About Us
William Cleverly
William Cleverly co-founded Monterey Homes Corporation in 1985 and served as an Owner and President from its inception until December 1996 when Monterey Homes closed an unusual reverse merger with a public listed NYSE company. After the acquisition was completed, Monterey Homes changed its name to Meritage Corporation and is on the New York Stock Exchange under the symbol “MTH”. In addition, Mr. Cleverly was elected to the position of Chairman of the Board and Co-Chief Executive Officer of Meritage. Meritage Corporation designs, builds and sells distinctive single family homes ranging from entry-level to semi-custom luxury and has built more than 60,000 homes in its 26 year history. The Company was ranked 11th on Fortune Magazine’s “Fastest Growing Companies in America”; it’s third appearance on this list. In addition, Meritage was ranked the 11th largest home builder in the U.S. by Builder Magazine and recognized revenues of $3,490,000,000 in 2006. In 2004, Meritage was named a “FORTUNE 1000” Company (becoming a member of a group of the largest companies in the United States). Meritage operates in the Phoenix and Tucson, Arizona markets under the Monterey Homes, Hancock Communities and Meritage Homes brand names; in the Dallas/Ft. Worth, Austin, Houston and San Antonio, Texas markets as Legacy Homes, Hammond Homes, and Monterey Homes; in the East San Francisco Bay and Sacramento, California markets as Meritage Homes; in Las Vegas, Nevada as Perma-Built Homes; in the Southern California market as Citation Homes; in the Denver market as Meritage Homes and as Colonial Homes in Florida.
Mr. Cleverly retired from Meritage and the Board of Directors in June 2002. He is now the Chief Executive Officer and Managing Member of INCA Capital. Since its inception, INCA has funded and closed more than $500,000,000 in off-balance sheet financing of assets (Lot Banking) for private and public home builders. In addition, the company has developed and sold approximately 5,000 single family residential lots in the Metro Phoenix market. Since 2004 he has been the lead investor in funding approximately $100 million of secured asset loans and recently completed serving ten (10) years on the Arizona Board of Directors of Compass Bancshares (a $60 billion U.S. Bank, acquired by BBVA). Recently he participated as an investor in the purchase of First National Bank of Scottsdale (FNBS) which acquisition was closed October 2010 and is on the Board of Directors. This transaction was noteworthy because FNBS was the only bank in the U.S. to be approved in 2010 by the OCC for a change in control application. From 1983 to 1985, Mr. Cleverly was Owner-President of a company that developed, constructed and sold multi-family communities in Metropolitan Phoenix. He earned his undergraduate degree in Business from the University of Arizona in 1980 and is originally from Palo Alto, California.
Justin Ferrandi
Justin Ferrandi is the co-founder and co-manager of INCA Capital Funding. Mr. Ferrandi has over 15 years experience in private lending and has underwritten and funded over $500 million dollars in real estate loans. Mr. Ferrandi graduated from Arizona State University in 1991 with a major in Communication with an emphasis in Business. In 1992 Mr. Ferrandi received his Series 7 and Series 63 NASD broker license and worked for a Securities firm in Beverly Hills, California. In 1998 Mr. Ferrandi started the private lending division within a small residential mortgage company and grew it to over $50 million a year in loans. In 2003 Mr. Ferrandi founded his own private lending company and closed over 450 loans totaling nearly $250 million dollars in fundings. Mr. Ferrandi is licensed with the NMLS (the National Mortgage Licensing System and Registry) and is the Responsible Individual for the broker license for INCA Capital Funding, LLC issued by the Arizona Department of Financial Institutions. In addition, Mr. Ferrandi has sat on the Executive Council for the Boys and Girls Club of Metropolitan Phoenix and is married with two children.
