Redwood Trust completes acquisition of Riverbend Funding

Redwood Trust Inc. closed the acquisition of Riverbend Funding LLC and its subsidiaries in an all-cash deal.

The acquisition complements Redwood's existing business purpose mortgage banking platform, CoreVest American Finance Lender LLC. Specifically, the Riverbend platform adds single-asset bridge origination and distribution to CoreVest's product offering.

Riverbend employees and operations will be integrated into CoreVest. Following the closing of the deal, Riverbend co-founders Emilian Halloran and Sean Robbins will continue to lead the business as managing directors overseeing the single-asset bridge product.

JMP Securities was the financial adviser to Redwood on the deal, and Mayer Brown LLP was its legal adviser. Riverbend was advised by Piper Sandler.