CoreVest 2024 Q4 Earnings Breakdown
Inside CoreVest's Q4 2024 Performance: Geographic Insights, Loan Portfolio Highlights, and Exclusive Data Access
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 Q4 2024 originations, including loan amounts, property details, and borrower information
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Our full analysis includes breakdowns by product type, detailed information about where CoreVest has been most active, and highlighted transaction details including these exclusive visualizations:
Quarterly origination volume trends with year-over-year comparisons
Detailed geographic heatmaps of lending activity by state
Analysis of flip property gross margins by purchase price
Bridge vs Term loan mix evolution
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Top local/regional flippers and SFR operators
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Executive Summary
CoreVest, a leading specialty finance company, provides loans to residential real estate investors and continues to play a significant role in the market. Founded in 2014 and headquartered in Irvine, California, CoreVest was acquired by Redwood Trust in 2019, a real estate investment trust specializing in mortgage banking. The company offers various loan products for investors interested in purchasing, renovating, or refinancing single-family and multifamily properties.
In Q4 2024, CoreVest showed strong origination volume of $501 million, marking a 9.4% increase quarter-over-quarter from Q3 2024 and a significant 46.1% year-over-year growth compared to Q4 2023. The loan mix shifted toward term loans at 45% of total volume (up from 35% in Q3), while bridge loans represented 55% of originations (down from 65% in Q3). CoreVest has been particularly active in California, Texas, Florida, Arizona, and Colorado, with Los Angeles, Dallas, and Phoenix emerging as key metropolitan markets.
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