Seeking Alpha

Redwood Trust details difficult quarter for mortgages

  • Net income per share of $0.71 does not reflect $0.22 per share of negative valuation adjustments that should be realized in Q3. Book value per share of $14.69 up 1% from Q1, up 22.4% from a year ago.
  • Earnings call at 5 ET. Q2 results. (PR)
  • RWT's quarterly Redwood Review is a must-read for any mortgage investor (REM, MORT, MORL). From the opening letter: "It's too early to say the worst of the recent market disruptions are behind us, but it does appear that the agency and non-agency RMBS markets are firming somewhat. We are beginning to see spread premiums on AAA RMBS stabilize."
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