Redwood Trust announces Q3 EAD of 20 cents, surpassing consensus estimate of 17 cents.
Reports Q3 revenue $15M, consensus $30.93M. "The third quarter was extremely productive at Redwood," said Christopher Abate, Chief Executive Officer. "We achieved record mortgage banking production of nearly $7 billion, underscoring the strength of our operating model and ability to significantly grow market share. We meaningfully reduced legacy portfolio holdings as we reposition our balance sheet for increased transaction activity as rates begin to fall. Together, these accomplishments demonstrate strong momentum and our continued focus on delivering returns for shareholders."
