Redwood Trust Inc., the specialist in jumbo mortgages, has gained membership in the Federal Home Loan Bank of Chicago through an insurance unit, becoming the fourth real-estate investment trust to join the network of regional lending cooperatives in a bid to improve its financing.
When Dan Weissman worked at Goldman Sachs Group Inc. and, later, at a hedge fund, he didn’t have to worry about methamphetamine addicts chasing his employees with metal pipes. Or SWAT teams barging into his workplace looking for arsonists.
Redwood Trust Inc., the biggest issuer of U.S. home-loan bonds without government backing last year, is ending its four-month absence from a market that’s all but evaporated as banks compete with debt investors for the extra yield offered by private-label mortgages.
Redwood Trust Inc. , the jumbo- mortgage specialist that in April sponsored the first private securitization of new U.S. home loans in two years, said regulators demanded information about its Acacia collateralized- debt-obligation business.
Mel: If you took 1,500 one-dollar bills and laid them end to end, they would stretch all of 750 feet, only three-quarters of the way down a crosstown block in Manhattan. We had to stretch those dollars into a lifetime free of ever having to work for anyone other than ourselves again.