Redwood Residential launches new expanded loan offerings

Redwood Residential, the residential mortgage banking platform of Redwood Trust, has rolled out new expanded product offerings designed for self-employed borrowers.

Through its Choice program, Redwood Residential has launched new loan products that are “uniquely structured” to meet the Consumer Financial Protection Bureau’s qualified mortgage definition, the company said in a release.

“Since the beginning of 2021, over 50 million people have voluntarily left their jobs, and there has been a significant increase in the number of people entering self-employment,” said Carlene Graham, chief operating officer of Redwood Residential. “As interest rates rise, access to homeownership becomes an even bigger challenge, particularly for consumers with strong credit but who do not have traditional salary documentation.”