General World News

Redwood Trust finalizes acquisition of lender Riverbend 

Specialty finance company Redwood Trust Inc. has completed its acquisition of bridge lender Riverbend Funding LLC, which has a funded portfolio of more than $1.5 billion single-family and multifamily loans nationwide.

The acquisition of Portland, Oregon-based Riverbend and its subsidiaries, announced originally in late April, is expected to fit in well with Redwood’s existing business-purpose lending platform, CoreVest. Redwood executives say Riverbend will be integrated into CoreVest.

CoreVest provides financing to real estate investors across the country and as of late June boasted more than $15 billion in loans closed and some 125,000 units financed, according to details ⇒

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