Changes involve three senior executives
CoreVest, the mortgage subsidiary of Redwood Trust, has made several major changes to its leadership team to further accelerate and support the company’s growth in the business purpose loan market.
The residential lender recently announced the promotions of Brad Chmura as chief operating officer and Micaela Lumpkin as chief credit officer. CoreVest also hired Michael Peerson, a former Wells Fargo executive, as chief investment officer.
As chief operating officer, Chmura will oversee the design and implementation of CoreVest’s business operations. He joined the company in 2017 as head of production and played a huge role in driving CoreVest’s loan origination volume to a record-breaking $2.3 billion last year.
Lumpkin, who was previously head of term lending, will be responsible for the oversight and administration of CoreVest’s credit practices, loan policies and procedures. Lumpkin has been with CoreVest since 2016 and led the development of its long-term rental program.
Meanwhile, Peerson is in line to head capital market initiatives, new product development and expanded distribution efforts. Before joining CoreVest, he spent nearly 15 years at Wells Fargo, most recently as director, non-agency trader.
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“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 CoreVest CEO Beth O’Brien. “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.
“Michael has unparalleled experience in the 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,” company president Christopher Hoeffel added.
