Andrew Taffet Succeeding Bruce Rose As Carrington CEO

The Carrington Companies’ founder and longtime CEO Bruce Rose is transitioning out of that role, to be succeeded by company veteran Andrew Taffet.

Taffet, currently the company’s Chief Investment Officer, will remain in that position and take on the duties of CEO. Rose will assume the position of Chairman of the Executive Committee.

“This is not a dramatic handoff by any means, but rather a natural next step for our business,” Rose said in a press release.

“In addition to his duties as Chief Investment Officer, Andrew has been handling the day-to-day operations and oversight of our company for some time. 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 primarily engaged in single-family mortgage asset management, but also originates and services mortgages. Its brokerage Vylla Home is licensed in 39 states and D.C.

It offers a suite of non-QM, FHA, VA, USDA, and conforming Conventional products, and has expanded to 40-year mortgages and temporary buydowns in the last year.

Carrington says these changes were made to extend affordable options to hard-pressed buyers navigating the difficult housing market. Both allow borrowers to reduce their monthly payment, making the dream of homeownership easier to reach.

“I am truly honored to assume the role of Chief Executive Officer and continue to work with such a talented team to build upon our achievements to date,” Taffet said.

“Bruce provided me with an opportunity to start my career with Carrington two decades ago, and it has been a privilege to contribute to the growth of our platform.”