secwatch.observer — SEC 8-K summary
======================================

Issuer:     REDWOOD TRUST INC (RWT)
CIK:        0000930236
Form:       8-K
Filed at:   2024-08-01T23:59:59+00:00
Accession:  0000930236-24-000028
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Redwood Trust Q2 GAAP EPS $0.10, EAD $0.13; book value $8.73; lock volume up 49% QoQ
--------------------------------------------------------------------------------

- GAAP net income $13.8M ($0.10/share); Non-GAAP EAD $18.6M ($0.13/share).
- Book value per share $8.73 vs $8.78 QoQ; economic return 1.3% including $0.16 dividend.
- Residential loan lock volume $2.7B (+49% QoQ); residential investor fundings $459M (+41% QoQ).
- Issued $85M senior unsecured notes due 2029; retired 2024 convertible debt post-Q2; cash ~$275M at July 31.
- Recourse leverage 2.1x; total excess warehouse financing capacity $3.8B.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/930236/000093023624000028/0000930236-24-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/930236/000093023624000028/rwt-20240801.htm
  HTML page:      https://secwatch.observer/filing/0000930236-24-000028

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