Redwood Trust, Inc. (NYSE:RWT, ", Redwood", , the ", Company", ))), a leader in expanding access to housing for homebuyers and renters, today provided the following update regarding its Aspire business and selected consolidated operating results for the second quarter ended June 30, 2026.

Aspire Update

Christopher J. Abate, Chief Executive Officer, commented: "Our mortgage banking businesses continued their momentum in the second quarter, with aggregate volumes of over $8 billion despite continued geopolitical and interest rate volatility, and subdued overall housing market activity. This included another record production quarter from our Aspire non-QM business, which contributed $2.1 billion of lock volume, up 32% sequentially from the first quarter."

Second Quarter Business Update

During the second quarter, Redwood’s core operating businesses continued to execute with strong margins in the face of elevated market volatility. The Company currently estimates a modest 1 to 3% decline in GAAP book value at June 30, 2026 from the end of the first quarter of 2026, inclusive of its Legacy Investments segment, with an economic return on book value(1) for the second quarter currently estimated between (1.0)% and 1.0%, inclusive of its $0.18 per share second quarter dividend. Additionally, the Company maintained its strong liquidity profile, completing a successful corporate unsecured senior notes offering in May, and maintaining $3.5 billion of excess available asset funding capacity at June 30, 2026.