Cara Newman, a former managing director and head of structured finance at specialty finance company Redwood Trust is heading to Hometap, a home equity financial technology company, to build out its capital markets business.
At Hometap, Newman will develop and implement the company's asset capital strategy, and lead a team that will focus on the company's optimization, structuring, pricing and go-to-market methods for various investor segments, the company said.
Aside from her role at Boston-based Hometap, Newman will be the face of the company as she expands its industry outreach efforts. She is vice chair of the Structured Finance Association's Women in Securitization group. She will also uphold the company's outreach through key structured finance market initiatives related to developing home equity investment as an asset class, sustainable investment frameworks, and technology, the company said.
The company also brought on board Josh Gaffney as general counsel, to oversee all strategic and tactical legal initiatives for Hometap, Hometap said.
Gaffney will also provide effective guidance to the executive team on company strategies and their implementation, according to Hometap.
"I'm thrilled to welcome Josh Gaffney and Cara Newman to our team, each bringing to us extensive talents and experience in the legal, financial, and capital markets fields that will be invaluable as we expand our efforts in structured finance and investor engagement," according to a statement from Hometap co-founder and chief executive officer Jeffrey Glass said.
Based in Boston, Hometap has provided home equity financing to more than 8,000 homeowners across the U.S.
