Welcome to our dedicated page for Redwood Trust news (Ticker: RWT), a resource for investors and traders seeking the latest updates and insights on Redwood Trust stock.
Redwood Trust, Inc. (NYSE: RWT) is a specialty finance company focused on credit-sensitive investments in residential loans and other mortgage-related assets. Established in 1994, the company operates as an internally managed real estate investment trust (REIT), aiming to deliver a stable and growing stream of attractive earnings and dividends for its shareholders.
Redwood Trust operates primarily in three segments:
- Residential Consumer Mortgage Banking: This segment acquires residential loans from third-party originators for subsequent sale to whole loan buyers, securitization through the Sequoia (SEMT) private-label securitization program, or transfer into its investment portfolio.
- Residential Investor Mortgage Banking: This platform focuses on originating and acquiring business purpose lending loans for further securitization, sale, or integration into the investment portfolio.
- Investment Portfolio: This segment comprises organic investments sourced through residential and business-purpose mortgage banking operations.
Beyond these core operations, Redwood Trust's team of dedicated and talented professionals plays a pivotal role in driving innovation and maintaining the company's esteemed reputation. The company fosters a non-hierarchical, hard-working, and fun environment that encourages contributions and feedback from all levels within the organization.
The company also earns income through its residential mortgage banking activities, contributing to its financial robustness. Redwood Trust's continuous pursuit of excellence is evident through its strategic initiatives and partnerships designed to enhance shareholder value.
Stay updated with Redwood Trust's latest developments, partnerships, and financial performances through recent news and updates provided below:
- Latest News: Source: Redwood Trust, Inc.
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Liquid Mortgage has announced a strategic partnership and capital raise from Redwood Trust (NYSE: RWT), marking a significant step in developing blockchain technology for the mortgage industry. The partnership aims to enhance loan data reporting and delivery, utilizing nearly $300 million of loans on a test platform. With funds from this capital raise, Liquid Mortgage plans to expand its technology and team, promoting a more efficient mortgage ecosystem. Both companies are focused on actionable blockchain applications to improve industry transparency and efficiency.
Redwood Trust (NYSE: RWT) announced on April 19, 2021, its investment in Liquid Mortgage, a startup leveraging blockchain technology to enhance mortgage processes. This marks Redwood's third investment under the RWT Horizons venture strategy. The partnership aims to digitize and improve efficiencies in the non-agency mortgage sector, focusing on post-close purchase activities and loan remittance data. By reducing costs and increasing transparency, the collaboration seeks to benefit borrowers and enhance market liquidity.
Redwood Trust (NYSE: RWT) provided a business update for Q1 2021, reporting locked residential loans totaling $4.6 billion from over 110 sellers, with a mix of 95% Select loans and 5% Choice loans. The company originated $384 million in business purpose loans, primarily focusing on single-family rental and bridge loans. Significant advancements include the initiation of its RWT Horizons venture strategy and the onboarding of approximately 40 Sequoia securitizations onto its dv01 platform. Redwood estimates a 5% increase in the fair value of its securities portfolio during the quarter. Financial results will be released on April 28, 2021.
Redwood Trust (NYSE: RWT) announced the appointment of Faith A. Schwartz and Armando Falcon to its Board of Directors on March 30, 2021. Schwartz, with extensive experience in housing finance, founded Housing Finance Strategies and serves on several boards, including Gateway First Bank. Falcon, CEO of Falcon Capital Advisors, brings regulatory and financial expertise, having previously overseen federal housing enterprises. These appointments aim to enhance the company's leadership diversity and innovation in housing finance.
Redwood Trust (NYSE: RWT) announced its first two technology investments through RWT Horizons, aimed at enhancing its financial and real estate technology initiatives. The investments were made in Rent Butter, a tenant screening tool provider, and Rent Room, a property management platform for landlords. Ryan McBride, COO of CoreVest, has taken on the role of Chief Investment Officer for RWT Horizons, leading its capital deployment strategy. CEO Christopher Abate emphasized that these partnerships will improve efficiency in the mortgage value chain and enhance customer service and market share.
Redwood Trust (NYSE: RWT) announced a 14% increase in its quarterly dividend, raising it from $0.14 to $0.16 per share for Q1 2021. This marks the company's 87th consecutive quarterly dividend. The dividend will be payable on March 31, 2021, to shareholders of record on March 24, 2021. CEO Christopher J. Abate expressed commitment to delivering stable dividends and strategic capital deployment.
Redwood Trust (NYSE: RWT), a leader in housing finance, announced participation in Morgan Stanley's State of the Housing Market webcast on March 17, 2021, at 10:00 a.m. Pacific. CEO Chris Abate and senior management will discuss crucial topics such as the housing market's state, trends in homeownership and single-family rental, as well as lending demand. A live webcast link will be available on Redwood Trust's Investor Relations website, with an archive accessible for 90 days post-presentation.
Redwood Trust, Inc. (NYSE: RWT), a leader in housing finance, will participate in the 22nd Annual Credit Suisse Virtual Financial Services Forum on February 25, 2021. CEO Chris Abate will host a fireside chat at 1:20 PM PT / 4:20 PM ET. Interested investors can access the live webcast via the Investor Relations website, with an archived version available for 90 days post-event. Redwood Trust aims to provide housing credit solutions not addressed by government programs and has been publicly traded since 1994.
Redwood Trust reported its Q4 2020 earnings, posting a GAAP net income of $54 million or $0.42 per diluted share. The GAAP book value per share increased to $9.91, while the economic return on book value stood at 7%. The company achieved a record $3.8 billion in jumbo loan locks, an 81% increase from Q3 2020. Additionally, it maintained a quarterly dividend of $0.14 per share. Business purpose loans also rose by 71% to $448 million.
Redwood Trust (NYSE: RWT) announced tax information regarding its 2020 dividend distributions. Shareholders received several quarterly dividends totaling $0.725 per share, specifically $0.32, $0.125, $0.14, and $0.14 per share. For tax purposes, these dividends are characterized as 100% return of capital, thus not taxable unless exceeding the shareholder's tax basis. Shareholders are advised to consult their tax advisors for guidance on reporting these distributions, particularly regarding federal income tax implications.
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