NEW YORK--(BUSINESS WIRE)--CoreVest American Finance Lender, LLC (“CoreVest” or the “Company”), a leading lender to residential real estate investors nationwide and a division of Redwood Trust, Inc., today announced promotions and a new hire to the senior leadership team that will further accelerate and support the Company’s growth and prominence in the business purpose loan (“BPL”) market. These promotions include the appointments of Brad Chmura as Chief Operating Officer and Micaela Lumpkin as Chief Credit Officer. In addition, the Company hired Michael Peerson as Chief Investment Officer. These promotions and the addition of Mr. Peerson are effective immediately. Mr. Chmura will report to Beth O’Brien, Chief Executive Officer, and both Ms. Lumpkin and Mr. Peerson will report to Christopher Hoeffel, President.
Brad Chmura is being promoted from Head of Production to Chief Operating Officer. In his new role, Mr. Chmura will be responsible for design, implementation, and oversight of CoreVest’s business operations. Mr. Chmura joined CoreVest in 2017 as the Head of Production and has overseen unprecedented growth in loan origination volume, including record volume of $2.3 billion in 2021. Mr. Chmura brings a deep background in both direct mortgage origination and data analytics for mortgage companies.
Micaela Lumpkin is being promoted from Head of Term Lending to Chief Credit Officer. In her new role, Ms. Lumpkin will be responsible for oversight and administration of CoreVest’s credit practices, loan policies and procedures. Ms. Lumpkin has been with CoreVest since 2016 and has played a key leadership role in helping to design and implement CoreVest’s long-term rental program, becoming the unquestioned leader in this loan product. Prior to joining CoreVest, Ms. Lumpkin was a practicing attorney covering Real Estate and Finance, including mortgage and mezzanine financing.
Rounding out the leadership team, CoreVest also announced the hiring of Michael Peerson to the role of Chief Investment Officer. In his role, Mr. Peerson will be responsible for leading capital markets initiatives for CoreVest, oversight of strategy and positioning of CoreVest’s products as well as being focused on new product development and expanded distribution efforts. Mr. Peerson brings knowledge across multiple asset classes to CoreVest, including extensive single-family rental (“SFR”) experience as one of the leading traders in the sector since the early days of the SFR market.
“I’m incredibly excited to see the growth in both Brad and Micaela over the years and am looking forward to the continued impact they will have on CoreVest in the future,” said Beth O’Brien, Chief Executive Officer. “Their unique visions, including their crucial roles in helping to build the company from early days, will continue to help grow our core business and new initiatives.”
Added Christopher Hoeffel, President, “Michael has unparalleled experience in SFR market and has been a great resource to CoreVest for market intelligence and investor demand. It was a natural progression to ask him to join our team as we broaden our product offerings in the capital markets. We look forward to the skills and relationships he brings to our market-leading platform.”
About CoreVest
CoreVest, a division of Redwood Trust, Inc., is the leading lender to residential real estate investors nationwide. It offers long-term loans for portfolios of rental properties as well as short-term bridge loans, investment credit lines and build for rent programs. With more than $15 billion in loans closed and over 100,000 units financed, CoreVest offers attractive rates, rapid timelines and closing certainty. The company works directly with borrowers and brokers. For more information, visit www.corevestfinance.com.
Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve numerous risks and uncertainties. Redwood's actual results may differ from Redwood's beliefs, expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements are not historical in nature and can be identified by words such as "anticipate," "estimate," "will," "should," "expect," "believe," "intend," "seek," "plan" and similar expressions or their negative forms, or by references to strategy, plans, or intentions. These forward-looking statements are subject to risks and uncertainties, including, among other things, those described in Redwood's Annual Report on Form 10-K for the year ended December 31, 2021 under the caption "Risk Factors". Other risks, uncertainties, and factors that could cause actual results to differ materially from those projected may be described from time to time in reports we file with the Securities and Exchange Commission, including reports on Forms 10-Q and 8-K. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
