The Carrington Companies tapped Andrew Taffet as its new CEO. Taffet, who is currently serving as Carrington’s chief investment officer, will continue in that role while succeeding company founder Bruce Rose.
Rose will assume the role of executive committee chairman for the Carrington Companies. Taffet, meanwhile, will be in charge of day-to-day operations and oversight of the company, a task he’s been handling for some time now.
He has been with Carrington for nearly 20 years after joining as associate director and head of analytics in 2004. He was previously promoted to portfolio manager and managing director before becoming CIO in 2014.
“This is not a dramatic handoff by any means, but rather a natural next step for our business,” Rose said in a statement. “The Carrington Companies will continue to operate as they have for the past 20-plus years. Our effectively self-hedged business strategy positions us for continued success, as we have demonstrated even during the most challenging market cycles.”
Carrington is a holding company and its primary business includes single-family mortgage asset management, as well as mortgage origination in the retail, wholesale and correspondent spaces; servicing; and real estate sales and settlement services.
In the mortgage space, Carrington Mortgage Services provides nonqualified mortgages (non-QM), conventional mortgages and government-backed loans through the FHA, VA and USDA programs..
Headquartered in California, Carrington services loans in all 50 states and Puerto Rico. It is licensed to lend in 48 states.
Carrington originated $1.38 billion in mortgage volume in 2023 across 7,193 units, according to data platform Modex. The lender has 282 sponsored mortgage originators, the Nationwide Multistate Licensing System (NMLS) shows.
