenders.

"We started DeepGreen in early 2000 with the launch of our website," said Jerome Selitto, chief executive officer at DeepGreen. "We spent one year building a technology platform while we were operating under a federal savings bank charter. In effect, we purchased a savings bank in Miami and moved the charter to Cleveland. "The value proposition for us was to grow to be a home equity lender that would target the high end of the credit spectrum, which we define as 680 FICOs and above," he continued.

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