Redwood Trust, Inc. reports developments in housing credit finance, mortgage banking production, securitization activity, whole-loan distribution, and REIT dividends. The company operates platforms including Sequoia for jumbo residential mortgage loans, Aspire for non-QM mortgage banking, and CoreVest, alongside investment portfolios focused on residential credit assets.
Company news commonly covers quarterly results, Earnings Available for Distribution, common and preferred stock dividend declarations, dividend tax reporting, private-label securitizations through SEMT and SPIRE, seller and institutional-investor relationships, and product expansion such as medical professional loan programs. Updates also address capital markets distribution, risk transfer, portfolio valuation effects, and the wind-down or repositioning of legacy investments.
Redwood Trust (NYSE: RWT) has announced a groundbreaking securitization, SEMT 2021-6, priced at $449 million and backed by 497 jumbo residential loans. This is the first non-Agency residential mortgage-backed securitization leveraging blockchain technology, aimed at enhancing reporting efficiency. By partnering with Liquid Mortgage, Redwood plans to provide daily loan-level payment data, promising greater transparency. This initiative marks a significant step towards fully digitized and tokenized mortgages, addressing inefficiencies in the mortgage lifecycle.
Redwood Trust (NYSE: RWT) announced the pricing of CoreVest's inaugural securitization of bridge loans on transitional housing assets, totaling $270 million. This securitization, CAFL 2021-RTL1, includes loans secured by various property types and offers a 30-month reinvestment feature. Additionally, Redwood disclosed the hiring of Marc Heenan as Senior Vice President of Lender Partnerships to expand CoreVest's correspondent channel for business-purpose loans. The securitization reflects strong market interest and diversifies Redwood's investment portfolio.
Redwood Trust, Inc. (NYSE: RWT) has announced a 17% increase in its quarterly dividend, now at $0.21 per share, effective for the third quarter of 2021. This marks the 89th consecutive quarterly dividend and demonstrates the company's financial strength. The dividend is payable on September 30, 2021, to stockholders on record as of September 23, 2021. CEO Christopher J. Abate emphasized the importance of the dividend in delivering total returns to shareholders and the company’s sound financial strategy.
Redwood Trust, Inc. (NYSE: RWT) has formed a strategic investment partnership with Frontiers Capital to enhance its venture investment strategy, RWT Horizons. This collaboration will focus on investing in early-stage startups within frontier technologies such as AI, machine learning, and blockchain. The partnership aims to provide new sourcing channels for technology investments and complements RWT Horizons' existing strategy, which has previously invested in eight early-stage companies. The goal is to disrupt the mortgage finance industry by leveraging innovative technologies.
Redwood Trust (NYSE: RWT) announces a hybrid Investor Day on September 14, 2021, at 11:00 a.m. Pacific Time / 2:00 p.m. Eastern Time in New York City. Senior leadership will present, followed by a Q&A session. The event will cover key topics such as the 'Future of Housing Finance,' featuring industry experts including Michael Bright and Armando Falcon. A live video webcast will be available on Redwood's website, with a replay accessible afterward. Redwood Trust focuses on housing credit investments, aiming for attractive returns for shareholders.
Redwood Trust, Inc. (NYSE: RWT) announced the appointment of its President, Dashiell Robinson, to the Board of Directors, effective August 27, 2021. Robinson, who joined Redwood in 2017 from Wells Fargo Securities, has significantly contributed to the company's strategic vision in housing finance. Richard D. Baum, Chairman of the Board, emphasized Robinson's crucial role, while CEO Chris Abate noted the strengthened expertise on the Board. Redwood Trust focuses on enhancing housing access, providing liquidity, and delivering customized credit investments.
Redwood Trust (NYSE:RWT) reported a strong second quarter for 2021, with GAAP net income of $90 million ($0.66/share) and a 6.5% increase in GAAP book value to $11.46. The company achieved an annualized return on equity of 29% and an economic return on book value of 8.2% for Q2. Business purpose loans rose 37% to $527 million, while jumbo residential loan locks reached $3.9 billion. A quarterly dividend of $0.18/share was declared, with coverage at 4.5x.
Redwood Trust (NYSE: RWT) announced key updates for the second quarter ending June 30, 2021. The company originated $527 million in business purpose loans, with a mix of 60% single-family rental and 40% bridge loans. They locked $3.9 billion in residential loans and completed four non-agency securitizations totaling $1.5 billion in jumbo loans. Book value is estimated to have increased by 6% since March 31, 2021. The company will release its financial results on July 28, 2021.
Redwood Trust (NYSE: RWT), a leader in housing finance, will host a fireside chat on June 29, 2021, at 8:00 AM PT. CEO Chris Abate and senior management will discuss key topics like macro trends in the non-agency market, homeownership trends, and lending demand. The live webcast will be accessible via Redwood Trust's Investor Relations website, with an archive available for 90 days. The company focuses on providing liquidity in sectors not supported by government programs and aims to deliver stable returns through innovative housing credit investments.
Redwood Trust, Inc. (NYSE: RWT) announced a 13% increase in its quarterly dividend, raising it to $0.18 per share for Q2 2021, up from $0.16 in Q1 2021. This marks the company's 88th consecutive quarterly dividend, demonstrating its ongoing commitment to shareholder returns. The dividend will be payable on June 30, 2021, to stockholders of record as of June 23, 2021. CEO Christopher J. Abate emphasized the strength of the company’s earnings power and strategic capital deployment amidst favorable market conditions.