Redwood Trust Acquires Riverbend Funding (to integrate into CoreVest)
April 28, 2022
Redwood Trust, Inc. (NYSE: RWT) has acquired Riverbend Funding, LLC (Riverbend), a private bridge and business-purpose mortgage lender, in an all-cash transaction. Riverbend will be integrated into Redwood’s CoreVest platform to expand CoreVest’s single-asset bridge product, geographic footprint and origination/distribution capabilities; Riverbend is headquartered in Portland, Oregon with over 50 employees and originated more than $1.0 billion of loans in the past twelve months.
- Buyers
- Redwood Trust, Inc., CoreVest American Finance Lender, LLC (CoreVest)
- Targets
- Riverbend Funding, LLC (Riverbend Lending)
- Industry
- Financial Services
- Location
- Oregon, United States
- Transaction Type
- Buyout
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