CoreVest Receives Inaugural Commercial Mortgage Special Servicer Ranking from DBRS Morningstar
CoreVest American Finance Lender, LLC (“CoreVest”), a leading lender to residential real estate investors nationwide and a division of Redwood Trust, Inc., announced today that it received a MOR CS3 commercial mortgage special servicer ranking from DBRS Morningstar. This is CoreVest’s first special servicer ranking. DBRS Morningstar highlights “CoreVest’s successful performance” in managing loans over the past few years and adds further that CoreVest “is positioned with the requisite capabilities to serve directly as a special servicer for its loan products and issued transactions.”
“We are very pleased to receive this ranking for our special servicing capabilities,” said Beth O’Brien, Chief Executive Officer of CoreVest. “This ranking from DBRS Morningstar is further recognition of the strength and experience of our special servicing platform as well as our reliable and consistent operating performance. We remain focused on delivering best execution on our securitizations and believe this ranking further supports our ability to meet our goals and provide solutions for our investors.”
About CoreVest
CoreVest, a division of Redwood Trust, Inc. (“Redwood Trust”), is the leading lender to residential real estate investors nationwide. It offers long-term loans for portfolios of rental properties as well as short-term bridge loans, investment credit lines and build for rent programs. With more than $16 billion in loans closed and approximately 125,000 units financed, CoreVest offers attractive rates, rapid timelines and closing certainty. The company works directly with borrowers and brokers. For more information, visit corevestfinance.com.
About Redwood Trust
Redwood Trust, Inc. (NYSE: RWT) is a specialty finance company focused on several distinct areas of housing credit. Our operating platforms occupy a unique position in the housing finance value chain, providing liquidity to growing segments of the U.S. housing market not well served by government programs. We deliver customized housing credit investments to a diverse mix of investors, through our best-in-class securitization platforms; whole-loan distribution activities; and our publicly traded shares. Our aggregation, origination and investment activities have evolved to incorporate a diverse mix of residential, business purpose and multifamily assets.
Our goal is to provide attractive returns to shareholders through a stable and growing stream of earnings and dividends, capital appreciation, and a commitment to technological innovation that facilitates risk-minded scale. We operate our business in three segments: Residential Mortgage Banking, Business Purpose Mortgage Banking and Investment Portfolio. Additionally, through RWT Horizons™, our venture investing initiative, we invest in early-stage companies strategically aligned with our business across the lending, real estate, and financial technology sectors to drive innovations across our residential and business-purpose lending platforms. Since going public in 1994, we have managed our business through several cycles, built a track record of innovation, and established a best-in-class reputation for service and a common-sense approach to credit investing. Redwood Trust is internally managed and structured as a real estate investment trust (“REIT”) for tax purposes. For more information about Redwood, please visit our website at www.redwoodtrust.com or connect with us on LinkedIn, Twitter, or Facebook.