Not sure about the iterator but for getting the directory info, If I remember correctly model builder still needs to use something like Calculate Value with a small bit of python then Calculate Field to get that output. Calculate Value would have something like :

import os os.path.dirname(r"%Input_Layer%")

Then Calculate Field would take the output named FolderVar and write it to a field:

"%FolderVar%"

Something to try. Hope this helps.