On Wednesday,(VMC), a non-QM correspondent investor backed by Invictus Capital Partners, announced the addition of new residential mortgage experts Ketan Parekh, Joseph Kohout, Michael Constas, Chana (Hanna) Gottlieb and Xiaoxiao (Sherry) Overton.
“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.”
The team originally ran the Ventana Home Mortgage conduit at Window Rock Capital Partners, acquiring RTLs and other non-QM products. Parekh and his team will focus on growing RTL market share and term business loan acquisition for VMC in New York.
“As the market for home renovation loans evolves, it’s important that RTL business is connected to a reliable securitization infrastructure,” Smith added. “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.”