DeepGreen Launches HEL Outsourcing

DeepGreen Financial, Cleveland, has announced the creation of GreenMax, a new business channel that will deliver the company's home equity lending platform to banks, credit unions, and other financial services companies.The company said GreenMax will provide the services on either a private-label or a co-branded basis. "GreenMax is extremely flexible," said Jerome Selitto, DeepGreen's chief executive officer. "We will originate, buy, and service loans or originate and deliver the assets to clients; [and] we will accommodate our partner's underwriting guidelines, close in our name or our client's, or handle just underwriting or processing." The company said GreenMax will focus initially on home equity products, but expects eventually to offer other rules-based financial products such as student, personal, auto, and boat loans. DeepGreen can be found online at http://www.deepgreenfinancial.com.