Low interest rates sent Redwood Trust's net income down again in the first quarter of 2015, falling from $27 million in the fourth quarter of 2014 to $15 million in the first quarter. In a letter to shareholders, Redwood’s CEO, Marty Hughes, and president, Brett Nicholas, said they were “disappointed” by the results of the first quarter.
Despite a "challenging" 2014, Redwood Trust plans to greatly increase its loan acquisition activity in 2015. In a letter to shareholders, Redwood CEO Marty Hughes and President Brett Nichols, said that the REIT plans to acquire $15 billion in loans in 2015, an increase of 67% over 2014.
Real estate investment trust stocks stayed level after recording a steady decline Monday morning due to reports of negative investor sentiment. The rest of the HW 30 did not fare much better, with a majority of the stocks landing in the red.
The HW 30 – a composite of housing and mortgage finance stocks – rose Thursday as the government reopened, allowing agencies like the Federal Housing Administration to return to the business of handling FHA loans.
The darlings of 2014, the single-family housing investment and rental businesses, didn’t dominate like last year, but they still had a strong showing. After snagging four of the top five spots on the 2014 HW Fast50, two SFRs placed in the top five in 2015 and three made the top 50..
Bank loyalty is not a factor for borrowers in shopping for a mortgage loan. Borrowers tend to select a mortgage originator based on product, price and their expectation for a convenient transaction process. Read More