CoreVest American Finance LLC has promoted Christopher Hoeffel, previously its chief financial officer, to president. He will also take on additional strategic functions within CoreVest, as well as its parent company, Redwood Trust Inc., including joining Redwood’s investment committee, a group tasked with strategic allocation of the firm’s capital. He will also expand his scope to include product development and credit policy and continue to oversee all his current functional areas.
“Chris has been a key member of the senior management team and integral to our growth and success over the years,” said Beth O’Brien, CEO of the New York City-based firm. “I am excited about the additional contributions that he will bring in developing strategies for continued growth at CoreVest and collaborating with our partners at [our parent company] Redwood.”
CoreVest is a lender to residential real estate investors nationwide. It offers long-term loans for stabilized rental properties as well as short-term bridge loans, investment credit lines and build-to-rent programs. With more than $10 billion in loans funded and approximately 100,000 units financed, CoreVest offers attractive rates, rapid timelines and closing certainty. The company works directly with borrowers and brokers.