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Redwood Trust, Inc. - RWT STOCK NEWS

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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Redwood Trust, Inc. (NYSE: RWT) provided preliminary financial results for Q3 2022, showing a GAAP book value per share estimated between $10.15 to $10.25, a decrease of 4.9% to 5.8% from $10.78 at the end of Q2 2022. The company reported strong liquidity with $297 million in unrestricted cash and $500 million in unencumbered assets. They added $900 million in financing capacity and repurchased 3.4 million shares for $24 million, adding $0.12 per share to book value. A dividend of $0.23 per share was also declared.

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Redwood Trust (NYSE: RWT) is collaborating with LauraMac to develop a new loan acquisition technology tailored to enhance Redwood's loan process and client experience. This system, based on LauraMac's Loan Acquisition System, features an intuitive seller dashboard, automated document recognition, and a robust rules engine, aimed at improving transaction efficiency and transparency. Both companies express strong optimism about this partnership's potential to innovate in the mortgage capital markets.

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Redwood Trust, Inc. (NYSE: RWT) announced leadership changes aimed at enhancing its organizational structure. Fred Matera, previously Head of Residential, has been appointed as Chief Investment Officer, overseeing investment, capital markets, and distribution functions. The transition coincides with the upcoming departure of CoreVest’s CEO Beth O’Brien and President Christopher Hoeffel on October 14, 2022, marking three years since Redwood's acquisition of CoreVest. The company aims to maintain strong leadership while continuing to provide exceptional service through its mortgage banking platforms.

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Redwood Trust (NYSE: RWT) has announced a third quarter 2022 dividend of $0.23 per share, marking its 93rd consecutive quarterly dividend. This dividend is payable on September 30, 2022, to stockholders on record by September 23, 2022. Redwood Trust is a specialty finance company focusing on housing credit, with a commitment to providing liquidity in underserved segments of the U.S. housing market. The company aims to deliver attractive returns to shareholders through a stable stream of earnings and dividends, alongside ongoing innovations.

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Redwood Trust (NYSE:RWT) has authorized a new stock repurchase program of up to $125 million, replacing a previous program of $100 million. This initiative allows for opportunistic repurchases without a set time limit, aiming to enhance shareholder value. In Q2 2022, Redwood repurchased $33 million in shares that positively impacted book value. CEO Christopher Abate emphasized a balanced approach to capital allocation, considering other investments alongside stock repurchases.

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Redwood Trust reported Q2 2022 results, showing a 10% decrease in GAAP book value per share to $10.78 and a GAAP net loss of $(0.85) per diluted share. This loss was largely driven by unrealized fair value changes on long-term investments. The company maintained a recourse leverage ratio of 2.5x and deployed $166 million into new investments. Despite a challenging market, Redwood's balance sheet remains robust with $371 million in unrestricted cash and a new share repurchase program authorized for $125 million.

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Redwood Trust (NYSE: RWT) will announce its Q2 2022 financial results on July 28, 2022, after market close. A conference call to discuss these results is scheduled for 2:00 PM PT on the same day. Investors can listen to the call via live webcast on the company's Investor Relations website. Following the call, a replay will be available until August 11, 2022.

Redwood Trust specializes in housing credit and operates in segments including Residential and Business Purpose Mortgage Banking, aiming to deliver liquidity and innovative solutions in the U.S. housing market.

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Redwood Trust, Inc. (NYSE: RWT) has completed its acquisition of Riverbend Funding, LLC, a leading private mortgage lender, in an all-cash transaction. This acquisition, first announced on April 28, 2022, aims to enhance Redwood's CoreVest American Finance Lender platform by adding single asset bridge origination. The integration is expected to expand the company's product offerings, geographic reach, and client base, supporting revenue growth amidst a higher interest rate environment.

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CoreVest American Finance Lender has successfully closed a $313 million securitization (CAFL 2022-1) backed by its single-family rental loans, marking its 19th SFR securitization. The deal incorporates blockchain technology via Liquid Mortgage for efficient loan data reporting and aligns with SASB ESG standards. The offering includes ten classes of certificates backed by 82 loans across approximately 1,800 properties in 24 states. This transaction underscores CoreVest's ongoing innovation and capital flexibility within the residential real estate lending sector.

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CoreVest American Finance Lender, LLC, a division of Redwood Trust (NYSE:RWT), has received a MOR CS3 commercial mortgage special servicer ranking from DBRS Morningstar, marking its first such recognition. This ranking acknowledges CoreVest's successful management of loans over recent years and positions it as capable of serving as a special servicer for its products. CEO Beth O'Brien expressed satisfaction with this acknowledgment, emphasizing their commitment to delivering strong performance on securitizations for investors.

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FAQ

What is the current stock price of Redwood Trust (RWT)?

The current stock price of Redwood Trust (RWT) is $6.77 as of December 20, 2024.

What is the market cap of Redwood Trust (RWT)?

The market cap of Redwood Trust (RWT) is approximately 894.8M.

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

894.78M
130.70M
1.19%
81.29%
3.14%
REIT - Mortgage
Real Estate Investment Trusts
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United States of America
MILL VALLEY