Redwood Trust reports record Aspire non-QM volume of $2.1B in Q2; preliminary book value down 1-3%

REDWOOD TRUST INC

Aspire non-QM lock volume $2.1B, up 32% sequentially; aggregate mortgage banking volumes over $8B in Q2.
Aspire completed 2nd and 3rd SPIRE securitizations; correspondent network grew to 140 sellers; launched AI-powered pricing and guideline engines.
Expects to form dedicated Aspire JV with institutional capital partner; loan contributions to begin in Q3.
Preliminary Q2 GAAP book value decline 1-3% from Q1; economic return on book value estimated between -1% and 1% inclusive of $0.18 dividend.
Maintained strong liquidity; $3.5B excess asset funding capacity at June 30; full Q2 results on July 28.

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