2014 Women of Influence: Carole Mortensen


CAROLE MORTENSEN is managing director, head of risk management, for Waterfall Asset Management. She has nearly 20 years’ experience in residential loan originations and structured finance and oversees asset management for several funds totaling over $1.5 billion in unpaid principal balance of performing and non-performing residential forward and reverse mortgage loans.

Throughout her career, Mortensen’s experience as a ratings analyst at Moody’s has lent to her understanding of risk in structured finance. She served as a vice president at Credit Suisse, and director at UBS and Societe Generale.

At Waterfall, Mortensen spearheads asset management with a team of seven professionals and manages the residential and small balance commercial risk management initiatives of her firm, a hedge fund located in NYC.

She is a leader when working with investors and clients as well as several of Waterfall’s affiliated businesses through its small balance REIT, Sutherland REIT. The total portfolio of assets that Mortensen manages across all strategies (with her team) totals over $2B in purchased UPB.

Through her experience at UBS and Credit Suisse, Mortensen is managing loan originations for several new residential loan origination platforms. She has been instrumental in recent acquisitions that support Waterfall’s lending activity for its small-balance commercial arm, which recently acquired a small business lending platform.

Mortensen initiated the first “Women of Waterfall” event to promote women in the workplace and arranges for key speakers that demonstrate success in a challenging work environment such as a hedge fund. She also organizes several corporate events, and last year, raised several thousand dollars through a holiday gift-giving effort for her entire firm.