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.
Ocwen has tried to mend its ways, noting in the new report: “We have now resolved all of the state cease and desist orders (but not all of the legal actions) taken against us….”
“The opportunity for us is clear,” said Christopher Abate, president of Redwood. “Capital needs in this still emergent sector of housing finance continue to rise..."
Mel Watt has roughly eight more months in office, but already industry lobbyists and GSE watchers are playing “guess who the next FHFA director might be.”
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