There's currently no way to determine what the "owning feature" is for a Model Parameter (the feature that the parameter belongs to). Model Parameters can only have one owner, but the owner can be all kinds of things -- a Sketch, a Sketch Block, a Part Feature, a Work Plane offset, an iMate Constraint offset, etc.
Currently the only way to find out what a parameter's owner is is to iterate through all sketches (and their dimensions), sketch blocks (and their dimensions), part features (and their parameters), work planes, etc. and see if any of them are the parameter in question. And sometimes even this doesn't work -- for example, the "ul" parameter for the quantity of a Sketch Pattern will not show up in any of those iterations. And it doesn't appear to be possible to iterate through all of the iMate constraint parameters (or at least, it's a lot of work).
Inventor, however, does know the owning feature for each parameter, because it's listed under the "Consumed by" column in the Parameters table. It's always the last entry in that list.
Please expose this "owning feature" object to the API, perhaps via a ModelParameter.OwningFeature property.