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Redwood Trust, Inc. (NYSE: RWT) has launched Aspire, an in-house home equity investment (HEI) origination platform designed to provide consumers access to their home equity without additional monthly payment obligations.

The Mill Valley, California-based company plans to directly originate HEI by leveraging its nationwide correspondent network of loan officers, and by establishing direct to consumer origination channels. Since 2019, Redwood has purchased approximately $350 million in HEI; the company also co-sponsored the first securitization backed entirely by HEI in 2021 and procured a $150 million dedicated HEI financing facility in 2022.

“Redwood has a history of bringing innovative solutions to the non-Agency housing market and we are thrilled to begin directly offering HEI, an effort that ties closely with our longstanding mission of supporting housing accessibility,” said Christopher Abate, CEO of Redwood. “We have been fortunate to work alongside a handful of HEI originators over the last few years, helping to bring liquidity and product development expertise to this emerging asset class. As we continue to invest in HEI through our third-party partners, Aspire will represent the natural evolution of our strategy, allowing us to address the needs of consumers we have long served through our residential correspondent network.”