- Providing a Q1 business update, Redwood Trust (RWT +1.2%) locked $4.6B of residential loans with more than 110 discrete sellers during the quarter, with a mix of 95% Select loans and 5% Choice loans.
- That's up from the $3.8B of residential loans with more than 90 discrete sellers in Q4 2020.
- Originates $384M of business purpose loans, with funding mix of 66% single-family rental loans and 34% bridge loans.
- That amount declined from $446M of business purpose loans originated in Q4.
- Estimates the fair value of its securities investment portfolio increased ~5% during the quarter, up from the ~3% increase it estimated in Q4.
- Completed three securitizations across residential and business-purpose lending — SEMT 2021-1 backed by $527M and SEMT 2021-2 backed by $348M of jumbo residential loans; and ramp-up on CAFL 2020-P1, providing $200M in financing for single-family rental loans.
- Redwood Trust will release Q1 results on April 28 after the market close and hold its earnings call at 5:00 PM ET that day.