Redwood Trust Q2 GAAP net loss $0.03/sh; mortgage banking production exceeds $8B

REDWOOD TRUST INC

GAAP net loss of $(2.9)M ($0.03/sh); non-GAAP EAD $0.15/sh, Core Segments EAD $0.25/sh.
Mortgage banking production >$8B for second straight quarter, nearly double YoY; total platforms GAAP net income $40.1M (+9% QoQ).
Book value per share fell to $6.90 from $7.12; economic return (0.6)%; dividend maintained at $0.18/sh.
Sequoia locked $5.6B loans, Aspire record $2.1B; completed three securitizations in one week.
Closed $500M warehouse facility for Castlelake JV; total excess warehouse capacity $3.7B.

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