Quarterly ResultApr 29, 2026, 04:41 PM
RWT Q1 GAAP Net Loss $(0.07)/share; Record Mortgage Banking $8.5B
AI Summary
Redwood Trust Inc. reported a GAAP net loss of $(0.07) per basic and diluted common share for Q1 2026, with a GAAP net loss of $(7.3) million. However, non-GAAP Earnings Available for Distribution (EAD) was $0.21 per share, exceeding the $0.18 quarterly dividend. The company achieved a record Mortgage Banking production of $8.5 billion, up from $7.3 billion in the prior quarter, marking a third consecutive quarterly record.
Key Highlights
- GAAP net loss was $(0.07) per basic and diluted common share.
- Non-GAAP Earnings Available for Distribution (EAD) was $0.21 per share.
- Mortgage Banking production reached a record $8.5 billion, up from $7.3 billion.
- GAAP book value per common share was $7.12 at March 31, 2026.
- Declared and paid a regular quarterly dividend of $0.18 per common share.
- Sequoia Mortgage Banking locked $6.5 billion of loans, up 22% from Q4 2025.
- CoreVest Mortgage Banking funded $432 million of loans.
- Redwood Investments generated a segment GAAP net loss of $(8.0) million.