Redwood Trust, Inc. Q4 2025 Earnings Call Summary

Achieved record annual production of $23 billion across Sequoia, CoreVest, and Aspire platforms, driven by increased market share and expanded originator networks. Successfully transitioned capital allocation with over 80% now invested in core mortgage banking and operating activities, up from 57% in 2024. Accelerated the wind-down of the legacy investment portfolio, reducing the bridge portfolio principal by nearly 40% in Q4 to unlock capital for higher-return segments. Leveraged a competitive moat ...