Redwood Trust to acquire Riverbend.

Redwood Trust, a specialty finance company focused on several distinct areas of housing credit, agreed to acquire Riverbend, a private mortgage lender to residential transitional and commercial real estate investors. Financial terms were not disclosed. "Riverbend’s platform adds a complementary product and geographic footprint to CoreVest’s existing business. The market for bridge loans continues to be exceptionally strong, supported by increasing sales of newly constructed and rehabilitated homes amidst shrinking housing inventory. This acquisition enhances our scale in this market and we believe that our existing partners will benefit from the products, experience, and strategic lift that Riverbend brings to CoreVest," Chris Abate, Redwood CEO.