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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Rhea-AI Summary
Redwood Trust, Inc. has appointed Doneene K. Damon as an independent director on its Board of Directors. Ms. Damon brings over three decades of experience as a trusted advisor and expertise in structured finance and capital markets transactions. She currently serves as a practicing attorney and Director of Richards, Layton & Finger, P.A. and holds leadership positions in various organizations. Ms. Damon will stand for re-election at the next Annual Meeting of Stockholders in May 2024.
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Redwood Trust, Inc. reported its financial results for Q3 2023. GAAP book value per common share decreased by 5.3% to $8.77. The company had a net loss of $33 million or $0.29 per diluted common share. Non-GAAP Earnings Available for Distribution was $11 million or $0.09 per basic common share. Redwood locked $1.6 billion of jumbo loans and purchased $815 million of jumbo loans in the quarter. The company achieved gross margins of 80bps. Redwood also funded $411 million of business purpose lending loans and distributed $340 million of these loans through securitization and whole loan sales. The company secured a recourse leverage ratio of 1.0x. Redwood had unrestricted cash and cash equivalents of $204 million. They successfully renewed two loan warehouse financing facilities and maintained $2.2 billion of excess financing capacity. Redwood commenced origination efforts for home equity investment and completed two RWT Horizons investments. They also published their second annual ESG report.
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Redwood Trust, Inc. (NYSE: RWT) is set to release its Q3 2023 results on October 30, 2023. A conference call will be held to discuss the financial results.
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Redwood Trust, Inc. declares third quarter 2023 dividends for common and preferred stock.
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Redwood Trust, Inc. launches Aspire, its in-house home equity investment origination platform, expanding its reach in the residential housing market. Aspire aims to provide consumers with access to their home equity with no additional monthly payment obligations. Redwood plans to originate HEI through its nationwide correspondent network of loan officers and direct-to-consumer channels. Redwood has been a leading participant in the HEI market, purchasing approximately $350 million in HEI to date and securing a $150 million dedicated HEI financing facility. Aspire focuses on consumers assessing traditional financing options who prefer the no monthly payment feature of HEI, providing them with cash today and the flexibility to refinance in the future. Redwood's HEI products aim to align the interests of homeowners and investors.
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Redwood Trust, Inc. (RWT) reported Q2 2023 financial results with a 1.5% decrease in GAAP book value per common share, $1 million net income available to common stockholders, and $16 million non-GAAP Earnings Available for Distribution. Redwood also established new forward flow relationships with depository institutions and a joint venture with Oaktree Capital Management, L.P. They successfully renewed maturing loan warehouse financing facilities and repurchased $31 million of convertible debt due August 2023.
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FAQ
What is the current stock price of Redwood Trust (RWT)?
The current stock price of Redwood Trust (RWT) is $7.06 as of November 15, 2024.
What is the market cap of Redwood Trust (RWT)?
The market cap of Redwood Trust (RWT) is approximately 929.8M.
What is Redwood Trust, Inc.?
Redwood Trust, Inc. is a specialty finance company focused on credit-sensitive investments in residential loans and other mortgage-related assets.
When was Redwood Trust, Inc. established?
Redwood Trust, Inc. was established in 1994.
What does Redwood Trust, Inc. specialize in?
The company specializes in residential loans, mortgage-related assets, and mortgage banking activities.
How is Redwood Trust, Inc. structured for tax purposes?
It is structured as a real estate investment trust (REIT) for tax purposes.
What are the main segments of Redwood Trust, Inc.?
The main segments are Residential Consumer Mortgage Banking, Residential Investor Mortgage Banking, and Investment Portfolio.
How does Redwood Trust, Inc. generate income?
The company generates income through residential mortgage banking activities and investments in mortgage-related assets.
What is the Sequoia (SEMT) private-label securitization program?
It is a program through which Redwood Trust securitizes residential loans for investment purposes.
What is the corporate culture at Redwood Trust, Inc.?
The company has a non-hierarchical, hard-working, and fun environment that values contributions and feedback from all levels.
What is the goal of Redwood Trust, Inc.?
The goal is to deliver a stable and growing stream of attractive earnings and dividends for its shareholders.
How can I stay updated with Redwood Trust, Inc. news?
You can stay updated by following the latest news and updates provided on their official channels and stock market websites.
Redwood Trust, Inc.
NYSE:RWT
RWT Rankings
RWT Stock Data
929.83M
132.27M
1.19%
79.22%
3.51%
REIT - Mortgage
Real Estate Investment Trusts
United States of America
MILL VALLEY