Redwood Trust, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
October 27, 2022 at 04:15 pm EDT
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Redwood Trust, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported net loss was USD 50 million compared to net income of USD 88 million a year ago. Basic loss per share from continuing operations was USD 0.44 compared to basic earnings per share from continuing operations of USD 0.75 a year ago. Diluted loss per share from continuing operations was USD 0.44 compared to diluted earnings per share from continuing operations of USD 0.65 a year ago.
For the nine months, net loss was USD 119 million compared to net income of USD 276 million a year ago. Basic loss per share from continuing operations was USD 1.04 compared to basic earnings per share from continuing operations of USD 2.36 a year ago. Diluted loss per share from continuing operations was USD 1.04 compared to diluted earnings per share from continuing operations of USD 2.03 a year ago.
Redwood Trust, Inc. is a specialty finance company focused on several distinct areas of housing credit. The Company's segments include Residential Consumer Mortgage Banking, Residential Investor Mortgage Banking, and Investment Portfolio. The Residential Consumer Mortgage Banking segment consists of a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale to whole loan buyers, securitization through its SEMT (Sequoia) private-label securitization program, or transfer into its investment portfolio. The Residential Investor Mortgage Banking segment consists of a platform that originates business purpose lending loans for subsequent securitization, sale, or transfer into its investment portfolio. The Investment Portfolio segment consists of organic investments sourced through the Company's mortgage banking operations. Additionally, through RWT Horizons, its venture investing initiative, the Company invests in early-stage companies.
REDWOOD TRUST, INC. 
