CoreVest 2024 Q2 Earnings Breakdown
CoreVest posts highest origination volume in 7 quarters.
In this data-driven analysis, we dive deep into CoreVest’s recent earnings report and financial performance. Our comprehensive report includes:
A breakdown of where CoreVest has been most active, including a heat map of all lending activity
Highlights of recent portfolio loans completed by the company
Exclusive access to a detailed spreadsheet of CoreVest's portfolio loan originations since January 2024, including loan amounts, property details, and borrower information
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Our full analysis includes breakdowns between product type, shows detailed information about where CoreVest has been most active, and highlights transaction details.
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Executive Summary
CoreVest is a leading specialty finance company that provides loans to residential real estate investors. It was founded in 2014 and is headquartered in Irvine, California. In October 2019, CoreVest was acquired by Redwood Trust, a real estate investment trust that specializes in mortgage banking and investing in mortgage-related assets.
CoreVest offers a variety of loan products for investors who are looking to purchase, renovate, or refinance single-family properties, multifamily properties, and portfolios of rental properties.
Origination volume is up 41% QoQ with Q2 having the most volume in the last 7 quarters. Term loans were up significantly, accounting for 47% of origination volume vs the typical 25-40% they’ve been at the last few years.
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