Fred Matera's Promotion as CoreVest's New CEO
CoreVest American Finance Lender, LLC, a prominent lender for residential real estate investors and a division of Redwood Trust, Inc., is delighted to announce the promotion of Fred Matera to the role of Chief Executive Officer. With substantial experience at Redwood and a critical role at CoreVest as Co-Head, Fred has been a key player in shaping the company's strategy. He will report to Dash Robinson, the President of Redwood, in his new position.
CoreVest's Vision Under Fred Matera
As the Chief Executive Officer, Fred will take charge of CoreVest’s operational strategy, focusing on product enhancement and expanding distribution. His leadership will aim to foster innovation and broaden the company’s reach while ensuring unparalleled value for customers and stakeholders alike.
Extensive Experience in Residential Lending
Fred comes to this role with an impressive history of leadership within the market. Previously serving as Chief Investment Officer at Redwood, he also played an integral part as Co-Head of CoreVest. His tenure has seen CoreVest grow its operational footprint and market position significantly, continuously refining strategies that uplift the company’s profile. With over 30 years of expertise in residential lending and fixed income markets, Fred's experience includes the past six years with Redwood, where he led the Residential Consumer Mortgage Banking platform.
Support from Industry Leaders
Christopher Abate, the CEO of Redwood, expressed confidence in Fred’s capabilities, stating, "Fred’s proven track record and market expertise will be instrumental as CoreVest enters a new stage of growth. The marketplace requires CoreVest’s products and services, and the company is well-situated for expansion under his direction."
Fred's Commitment to CoreVest's Future
In taking on his new role, Fred Matera shared his enthusiasm: "I am honored to lead such a talented group. I aim to build on our achievements and identify new opportunities to enhance our offerings and advance CoreVest’s agenda."
About CoreVest's Operations
CoreVest stands out as the foremost lender for residential real estate investors across the country, offering an array of services including long-term loans for rental property portfolios, short-term bridge loans, investment credit lines, and build-for-rent programs. The company has successfully completed nearly $23 billion in loans and financed over 160,000 units, demonstrating a solid commitment to providing reasonable rates and reliable closing timelines. By working directly with brokers and borrowers, CoreVest continually strives to elevate its impact within the industry.
About Redwood Trust
Redwood Trust, Inc. (NYSE: RWT) specializes in housing credit, focusing on sectors often underserved by government programs. It offers customized housing credit investment options through securitization platforms and whole-loan distribution. Redwood manages its investments across three main sectors: Residential Consumer Mortgage Banking, Residential Investor Mortgage Banking, and Investment Portfolio, working towards providing attractive shareholder returns while embracing technological advancements.
Frequently Asked Questions
What does Fred Matera's promotion mean for CoreVest?
Fred Matera's promotion signifies a strategic shift as CoreVest aims to enhance its operational strategy and expand its market reach under his leadership.
What are CoreVest’s primary services?
CoreVest offers long-term loans for rental properties, short-term bridge loans, credit lines for investments, and programs tailored for building rentals.
What is Redwood Trust's focus?
Redwood Trust focuses on providing liquidity to housing credit sectors that are not adequately serviced by government initiatives, offering tailored investment solutions.
How has CoreVest performed financially?
CoreVest has closed nearly $23 billion in loans and financed over 160,000 units, showcasing its strong performance in the residential lending sector.
What can we expect from CoreVest in the future?
Under Fred Matera's guidance, CoreVest is expected to innovate and adapt to market demands while continuing to provide exceptional value to its customers.
