May 16, 2021

MP Now News

Mortgage News

Redwood Trust to Offer Mortgage Insurance Reimbursement as an Employee Benefit, Encourages Others to Do Same

“As a company leader, if you are focused on environmental, social and governance goals, I urge you to consider this benefit for your employees as well,” said Abate. “Home ownership is the bedrock of our communities. It creates family wealth and creates a sense of inclusion, security and wellbeing. Let us bring home provision to each of our employees within reach.”

In a tight job market, support like the Redwood Benefit can help retain employees, attract a wider workforce, and improve employee wellbeing. MI – including government programs such as those offered by the Federal Housing Administration – is essential for many homebuyers to allow them to pay a monthly premium on top of their mortgage instead of a larger down payment. But even that is a burden for many people, including younger Americans and Black and Hispanic households, for whom that additional financial obligation is a more significant hurdle.

Overall, research shows that 8 out of 10 Americans say housing affordability is an issue 6 out of 10 US households can’t afford a house at the average price, and less than the half Potential buyers can conveniently pay a 20% down payment on a home. To meet these challenges in accessing affordable housing, Redwood built a bridge to home ownership for its employees by adding MI to its standard suite of employee benefits.

Abate, a leader in the mortgage industry, urges other business leaders to work with him to develop a sustainable solution to housing affordability by leveraging private sector resources.

“Everyone has the right to own their home and experience life satisfaction and positive financial health. But getting to this place in the midst of a pandemic and historic job losses can be an uphill battle. Redwood Trust is excited to help improve the health and safety of ours Contributing employees and productivity through a commitment to build generational wealth and create an asset that will help tackle the affordable housing crisis. This is an innovative employee benefit that provides a way to achieve the American dream of home ownership that is made for Far too many Americans are unreachable, “added Abate.

Further information on the Redwood Benefit can be found at: https://www.redwoodtrust.com/careers/

About Redwood Trust
Redwood Trust, Inc. (NYSE: RWT) is a specialty finance firm focused on different areas of home loan. Our operating platforms hold a unique position in the real estate finance value chain, providing liquidity for growing segments of the US real estate market that are not served by government programs. We offer tailor-made real estate loan investments to a diverse mix of investors via our first-class securitization platforms. Sales activities for whole loans; and our publicly traded stocks. Our consolidated investment portfolio has evolved to include a diverse mix of residential, commercial and multi-family properties. Our goal is to provide shareholders with attractive returns through a stable and growing stream of income and dividends, capital appreciation, and a commitment to technological innovation that enables risk-conscious scaling. Since going public in 1994, we have run our business in multiple cycles, building a track record of innovation and a world-class reputation for services, and a sensible approach to credit investment. Redwood Trust is internally managed and structured as a Real Estate Investment Trust (“REIT”) for tax purposes. For more information on Redwood Trust, please visit our website at www.redwoodtrust.com or connect with us LinkedIn, Twitter, or Facebook.

SOURCE Redwood Trust

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http://www.redwoodtrust.com