March 2024 Investor Day Recap
Investor Day Presentation
Presenters and Panelists
To Own RWT
Christopher J. Abate
Christopher J. Abate has served as Chief Executive Officer since May 2018 and as a director since December 2017. Mr. Abate has been employed with Redwood since April 2006, previously serving as Redwood’s President from July 2016 to May 2018, Chief Financial Officer from March 2012 to August 2017, and Controller from January 2009 to March 2013. From October 2019 to December 2021, Mr. Abate served as Chair of the Board of Structured Finance Association. Before joining Redwood, Mr. Abate was employed by PricewaterhouseCoopers LLP. He holds a B.A. in accounting and finance from Western Michigan University, an M.B.A. from the University of California at Berkeley and Columbia University.
Shifting Roles in Housing Finance:
How Private Capital Can Support Bank Capital Needs
Dashiell I. Robinson
Dashiell I. Robinson has served as Redwood’s President since December 2017 and as a director since August 2021. Prior to joining Redwood in September 2017, Mr. Robinson was employed at Wells Fargo Securities, serving as the Head of Mortgage Finance within the Asset-Backed Finance Group. In that role, Mr. Robinson led a team of banking professionals responsible for financing and distributing an array of residential mortgage products and serving a broad suite of the firm's operating and investing clients. Prior to his employment at Wells Fargo, Mr. Robinson was employed within the Structured Credit Products Group at Wachovia Capital Markets from 2001 to 2008, serving in banking, structuring and risk mitigation roles. Mr. Robinson also serves as a member of the Board of Directors of the Jewish Community Center of San Francisco. Mr. Robinson holds a B.A. in English from Georgetown University.
Eric Schuppenhaur
Eric J. Schuppenhauer is Executive Vice President and President of Consumer Lending, overseeing all aspects of Citizens’ Consumer Lending business including mortgage, home equity, credit card, unsecured, student, operations, strategy, secondary markets, digital / technology, and risk teams. In this role, Eric is a member of Citizens Financial Group’s Executive Committee and Citizens Bank’s Consumer Leadership Team which guides all aspects of the Consumer Bank’s strategy. Eric also serves as the Executive Sponsor of Citizens Private Bank and the Interim Co-Head of Wealth Management
Eric joined Citizens in March 2018 from Capital One where he led their mortgage originations and servicing businesses. Prior to Capital One, Eric served in senior roles at JPMorgan Chase where he led their mortgage originations business, their servicing business and was their mortgage CFO.
Prior to JP Morgan Chase, Eric was at Fannie Mae where he was Senior Vice President / CFO of the Single-Family Business, head of the National Servicing Organization and assisted in the creation of the Home Affordable Refinance Program (HARP) and Home Affordable Modification Program (HAMP), serving as the first Program Administrator of the Making Home Affordable program for the U.S. Treasury Department.
Prior to Fannie Mae, Eric held senior roles at Credit Suisse, the U.S. Securities and Exchange Commission and KPMG.
Eric the Chairman of the Housing Policy Council’s Executive Committee and the MBA’s Residential Board of Governors.
Eric earned his BS in Commerce (with a concentration in Accounting) from the University of Virginia and is a Certified Public Accountant (inactive).
Eric is married with two children and resides in Southlake, TX.
Eric Bisman
Eric M. Bisman is a Senior Director and recently transitioned to lead Capital Markets Funding, overseeing all aspects of Ally’s secured and unsecured funding activities. In this role, Bisman is also responsible with helping develop Ally’s suite of tools, including credit risk transfer, whole loan sales, forward flow agreements, and other strategies that enhance Ally’s ability to optimize capital while driving growth and planning for continued uncertainty in the operating and macro environments. Prior to this role, Bisman was head of the Non-Agency residential and Consumer ABS credit portfolios, responsible for RMBS and ABS investments. Bisman also managed the Agency CMO investment portfolio and oversaw certain MBS and Whole Loan investments that met CRA requirements in support of Ally’s CRA Strategic Plan. Bisman was also head of all Non-Agency residential Whole Loan bulk activities, primarily responsible for opportunistic mortgage acquisitions on behalf of the Bank’s held-for-investment mortgage portfolio. In this capacity, Bisman also oversaw periodic bulk sales of both legacy Reperforming and ongoing Performing Whole Loans, and strategically exercised call rights on legacy trusts. Bisman joined Ally in June 2011 from Deloitte, where he was a Senior Manager in the Securitization practice and assisted high profile clients in the securitization of RMBS and ABS private-label transactions comprised of Scratch and Dent, Subprime, Alt-A, Prime and HELOC collateral. Bisman earned his bachelor’s degree from the University of Michigan. Bisman is married with two children and resides in Manhasset, NY.
Michael Brown
Michael Brown is a Managing Director within J.P. Morgan’s Corporate & Investment Bank. He is responsible for the Residential Structured Finance “RSF” Group. RSF provides capital and liquidity solutions for borrowers, investors and issuers in the $13 trillion residential mortgage market. With Michael’s leadership, the group provides secured lending, syndication, and securitization of more than $100 billion of residential real estate assets per year. Prior to joining J.P. Morgan in 2015, Michael spent 21 years at Morgan Stanley, where he held a variety of senior and management roles. For close to 30 years, he has been involved in the structured finance markets that facilitate liquidity for real estate, corporate, and consumer debt products. His roles have included financing, securitization, market making, risk management, syndication and distribution of loans, securities and derivatives. Additionally, Michael has been very engaged with the housing finance agencies and their regulators around numerous policy topics. He is known as a culture carrier and collaborator with strong communications skills. Beyond his day-to-day responsibilities, Michael also contributes to broader initiatives at J.P. Morgan and within the industry.
These include, but are not limited to:
- Executive Sponsor, The Fellowship Initiative
- Executive Committee, Structured Finance Association
Michael earned a Bachelors of Business Administration in Computer Information Systems from James Madison University, and a Masters of Business Administration in Finance from Duke University’s Fuqua School of Business.
Overview of Partnership with CPP Investments
Dashiell I. Robinson
Dashiell I. Robinson has served as Redwood’s President since December 2017 and as a director since August 2021. Prior to joining Redwood in September 2017, Mr. Robinson was employed at Wells Fargo Securities, serving as the Head of Mortgage Finance within the Asset-Backed Finance Group. In that role, Mr. Robinson led a team of banking professionals responsible for financing and distributing an array of residential mortgage products and serving a broad suite of the firm's operating and investing clients. Prior to his employment at Wells Fargo, Mr. Robinson was employed within the Structured Credit Products Group at Wachovia Capital Markets from 2001 to 2008, serving in banking, structuring and risk mitigation roles. Mr. Robinson also serves as a member of the Board of Directors of the Jewish Community Center of San Francisco. Mr. Robinson holds a B.A. in English from Georgetown University.
Brooke E. Carillo
Brooke E. Carillo serves as Chief Financial Officer of Redwood Trust, Inc. Prior to joining Redwood in May 2021, Ms. Carillo was employed at Annaly Capital Management, Inc., most recently serving as the Head of Corporate Development and Strategy. In that role, Ms. Carillo led the corporate strategy, capital markets and investor relations departments, and served on the firm's Operating Committee. Prior to her joining Annaly in 2010, Ms. Carillo worked in investment banking within the Financial Institutions Group at Bank of America Merrill Lynch. Ms. Carillo holds a B.S. in Economics from Duke University.
The Power of Partnerships:
Private Credit Partnerships Underscore Our Opportunity
Dashiell I. Robinson
Dashiell I. Robinson has served as Redwood’s President since December 2017 and as a director since August 2021. Prior to joining Redwood in September 2017, Mr. Robinson was employed at Wells Fargo Securities, serving as the Head of Mortgage Finance within the Asset-Backed Finance Group. In that role, Mr. Robinson led a team of banking professionals responsible for financing and distributing an array of residential mortgage products and serving a broad suite of the firm's operating and investing clients. Prior to his employment at Wells Fargo, Mr. Robinson was employed within the Structured Credit Products Group at Wachovia Capital Markets from 2001 to 2008, serving in banking, structuring and risk mitigation roles. Mr. Robinson also serves as a member of the Board of Directors of the Jewish Community Center of San Francisco. Mr. Robinson holds a B.A. in English from Georgetown University.
Brooke E. Carillo
Brooke E. Carillo serves as Chief Financial Officer of Redwood Trust, Inc. Prior to joining Redwood in May 2021, Ms. Carillo was employed at Annaly Capital Management, Inc., most recently serving as the Head of Corporate Development and Strategy. In that role, Ms. Carillo led the corporate strategy, capital markets and investor relations departments, and served on the firm's Operating Committee. Prior to her joining Annaly in 2010, Ms. Carillo worked in investment banking within the Financial Institutions Group at Bank of America Merrill Lynch. Ms. Carillo holds a B.S. in Economics from Duke University.
Operating Blueprint: Partnership Based Investing
Dashiell I. Robinson
Dashiell I. Robinson has served as Redwood’s President since December 2017 and as a director since August 2021. Prior to joining Redwood in September 2017, Mr. Robinson was employed at Wells Fargo Securities, serving as the Head of Mortgage Finance within the Asset-Backed Finance Group. In that role, Mr. Robinson led a team of banking professionals responsible for financing and distributing an array of residential mortgage products and serving a broad suite of the firm's operating and investing clients. Prior to his employment at Wells Fargo, Mr. Robinson was employed within the Structured Credit Products Group at Wachovia Capital Markets from 2001 to 2008, serving in banking, structuring and risk mitigation roles. Mr. Robinson also serves as a member of the Board of Directors of the Jewish Community Center of San Francisco. Mr. Robinson holds a B.A. in English from Georgetown University.
Brooke E. Carillo
Brooke E. Carillo serves as Chief Financial Officer of Redwood Trust, Inc. Prior to joining Redwood in May 2021, Ms. Carillo was employed at Annaly Capital Management, Inc., most recently serving as the Head of Corporate Development and Strategy. In that role, Ms. Carillo led the corporate strategy, capital markets and investor relations departments, and served on the firm's Operating Committee. Prior to her joining Annaly in 2010, Ms. Carillo worked in investment banking within the Financial Institutions Group at Bank of America Merrill Lynch. Ms. Carillo holds a B.S. in Economics from Duke University.
Election Year Politics:
Insights on Regulation and Housing Policy
Armando Falcon
Armando Falcon has been a director of Redwood since March 2021. Mr. Falcon is CEO of Falcon Capital Advisors LLC, a management consulting firm based in Washington, DC, that provides strategic advice and technical assistance to financial services companies, mortgage industry companies, and government agencies on matters involving process reengineering, project management, regulatory compliance, and data analytics, which he founded in 2007. He previously served as the Director of the Office of Federal Housing Enterprise Oversight, and as the General Counsel for the Committee on Banking and Financial Services of the U.S. House of Representatives. Mr. Falcon currently serves on the Board of Directors of the Structured Finance Association. Mr. Falcon also serves as an advisor to the Board of Directors of the National Association of Hispanic Real Estate Professionals. Mr. Falcon holds a B.A. from St. Mary’s University, an M.P.P. from Harvard University, and a J.D. from the University of Texas.
Ed DeMarco
Ed DeMarco is President of the Housing Policy Council. Prior to joining HPC in June 2017, Ed was a senior fellow in residence at the Milken Institute’s Center for Financial Markets.
From 2009 to 2014, Ed was acting director of the Federal Housing Finance Agency (FHFA), where he served as the conservator for Fannie Mae and Freddie Mac and regulator of those companies and the Federal Home Loan Banks. He has been named HousingWire Magazine’s Person of the Year for his impact on housing finance. He was chief operating officer and senior deputy director of the FHFA and its predeces-sor agency from 2006 to 2009.
His career in public service includes positions at the Social Security Administration, the Treasury Department, and GAO. He earned a B.A. in economics from the Uni-versity of Notre Dame and a Ph.D. in economics from the University of Maryland.
Isaac Boltansky
Isaac Boltansky is a Managing Director and Director of Policy Research at BTIG. In this role he is responsible for coordinating the firm’s Washington policy analysis and forecasting how potential policy shifts could impact investors, corporations, and other market participants. He focuses particularly on financial services, housing policy, digital assets, cannabis policy, tax legislation, and Congress. Prior to BTIG, Mr. Boltansky was the Director of Policy Research at Compass Point Research and Trading. He also served as a Research Analyst on the Troubled Asset Relief Program (TARP) Congressional Oversight Panel and as a Research Analyst at EJF Capital.
Jason Cave
Jason Cave is the Principal of Piedmont Risk Advisors, a firm dedicated helping clients in banking, mortgage finance and technology succeed in the rapidly changing DC regulatory climate.
With over thirty years of experience in the federal banking regulatory sector, he is a seasoned executive leader who has contributed to the safety and soundness, policy development, and crisis management of the U.S. banking system.
A trusted public servant, Mr. Cave was selected by four presidentially-appointed principals to run large banking, mortgage finance, and technology portfolios to improve supervisory effectiveness, crisis management and readiness capabilities, corporate governance, risk, and cybersecurity resiliency at systemically important firms.
The Opportunity to Build a More Accessible Housing Market
Kaitlyn J. Mauritz
Kaitlyn Mauritz is a Managing Director and Head of Investor Relations for Redwood Trust. Kait’s responsibilities include establishing and expanding the company's relationships with sell-side and buy-side investment analysts, industry analysts, media personnel and investors worldwide. She also provides input on the company’s financial reporting, capital markets, public relations and ESG-related activities. Prior to joining Redwood in January 2022, Kait was Head of Investor Relations for New Residential Investment Corp. and also held other investor relations related roles at Annaly Capital Management Inc. and ICR Inc. Kait began her career at Citigroup in both Sales & Trading and Equity Capital Markets and graduated with a BA in Politics from Princeton University.
Faith A. Schwartz
Faith A. Schwartz has been a director of Redwood since March 2021. Ms. Schwartz is the Founder and CEO of Housing Finance Strategies, LLC, a professional services and advisory practice focusing on capital markets, rating agencies, and mortgage modernization and innovation, which she founded in 2016. Ms. Schwartz currently serves on the Board of Directors of Gateway First Bank, as well as on the boards of several other privately held mortgage industry-focused companies, including Class Valuation LLC. From 2013 to 2016, Ms. Schwartz served as Senior Vice President of Federal Practice of CoreLogic, Inc., a provider of property information, insight, analytics and data-enabled solutions. She is also the founder of HOPE NOW Alliance, a public-private initiative launched in 2007 to seek solutions for American families facing foreclosure during the Great Recession. Ms. Schwartz also previously served as Senior Vice President of Government, Housing, and Industry at Option One Mortgage Corporation, a subsidiary of H&R Block, from 2003 to 2007 and as Director of Alternative Markets and Director of National Sales at Freddie Mac between 1997 and 2003. From October 2021 to October 2023, Ms. Schwartz served on the Consumer Advisory Board for the Consumer Finance Protection Bureau (CFPB). She also previously served on the Federal Reserve Board’s Consumer Advisory Council. In 2010, Ms. Schwartz founded HOPE LoanPort, a technology non-profit organization that helps families reach and sustain their goal of homeownership. She started her career at Dominion Bancshares Mortgage Company as Vice President of Capital Markets and Wholesale Lending. Ms. Schwartz holds a B.S. from Shippensburg State College and an M.B.A. from the University of Pittsburgh.
Chrissi Johnson
Chrissi Johnson is founder and CEO behind Alinement Advisors and The Alinement Initiative, and co-host of Real Estate Rebels.
With over 15 years of experience as a regulator and practitioner, Chrissi is uniquely positioned to identify opportunities for “alinement” on critical issues in housing pol-icy and real estate technology, driving collaborative action at the intersection of commerce and social change. With a diverse background in government, corporate leadership, and consumer advocacy, she knows that durable change requires break-ing down barriers between stakeholders to find shared purpose.
Prior to Alinement, Chrissi served in leadership roles with Rocket Companies, the CFPB, Senators Elizabeth Warren and Al Franken, and Obama’s 2008 campaign. She currently lives in Brooklyn, New York with her partner and son, where they also own and operate a successful hospitality group.
Carlene A. Graham
Carlene Graham is the Chief Operating Officer of Redwood’s Residential Business. She joined the firm as a Vice President in 2013 and has held a number of roles across the organization since then, most recently as Managing Director of Purchase Operations. In her role, Carlene is responsible for all purchase activities within Redwood’s Residential business including underwriting, system and process design, transaction management, counterparty risk, vendor management, funding and client services. She is currently a board member for The Gathering Place in Denver, CO and serves as an advisory committee member for the University of Colorado Leeds School of Business.