Redwood Trust posted a GAAP net loss of $2.9 million, or $(0.03) per share, for the quarter ended June 30, 2026.
Non-GAAP earnings available for distribution were $20.3 million, or $0.15 per share; Core Segments EAD came in at $34 million, or $0.25 per share.
Book value and return
Book value per common share fell to $6.90 from $7.12; economic return on book value was (0.6)%.
Management commentary
CEO Christopher Abate said the company prioritized profitability over volume, adopted a more cautious posture in April and May, then saw improved momentum in June.
Mortgage Banking performance
Mortgage banking production exceeded $8 billion for a second straight quarter; total Mortgage Banking GAAP net income rose from Q1 to .
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