Redwood Trust Announces First Technology Investments Under Its Recently Launched RWT Horizons Venture Investing Strategy
MILL VALLEY, CALIFORNIA, March 22, 2021 / PRNewswire / – Redwood Trust, Inc. (NYSE: RWT), a leader in expanding housing access for buyers and renters, today announced two technology investments as part of its recently launched RWT Horizons, a strategy that is moving forward Early and mid-stage companies focus on promoting innovations in financial and real estate technology as well as in digital infrastructure. Investments made through Horizons are designed to support companies whose technologies are beneficial to Redwoods businesses, including its home and business loan platforms.
The company also announced that Ryan McBrideThe Chief Operating Officer at CoreVest (a redwood trust company and the market-leading lender for residential real estate investors) has expanded his responsibilities and assumed the additional role of Chief Investment Officer at RWT Horizons. In this role, Ryan will lead the development and implementation of RWT Horizons’ capital investment and strategic partnerships strategy.
RWT Horizons recently made its first investments in two early-stage technology companies, both closely linked to the burgeoning home rental market. The first transaction involved an investment in Rent Butter, a Chicago-based company that develops its own tenant screening tool with which landlords can efficiently evaluate potential tenants and sensibly reduce failures and evictions. The second transaction involved an investment in Rent Room, a new York-based software-as-a-service company that offers a user-friendly, turnkey property management platform for small and medium-sized landlords and their tenants.
Christopher AbateThe Chief Executive Officer of Redwood Trust stated, “RWT Horizons is a key element of our company-wide technology strategy that we believe will drive innovation in both our personal and business lending platforms. We invest directly through the Horizons initiative in companies that are strategically aligned with our business and whose technologies we believe can deliver new efficiencies across the mortgage value chain. In the case of Rent Butter and Rent Room, these disruptive solutions were sourced directly from CoreVest’s existing borrower network. “
Abate continued, “New partnerships forged through RWT Horizons will improve our technology roadmap and drive innovations that continue to support world-class customer service, revenue growth and increased market share. We appreciate the positive market response to Horizons and are thrilled Ryan led this initiative because of his technology background and experience building credit and real estate businesses. “
About Redwood Trust
Redwood Trust, Inc. (NYSE: RWT) is a specialty finance firm focused on various areas of home loan. Our operating platforms hold a unique position in the real estate finance value chain, providing liquidity for growing segments of the US real estate market that are not served by government programs. Via our first-class securitization platforms, we offer tailor-made systems for home loans to a diverse mix of investors. Sales activities for whole loans; and our publicly traded stocks. Our consolidated investment portfolio has evolved to include a diverse mix of residential, commercial and multi-family properties. Our goal is to provide shareholders with attractive returns through a stable and growing stream of income and dividends, capital appreciation, and a commitment to technological innovation that enables risk-conscious scaling. Since going public in 1994, we have run our business in multiple cycles, building a track record of innovation and a world-class reputation for services, and a sensible approach to credit investment. Redwood Trust is internally managed and structured as a Real Estate Investment Trust (“REIT”) for tax purposes. For more information about Redwood Trust, please visit our website at www.redwoodtrust.com or on LinkedIn, Twitter or Facebook.
CoreVest is the leading lender for residential real estate investors nationwide. It offers long-term loans for stabilized rental properties as well as short-term bridging loans, investment lines of credit and build-to-rent programs. With more than $ 10 billion For financed loans and around 100,000 financed units, CoreVest offers attractive interest rates, fast deadlines and closing security. The company works directly with borrowers and brokers. For more information, please visit www.corevestfinance.com or on LinkedIn, Twitter or Facebook.
Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve numerous risks and uncertainties. Our actual results could differ from our beliefs, expectations, estimates and projections. Therefore, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements are not historical in nature and can be identified by words such as “anticipate”, “estimate”, “will”, “should”, “expect”, “believe”, “intend”, “seek”. Plan “and similar expressions, or their negative forms, or by reference to strategies, plans or intentions. These forward-looking statements are subject to risks and uncertainties, including those described in our Annual Report on Form 10-K for the past fiscal year December 31, 2020 under the heading “Risk Factors”. Other risks, uncertainties, and factors that could cause actual results to differ materially from those projected may be described from time to time in reports we file with the Securities and Exchange Commission, including reports on Form 10-Q and 8-K. We assume no obligation to update or revise any forward-looking statements as a result of new information, future events or for any other reason.
Lisa Hartman – SVP, Head of Investor Relations
E-mail: [email protected]
SOURCE Redwood Trust, Inc.