Redwood Trust Announces New Hires to Drive Advancements in Technology and Growing Non-Agency Opportunities
31 10월 2024 - 5:45AM
Business Wire
Redwood Trust, Inc. (NYSE: RWT; “Redwood” or the “Company”), a
leader in expanding access to housing for homebuyers and renters,
is excited to announce the hiring of two key leaders to strengthen
its commitment to innovation in technology and product development,
strategic initiatives that are central to Redwood’s mission of
making quality housing – whether rented or owned – accessible to
all American households.
Abhinav Asthana joins the company as Chief Technology Officer,
effective November 1st. With a distinguished track record of
driving progress in mortgage technology, Abhinav will lead the
Company’s efforts to enhance its product offerings through an
expansion of its digital capabilities and artificial intelligence
(“AI”) footprint. Additionally, Jason Kopcak recently joined
Redwood as Head of Alternative Strategies, with a mandate to deepen
the Company’s presence in alternative non-Agency products and
expand distribution channels across its operating platforms.
As Chief Technology Officer, Abhinav will be responsible for
overseeing all technology-related aspects of the Company, including
application development, infrastructure, and IT operations. Abhinav
will spearhead Redwood’s initiatives to use AI to develop safe and
common-sense solutions that enhance functionality, efficiency, and
user experience for customers and employees. He joins Redwood with
almost two decades of experience in the technology and software
industry, most recently serving as Head of Products at Tavant. He
has also held product leadership and engineering positions at Wipro
and Hewlett-Packard. Known for his expertise in AI implementation
and digital transformation, Abhinav has successfully launched
numerous cutting-edge initiatives that have transformed
organizations and delivered significant value to customers across
the consumer finance industry.
“We are thrilled to welcome Abhinav to our team,” said
Christopher Abate, Chief Executive Officer of Redwood Trust.
“Abhinav is a dynamic leader with a track record of harnessing
technology to deliver exceptional results. In an era where the
mortgage industry struggles to deliver access to quality housing,
Abhinav’s expertise in technology and AI will be pivotal in
addressing this need. Supported by our talented technology team, we
are committed to delivering world class, tech-forward solutions to
reduce production and customer acquisition costs, directly
benefiting aspiring homeowners.”
Jason Kopcak joins the team after a year of consulting with the
Company. His experience includes sound corporate executive
leadership along with expertise in launching successful new
products and driving growth initiatives. During Jason’s career, he
has held various mortgage finance leadership roles, including as
the Chief Executive Officer of a publicly traded asset management
and private credit provider. He also was employed at Morgan Stanley
and Nomura Holdings, Inc. where he held leadership roles within the
Residential teams at each institution, involved in various facets
of the mortgage business from trading, warehousing, securitization
to investment banking.
“Jason brings a wealth of knowledge and experience in product
development and distribution across the non-agency space,”
continued Abate. “As Redwood seeks to drive solutions for the
growing cohort of underserved borrowers who do not meet traditional
lending requirements, Jason is the perfect fit to help us
strengthen our market position. Furthermore, Jason’s established
relationships with institutional investors will enable us to
explore new opportunities for distribution, partnerships, and
growth.”
About Redwood
Redwood Trust, Inc. (NYSE: RWT) is a specialty finance company
focused on several distinct areas of housing credit where we
provide 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. We operate our business
in three segments: Residential Consumer Mortgage Banking,
Residential Investor Mortgage Banking and Investment Portfolio.
Through RWT Horizons®, our venture investing initiative, we invest
in early-stage companies that have a direct nexus to our operating
platforms. Additionally, through Aspire, our home equity investment
(“HEI”) platform, we directly originate HEI to homeowners. 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. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20241030023596/en/
Kaitlyn Mauritz Head of Investor Relations Phone: 866-269-4976
Email: investorrelations@redwoodtrust.com
Redwood (NYSE:RWT)
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