General counsel and head of structured finance named
Hometap has brought in Cara Newman (pictured left) as head of structured finance and Josh Gaffney (pictured right) as general counsel.
The strategic appointments mark the expansion of Hometap’s suite of home equity products and financial services. According to its news release, the new executives join the company’s leadership with a mandate to “drive innovation, cultivate new partnerships, and ensure continued success.”
“I’m thrilled to welcome Josh Gaffney and Cara Newman to our team, each bringing to us extensive talents and experience in the legal, financial, and capital market fields that will be invaluable as we expand our efforts in structured finance and investor engagement,” said Hometap CEO Jeffrey Glass. “Drawing upon their guidance, I am confident that we will deliver even more value to our partners, investors, and stakeholders while always driving positive impact for homeowners and their families across the country.”
As head of structured finance, Newman will oversee the development and execution of asset capital strategy, finding the best market fit for the company’s home equity investments (HEI).
She joined Hometap after nearly six years as managing director and head of structured finance at Redwood Trust. Newman is also currently the vice chair of the Structured Finance Association’s Women in Securitization.
“We have arrived at a truly inflective moment for our asset class, as investors come to discover this opportunity and the market drives towards greater transparency and possibilities in securitization,” Newman said. “Even amid that flurry of new interest, what makes Hometap unique - and makes this new opportunity so compelling - is the steadfast dedication we bring to living our mission, engaging homeowners with a technology-first process and support that reflects itself in the quality of our platform. I couldn’t be happier to bring that same dedication to a fast-expanding universe of investment partners.”
Meanwhile, Gaffney brings 17 years of legal experience to his new position at Hometap, where he will work with the executive team to provide guidance on all strategic and tactical legal functions. Most recently, Gaffney served as general counsel and chief privacy officer at fintech company Banyan.
“This is a tremendous moment to join Hometap, as we continue to fulfill our core objectives - building home equity investment from the ground up to serve homeowners - and, at the same time, foster new engagement with the capital markets,” said Gaffney. “As we move forward, further helping this asset class evolve and mature, I am excited to work alongside our talented legal and compliance team and with our senior leadership, providing the appropriate legal foundation to match our corporate ambition and diversity of activities.”
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