Redwood Trust Inc (NYSE: RWT) is a specialty finance company focused on residential mortgage banking and housing credit investments. It makes money through net interest income on mortgage-related assets it holds on its balance sheet, gain-on-sale income from originating and securitizing residential and business purpose loans, and fees generated across its mortgage banking platforms. The filing, a 10-K for the fiscal year ended and filed 2026-02-27 (accession 000093023626000007), does not supply sufficient segment revenue detail, customer counts, or competitor names in the excerpts provided to support further quantitative description. Redwood Trust is structured as a real estate investment trust, which requires it to distribute the substantial majority of taxable income to shareholders as dividends. Its capital structure is characteristically debt-heavy, as is typical for mortgage finance businesses that warehouse and securitize loan collateral.

Revenue model

Net interest income on held mortgage assets, gain-on-sale from loan origination and securitization, and mortgage banking fees. REIT structure requires distribution of substantial taxable income as dividends.

Products and services

Residential mortgage banking, business purpose loans, housing credit investments, mortgage-backed securitizations.

Customers and end markets

Residential real estate borrowers, business purpose real estate borrowers, housing credit investors. Specific customer counts not disclosed in the provided filing excerpts.

Value-chain role

Mortgage originator, securitizer, and balance-sheet investor in residential and business purpose mortgage credit.

Geographic exposure

United States. Specific geographic mix not detailed in the provided filing excerpts.

Source: SEC 10-K, filed 2026-02-27

Industry: Real Estate Investment Trusts Peers: MFA Financial Inc Annaly Capital Management Inc Ares Commercial Real Estate Corp ARMOUR Residential REIT Inc Brightspire Capital Inc Broadmark Realty Capital Inc. Dynex Capital Inc Ellington Financial Inc Adamas Trust Inc TPG RE Finance Trust Inc