---
schema_version: "secwatch.filing_event.v1"
accession: "0000930236-25-000017"
form_type: "8-K"
ticker: "RWT"
cik: "0000930236"
company_name: "REDWOOD TRUST INC"
filed_at: "2025-04-30T23:59:59+00:00"
generated_at: "2026-05-23T03:15:34.677645+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Redwood Trust Q1 net income $14.4M, $0.10 EPS; Sequoia lock volume surges to $4.0B

## Summary
- GAAP net income available to common $14.4M ($0.10/sh) vs Q4 loss of $8.4M; non-GAAP EAD $19.8M ($0.14/sh).
- Book value per common share $8.39 (down $0.07 from Dec 31); economic return on BV 1.3% for Q1.
- Sequoia mortgage banking locked $4.0B loans (up 73% QoQ, 125% YoY); segment net income $25.8M.
- CoreVest funded $482M loans (up 48% YoY); net income $1.3M; EAD ROE 20%.
- Quarterly dividend maintained at $0.18/sh; Q2 to date distributed ~$520M loans through securitizations.

## SEC filing metadata
- accession: 0000930236-25-000017
- form_type: 8-K
- ticker: RWT
- cik: 0000930236
- company_name: REDWOOD TRUST INC
- filed_at: 2025-04-30T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/930236/000093023625000017/0000930236-25-000017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/930236/000093023625000017/rwt-20250430.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000930236-25-000017
- JSON: https://secwatch.observer/filing/0000930236-25-000017.json
- Plain text: https://secwatch.observer/filing/0000930236-25-000017.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.