secwatch.observer — SEC 8-K summary
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Issuer:     REDWOOD TRUST INC (RWT)
CIK:        0000930236
Form:       8-K
Filed at:   2023-07-27T23:59:59+00:00
Accession:  0000930236-23-000026
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/930236/000093023623000026/0000930236-23-000026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/930236/000093023623000026/rwt-20230727.htm
  HTML page:      https://secwatch.observer/filing/0000930236-23-000026

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer