Redwood Trust Names New Chief Investment Officer and Announces Transition of CoreVest Leadership Team

Fred Matera Named Chief Investment Officer

Planned CoreVest Leadership Transition to be Completed on Third Anniversary of Acquisition

Redwood Trust, Inc. (NYSE: RWT) (“Redwood” or the “Company”), a leader in expanding access to housing for homebuyers and renters, today announced changes to its leadership team as part of a strategic evolution of its organizational structure.

Fred Matera, Redwood’s current Head of Residential, will assume the role of Chief Investment Officer of Redwood, overseeing centralized investment, capital markets and distribution functions across the Company’s investment portfolio and Business Purpose Lending and Residential Mortgage Banking businesses.

In addition, Beth O’Brien, Founder and Chief Executive Officer of CoreVest American Finance Lender LLC (“CoreVest”), and Christopher Hoeffel, President of CoreVest, will depart from Redwood on October 14, 2022. These departures are scheduled to occur on the third anniversary of Redwood’s acquisition of CoreVest as part of a planned transition to a seasoned group of leaders within CoreVest. Dash Robinson, Redwood’s President, will continue to maintain oversight over both of Redwood's mortgage banking platforms.

“I want to congratulate Fred Matera on his new role as Chief Investment Officer of Redwood,” said Christopher Abate, Chief Executive Officer of Redwood. “Fred has been a trusted partner to Redwood over many years in various roles, providing invaluable leadership. Fred will lead a collaborative effort that should further strengthen our industry leading capital markets and investing disciplines to capitalize on the opportunities that we see in today’s markets. Fred’s deep expertise across both the residential and commercial mortgage spaces, track record in capital markets, and commitment to innovation have contributed to Redwood’s success over the years and we look forward to the leadership he will continue to bring to this important function of our business.”

“On behalf of Redwood, we want to thank Beth and Christopher immensely for their significant contributions over the years,” said Dash Robinson, President of Redwood. “Since founding CoreVest in 2014, Beth, along with Christopher, Ryan McBride and the rest of the leadership team, have grown the platform to be the national leader in the business purpose mortgage space, with an exceptional reputation and unrivaled market footprint. CoreVest remains a critical driver of Redwood’s business strategy and developing and transitioning to the next generation of leadership has been a key driver for the long-term success of the platform. We look forward to continuing to deliver value to our CoreVest customers through best-in-class service and our broad array of products that distinguish us as a true life-cycle lender.”

About Redwood

Redwood Trust, Inc. (NYSE: RWT) is a specialty finance company focused on several distinct areas of housing credit. Our operating platforms occupy a unique position in the housing finance value chain, providing 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. Our aggregation, origination and investment activities have evolved to incorporate a diverse mix of residential, business purpose and multifamily assets. 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. We operate our business in three segments: Residential Mortgage Banking, Business Purpose Mortgage Banking and Investment Portfolio. Additionally, through RWT Horizons™, our venture investing initiative, we invest in early-stage companies strategically aligned with our business across the lending, real estate, and financial technology sectors to drive innovations across our residential and business-purpose lending platforms. Since going public in 1994, we have managed our business through several cycles, built a track record of innovation, and established a best-in-class reputation for service and a common-sense approach to credit investing. 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, Twitter, or Facebook.

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