Redwood Trust reported a GAAP net income available to common stockholders of $29 million, or $0.21 per diluted common share, and non-GAAP Earnings Available for Distribution (EAD) of $11 million, or $0.08 per basic common share. The company's GAAP book value per common share was $8.78 at March 31, 2024, a 1.6% increase from the prior quarter. Residential Consumer lock volumes and securitization activity reached their highest levels since the beginning of the Fed hiking cycle.