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Castlelake, Redwood form $8B prime jumbo mortgage joint venture

Castlelake and Redwood Trust have formed a joint venture to purchase up to $8 billion of prime jumbo mortgages, the companies announced Wednesday. Under the partnership, Minneapolis-based asset manager Castlelake will gain programmatic purchasing power for fully documented prime jumbo loans, while California-based Redwood’s Sequoia platform will source, aggregate and perform due diligence on loans…