In a separate announcement, San Diego-based fintech announces launch of new real estate brokerage, Splitero Homes, to help homeowners in 4 states 'sell for the highest price'
Parent company Redwood Trust closes deal to acquire Portland, Oregon-based bridge loan provider Riverbend Funding LLC
The fintech startup offers home equity investments of up to $500,000 without income or credit score requirements and no monthly payments. The funds have a 30-year repayment period
Redwood Trust, which issues 'jumbo' loans that are off limits to Fannie and Freddie, said in a new critique that costlier markets are better served by private lenders