GILBERT, Ariz.–(BUSINESS WIRE)–Window Rock Capital Partners, LLC, an asset management firm focused on identifying attractive investment opportunities in U.S. residential credit markets, announced that its Ventana Loan Services business has agreed to terms to obtain certain contractual rights previously used in connection with the residential mortgage conduit operated by WinWater Home Mortgage LLC. In addition, Ketan Parekh and Joseph Kohout have joined the Window Rock team. Mr. Parekh and Mr. Kohout were previously part of the management team at WinWater.
Founded in 2013, New York based WinWater’s conduit was setup to buy residential mortgage loans from a network of more than 100 originators across the United States. WinWater ceased operations in early 2016. Window Rock believes that correspondents will respond well to the ease of onboarding with Ventana given its prior relationship with WinWater.
“We look forward to introducing the Ventana mortgage conduit with our new loan programs to this correspondent network,” said Window Rock CEO and Chief Investment Officer Patrick Cardon. “In today’s environment, where there are a significant number of non-bankable borrowers, we believe that the residential credit market provides compelling opportunities for investors. Window Rock looks to acquire efficiently and aggregate assets in areas where we see the greatest opportunity for our investors.”
Cardon noted that regulation, shifting underwriting standards, and misunderstood risk have resulted in significant pricing inefficiencies involving non-agency mortgages and other segments of the residential credit market. In addition to providing direct, cost-effective access to a broad network of originators, Window Rock will obtain real-time insight into evolving conditions in the residential mortgage market through day-to-day interactions with correspondent lenders across the United States.
The WinWater contractual rights have been acquired by Ventana Loan Services, a subsidiary of Window Rock Capital Partners. Ventana Loan Services is a recently launched platform focused on originating and sourcing residential credit opportunities on behalf of Window Rock’s investment funds.
About Window Rock Capital Partners
Window Rock Capital Partners, LLC is an investment management firm focused on identifying attractive investment opportunities in the residential credit market. The firm has significant experience in underwriting and understanding borrower credit through proprietary data collections, internal systems, and processes. For more information, visit www.windowrock.com or email the company at firstname.lastname@example.org.