---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-036938"
form_type: "8-K"
ticker: "RWT"
cik: "0000930236"
company_name: "REDWOOD TRUST INC"
filed_at: "2025-04-22T23:59:59+00:00"
generated_at: "2026-05-23T09:55:28.726615+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Redwood Trust Q1 2025 jumbo lock volumes surge 73% to $4B; estimated book value up 1-1.5% since March 31

## Summary
- Estimated GAAP book value per share as of April 21, 2025 up 1% to 1.5% from $8.39 at March 31, 2025.
- Jumbo lock volumes reached $4 billion in Q1 2025, a 73% increase from prior quarter and highest since Q3 2021.
- Annualized ROE for the flow production segment was 28% in Q1 2025, with margins above historical target range.
- Reorganized mortgage banking under three brands: Sequoia (QM correspondent), Aspire (non-QM + HEI), and CoreVest (housing investor lending).
- Cites potential policy shifts at GSEs as creating a greenfield opportunity for private-label Redwood platform.

## SEC filing metadata
- accession: 0001104659-25-036938
- form_type: 8-K
- ticker: RWT
- cik: 0000930236
- company_name: REDWOOD TRUST INC
- filed_at: 2025-04-22T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/930236/000110465925036938/0001104659-25-036938-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/930236/000110465925036938/tm2512784d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-036938
- JSON: https://secwatch.observer/filing/0001104659-25-036938.json
- Plain text: https://secwatch.observer/filing/0001104659-25-036938.txt

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