Rate-term refinances and loans eligible for sale to the GSEs helped to increase issuance of prime non-agency MBS in 2025. (Includes three data tables.)

Redwood Trust generated $20.0 million of net income in the fourth quarter of 2025, recovering from a $7.7 million loss in the third quarter. The REIT is also planning to launch a new shelf for expanded-credit MBS.

The wholesale lender’s goals include increasing brand awareness, geographic expansion and improving service levels.