Verus Mortgage Capital
has announced the addition of Ketan Parekh, Joseph Kohout, Michael Constas, Chana (Hanna) Gottlieb and Xiaoxiao (Sherry) Overton. 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,” said Dane Smith, President of VMC. “Adding this expert team enhances our current non-QM operation and enables us to better serve our lending partners and their clients.”
Smith said, “As the market for home renovation loans evolves, it’s important that RTL business is connected to a reliable securitization infrastructure. 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.”