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Jun 30, 2021
Redwood Trust Q2 2021 Earnings Report
Reported strong earnings and book value growth despite a challenging interest rate environment.
Key Takeaways
Redwood Trust reported GAAP net income of $90 million, or $0.66 per diluted common share, and GAAP book value per common share was $11.46 at June 30, 2021, up 6.5% from March 31, 2021. The company's economic return on book value was 8.2% for the second quarter. Originated $527 million in business purpose loans, up 37% from the first quarter of 2021. Locked $3.9 billion of jumbo residential loans.
GAAP net income was $90 million, or $0.66 per diluted common share
GAAP book value per common share was $11.46 at June 30, 2021, up 6.5% from March 31, 2021
GAAP return on equity was 29% on an annualized basis
Recourse leverage ratio of 2.2x at June 30, 2021
Forward Guidance
Redwood Trust expects to realize transformative scale in the near and long-term by continuing to invest in its infrastructure and forming strategic partnerships.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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