Verus Mortgage Capital Adds Five to Its Team

Aug 29, 2018

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.”

About the author

NationalMortgageProfessional.com

Link copied

Published

Aug 29, 2018

Operations

Fairway Acquires Hallmark Home Mortgage Through Asset Purchase

Hallmark to become new Fairway division, gets access to Fairway's Fairway's product portfolio, tech, and support resources

Fairway Independent Mortgage Corporation, one of the largest retail mortgage lenders in the U.S., has agreed to acquire Hallmark Home Mortgage. Terms of the transaction were not disclosed, but Fairway will purchase “significant assets” of Indiana-based Hallmark, whic...

Regulation and Compliance

Trigger Leads Bill Clears Senate

Final push now left to House; reconciled bill needed next

The U.S. Senate has passed the Homebuyers Privacy Protection Act (S. 1467), bringing the mortgage industry one step closer to curbing the controversial use of mortgage trigger leads. The Mortgage Bankers Association (MBA) applauded the June 12 vote, which follows earlier pro...