Ketan Parekh, Joseph Kohout, Michael Constas, Chana (Hanna) Gottlieb and Xiaoxiao (Sherry) Overton recently joined Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM and investor lending solutions.
Parekh and his team moved from Window Rock Capital Partners, where they ran the Ventana Home Mortgage conduit that acquired RTLs and other non-QM products.
The team will be based in New York and will focus on growing RTL market share and term business loan acquisition for VMC.
“Demand for short-term loans to finance professional home renovations has grown due to our nation’s aging housing stock, tight inventory and limited new construction,” says Dane Smith, president of VMC, in a release. “Adding this expert team enhances our current non-QM operation and enables us to better serve our lending partners and their clients.”
“As the market for home renovation loans evolves, it’s important that RTL business is connected to a reliable securitization infrastructure,” Smith adds. “As a full-service correspondent investor, VMC is committed to building a robust non-QM portfolio for its correspondent partners, including renovation loan, bridge loan and term rental programs.”