Redwood Trust Announces New Hires to Drive Advancements in Technology and Growing Non-Agency Opportunities
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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