Redwood Trust Q2 GAAP net income $1M, book value $9.26; EAD $0.14/sh; Oaktree JV

REDWOOD TRUST INC

2023-Q2 EPS reported $0.02

GAAP net income $1M ($0.00 diluted EPS); Non-GAAP EAD $16M ($0.14 basic); book value $9.26, down 1.5% from Q1.
Jumbo loan lock volume $567M, purchases $184M; Residential Mortgage Banking capital allocation raised to $80M from $15M.
Formed JV with Oaktree for up to $1B bridge loans; funded $406M business purpose loans, sold $200M.
Repurchased $31M convertible debt due Aug 2023, reducing balance to $113M, to be fully repaid at maturity.
90+ day delinquency on CAFL/bridge loan portfolios rose to 4.2% from 2.0% quarter-over-quarter.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

REDWOOD TRUST INC reported quarter ended June 30, 2023 results: net income $1 million, EPS $0.00.

Period: quarter ended June 30, 2023
Net income: $1 million
EPS: $0.00
Result: reported results

Exact text from the filing

GAAP net income available to common stockholders of $1 million or $0.00 per diluted common share

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Source: SEC EDGAR

accession 0000930236-23-000026

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