Redwood Trust announced this week that it purchased a stake in 5 Arches, an originator and asset manager of business-purpose residential mortgages. Redwood will continue aggregating jumbo and other non-agency mortgages, but officials at the real estate investment trust also see promise in loans for single-family rental properties and fix-and-flip financing.
Compared to March 2017, the combined nonbank servicing business was up 14.7 percent, while banks in the top 50 saw a 2.4 percent decline from a year ago.