The company’s mortgage banking activities created net income of $18 million in the third quarter, compared to only $6 million in the second quarter. The company also saw an $8 million increase on its net income generated by mortgage servicing rights.
Things have slowed down considerably in 2014, with Redwood only issuing one jumbo RMBS through its Sequoia platform in the first six months of the year. Redwood issued its second jumbo RMBS in July and now it's prepping its third such offering.
“Redwood continues to be one of the only ways to play a return of private capital in the mortgage market, and we see significant upside to both earnings and dividends in the years to come even is the timeline is extended out,” a FBR report stated.
In what was the most competitive awards program to date, HousingWire is proud to recognize the professional accomplishments of 30 women -- spanning every sector of the U.S. housing economy. Read the stories of our 2014 honorees, and be inspired..
If fair housing bluster were an Olympic event, the podium would be crowded with politicians and corporate mouthpieces. The injustice that once provoked marches and protests now evokes photo-ops and press releases. But have things truly changed? Read More
The sweeping CFPB TILA-RESPA integrated disclosures roll-out will affect almost every residential mortgage loan application that is submitted to a creditor on or after this date. Here, industry expert Jerry Halbrook dives into a breakdown of the wide-ranging impact of the new rule. Read More