---
schema_version: "secwatch.filing_event.v1"
accession: "0000930236-25-000023"
form_type: "8-K"
ticker: "RWT"
cik: "0000930236"
company_name: "REDWOOD TRUST INC"
filed_at: "2025-07-30T23:59:59+00:00"
generated_at: "2026-05-17T23:28:19.612463+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Redwood Trust Q2 GAAP loss $100.2M ($0.76/sh); book value falls to $7.49; accelerates legacy wind-down

## Summary
- GAAP net loss $100.2M ($0.76/sh) vs prior Q income $14.3M; book value per share dropped to $7.49 from $8.39.
- Non-GAAP Core Segments EAD $25.0M ($0.18/sh) vs $28.0M ($0.20/sh) in Q1; new Legacy Investments segment posted $104M loss.
- Accelerating legacy portfolio wind-down; expects to generate $200-$250M incremental capital by year-end 2025.
- Share repurchase authorization increased to $150M; 2.4M shares repurchased since June 2025 with plans to expand.
- Sequoia mortgage banking net income $22.2M, CoreVest $6.1M, Redwood Investments $11.9M; combined mortgage banking GAAP ROE >20%.

## SEC filing metadata
- accession: 0000930236-25-000023
- form_type: 8-K
- ticker: RWT
- cik: 0000930236
- company_name: REDWOOD TRUST INC
- filed_at: 2025-07-30T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/930236/000093023625000023/0000930236-25-000023-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/930236/000093023625000023/rwt-20250730.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000930236-25-000023
- JSON: https://secwatch.observer/filing/0000930236-25-000023.json
- Plain text: https://secwatch.observer/filing/0000930236-25-000023.txt

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