secwatch.observer — SEC 8-K summary
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Issuer:     REDWOOD TRUST INC (RWT)
CIK:        0000930236
Form:       8-K
Filed at:   2026-02-11T23:59:59+00:00
Accession:  0000930236-26-000003
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Redwood Trust Q4 GAAP net income $18.3M; record $7.3B platform production drives Core Segments EAD $0.33/sh
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- GAAP net income $18.3M ($0.13/sh) vs Q3 loss; Core Segments EAD $43.2M ($0.33/sh).
- Combined Mortgage Banking production $7.3B in Q4; full-year volume $23B (+111% YoY), record GAAP net income $146.2M.
- Sequoia locks $6.8B (+8% QoQ); gain-on-sale margin 127 bps (exceeded 75-100 target).
- GAAP book value $7.36; repurchased 2.7M shares for $15M; raised $100M unsecured bonds.
- Legacy Investments capital allocation down to 19% from 28%; segment loss improved to $(18.6)M from $(22.2)M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/930236/000093023626000003/0000930236-26-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/930236/000093023626000003/rwt-20260211.htm
  HTML page:      https://secwatch.observer/filing/0000930236-26-000003

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