Redwood Trust reports Q1 adjusted EAD 14c, consensus 17c

“We are pleased to report first quarter results that we believe highlight substantial strategic progress and market share gains across our platforms,” said Christopher Abate, Chief Executive Officer of Redwood. “Our Sequoia business produced its highest lock volumes in three years, CoreVest saw ongoing strength in fundings for smaller balance loans and we successfully launched our expanded Aspire loans to our network of loan sellers. With nearly $2.5 billion of distributions in the first quarter, investor demand for the assets we source continues to grow significantly. In line with this demand, we remain focused on migrating capital towards our operating platforms to execute further on our business plans and grow our earnings profile.”