Redwood Trust
Redwood Trust is a publicly traded specialty finance REIT that originates, securitizes, and invests in U.S. residential housing credit through three platforms — Sequoia (prime jumbo), Aspire (non-QM), and CoreVest (business-purpose) — serving institutional investors, mortgage originators, and underserved borrower segments.
- Company typePublic
- Founded1994
- HeadquartersMill Valley, United States
- Headcount251–500
- GTM typeB2B
- OfferingServices
What Redwood Trust does
Redwood Trust, Inc. (NYSE: RWT) is a publicly traded specialty finance company and REIT founded in 1994 and headquartered in Mill Valley, California. The company focuses on credit-sensitive investments across the U.S. housing market, organized around three core residential housing platforms: Sequoia (prime jumbo mortgage securitization), Aspire (non-qualified mortgage lending for self-employed borrowers and real estate investors), and CoreVest (business-purpose lending for rental housing investors). Complementary businesses include Redwood Investments (a portfolio of assets sourced through the three platforms) and RWT Horizons (a unified technology and AI platform supporting internal operations and ecosystem investments). Customers span institutional investors (pension funds, insurance companies, and asset managers) purchasing securitized product, mortgage originators seeking capital and distribution, and individual borrowers in prime jumbo, non-QM, and rental-housing segments.
Redwood makes money through a hybrid of transaction-based and recurring economics. Mortgage banking activities generate gains on loan sales and securitization revenues across the Sequoia, Aspire, and CoreVest platforms, while the housing credit investment portfolio generates interest income, dividends, and fair-value changes on retained securities. As a REIT, the company distributes at least 90% of REIT taxable income to shareholders, currently paying a $0.18 quarterly common dividend (12.6% annualized yield) and a $0.625 quarterly Series A preferred dividend. The go-to-market combines direct institutional sales, third-party securitization, joint ventures (notably the $8 billion Castlelake purchasing-power partnership), and publicly traded equity.
The technology stack centers on the RWT Horizons platform, with operational AI embedded through the AgenTeq workflow system (2,500+ workflows and 200,000+ AI queries as of March 2026). Sequoia closed an inaugural $482 million medical-professional loan securitization (SEMT 2026-MED1) and Aspire closed an inaugural $391 million non-QM securitization (SPIRE 2026-1) in Q1 2026. Q1 2026 GAAP revenue was $63.9 million against record mortgage banking production of $8.5 billion (up 17% sequentially), with cost per loan at 18 basis points and full-year 2025 Return on Capital for Mortgage Banking at 26%.
Redwood Trust firmographics
Firmographics- Name
- Redwood Trust
- Legal name
- Redwood Trust, Inc.
- Website
- https://redwoodtrust.com
- Company type
- Public
- Founded year
- 1994
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Redwood Trust is a publicly traded specialty finance REIT that originates, securitizes, and invests in U.S. residential housing credit through three platforms — Sequoia (prime jumbo), Aspire (non-QM), and CoreVest (business-purpose) — serving institutional investors, mortgage originators, and underserved borrower segments.
- Ownership category
- akta.pro rank
Redwood Trust industry classification
Industry- Product category
- Specialty Finance / Residential Mortgage Banking
- NAICS
- Mortgage and Nonmortgage Loan Brokers (522310), Trusts, Estates, and Agency Accounts (52592)
- SIC
- Mortgage Bankers & Loan Correspondents (6162), Real Estate Investment Trusts (6798)
- akta.pro primary industry
- Central Securities Depository (CSD) & Securities Settlement Services (FSAAAOAD)
Keywords
Where Redwood Trust is headquartered
LocationHeadquarters
- HQ city
- Mill Valley
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
Redwood Trust business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Infrastructure
Revenue model
- Mortgage Banking Activities: Revenue generated from originating, acquiring, and securitizing residential mortgages through Sequoia, Aspire, and CoreVest platforms. Includes gains on loan sales, securitization revenues, and servicing-related income.
- Housing Credit Investments: Returns from investment portfolio composed of residential, business purpose and multifamily investments sourced through the company's operating platforms. Includes interest income, dividend income, and fair value changes on retained securities.
- Dividend Income to Shareholders: As a REIT, Redwood distributes at least 90% of annual REIT income to shareholders as dividends. Common stock dividend of $0.18 per share (12.6% annualized yield) and Series A preferred dividend of $0.625 per share.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Quarterly | Common Stock Dividend |
| Subscription | Quarterly | Series A Preferred Stock Dividend |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels6 records
Redwood Trust product offering
Product offeringCore offering
Redwood Trust is a specialty finance company that originates, acquires, and securitizes residential mortgage loans through its three core platforms: Sequoia (prime residential mortgage securitization), Aspire (non-qualified mortgage lending for self-employed borrowers and real estate investors), and CoreVest (business purpose lending for rental housing investors). The company packages these loans into asset-backed securities sold to institutional investors, while retaining subordinated and interest-only securities in its consolidated investment portfolio.
Product overview
Redwood Trust operates as a specialty finance company offering a platform-plus-modules architecture centered on three core residential housing-focused operating platforms: Sequoia, Aspire, and CoreVest, alongside complementary Redwood Investments portfolio and RWT Horizons technology platform. Sequoia handles residential mortgage securitization for prime-quality loans. Aspire provides non-QM lending for self-employed borrowers and real estate investors. CoreVest focuses on business purpose lending for rental housing investors. Redwood Investments manages assets sourced through these platforms, while RWT Horizons drives internal AI innovation and strategic technology investments.
Differentiator
Problem solved
Functional benefit
Products and services
- Sequoia Residential Mortgage Securitization Platform Acquires prime-quality residential mortgage loans and creates/issue asset-backed securities backed by these loans; most senior ABS sold to third-party investors while Redwood retains subordinated ABS and interest-only securities. Designed for prime jumbo mortgage financing and residential mortgage-backed securities investment.
- Aspire Non-QM Lending Platform Non-qualified mortgage platform serving self-employed borrowers and real estate investors who fall outside traditional mortgage parameters. Provides flexible underwriting for non-verified income, complex income structures, and investment property financing. Expanded in early 2025 with $3 billion+ in locked production.
- CoreVest Business Purpose Lending Platform Business purpose lending platform providing financing solutions for rental housing investors, including bridge loans, term loans, and revolving credit facilities for single-family and small multifamily properties.
- Redwood Investments Investment portfolio primarily composed of residential, business purpose, and multifamily assets sourced through Sequoia, Aspire, and CoreVest platforms. Generates interest income, dividend income, and fair value changes on retained securities.
Quantifiable outcome
- Record $8.5 billion mortgage banking volume in Q1 2026, a 17% quarter-over-quarter increase
- +3 more outcomes
Companies that use Redwood Trust
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles4 records
Redwood Trust technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Redwood Trust partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- CastlelakecoreStrategic joint venture creating up to $8 billion in purchasing power for prime jumbo mortgage loans. This capital partnership significantly expands Redwood's Sequoia platform capacity and positions the company to serve a broader range of borrowers and investors in the prime jumbo mortgage market.
Scale indicators14 records
Recent moves7 records
Expansion highlights6 records
Redwood Trust competitors and assessment
Company assessmentDirect peers
- Annaly Capital Management: Large mortgage REIT investing primarily in agency MBS and residential credit. Most directly comparable as a publicly traded mortgage REIT with investment portfolio focus, and Redwood's CFO Brooke Carillo joined from Annaly.
- AGNC Investment: Agency mortgage REIT focused on residential mortgage-backed securities with similar dividend-oriented structure. Comparable as a publicly traded mortgage REIT competing for housing credit investor capital.
- PennyMac Financial Services: Public mortgage banking and servicing company with origination, securitization, and investment activities. Directly comparable in mortgage banking production, securitization execution, and servicing operations.
- loanDepot: Public mortgage originator and servicer focused on retail and partner-channel origination. Comparable in mortgage production volume, securitization execution, and direct-to-consumer distribution.
- Guild Holdings Company: Public mortgage origination company with retail and partner channels. Comparable in mortgage banking production, jumbos, and government/agency execution against Redwood's Sequoia and Aspire flows.
- Invesco Mortgage Capital: Mortgage REIT investing in residential and commercial mortgage securities. Comparable as a publicly traded mortgage REIT competing for the same housing credit investor base.
Broad incumbents
- Blackstone Mortgage Trust: Public commercial mortgage REIT managed by Blackstone. Comparable as a Blackstone-backed mortgage REIT but skews to senior commercial loans rather than residential housing credit.
- Starwood Property Trust: Diversified mortgage and real estate finance REIT. Comparable as a public mortgage REIT with residential and commercial credit exposure, though broader in mandate than Redwood's residential focus.
- KKR Real Estate Finance Trust: Externally managed mortgage REIT focused on senior commercial real estate loans. Comparable as a public mortgage REIT with institutional capital backing, though primarily commercial rather than residential.
Emerging players
- Angel Oak Mortgage Solutions: Non-QM mortgage originator and REIT. Most directly comparable to Redwood's Aspire platform with shared focus on non-QM, self-employed, and investor borrowers; emerging scale relative to Redwood.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Redwood Trust social profiles
Digital presenceRedwood Trust financial estimates
Financial estimateRevenue estimate
Valuation estimate
Redwood Trust leadership team
Management profileNumber of profiles
Profiles12 records
Redwood Trust subsidiaries and ownership
Company hierarchySubsidiaries4 records
Redwood Trust funding detail
Funding detailFunding overview
Funding rounds11 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Redwood Trust M&A and investment
M&A and investmentM&A
Investments10 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Redwood Trust
What does Redwood Trust do?
Redwood Trust is a specialty finance company that originates, acquires, and securitizes residential mortgage loans through its three core platforms: Sequoia (prime residential mortgage securitization), Aspire (non-qualified mortgage lending for self-employed borrowers and real estate investors), and CoreVest (business purpose lending for rental housing investors). The company packages these loans into asset-backed securities sold to institutional investors, while retaining subordinated and interest-only securities in its consolidated investment portfolio.
Is Redwood Trust a public or private company?
Redwood Trust is a public company. It is classified as public and is currently operating.
When was Redwood Trust founded?
Redwood Trust was founded in 1994. It employs 251 to 500 people.
Where is Redwood Trust based?
Redwood Trust is headquartered in Mill Valley, United States, in the North America region.
How does Redwood Trust make money?
Three revenue lines are on record. Mortgage Banking Activities are the primary driver. The others are housing Credit Investments and dividend Income to Shareholders.
Who are Redwood Trust's main competitors?
Direct peers on record are Annaly Capital Management, AGNC Investment, PennyMac Financial Services, loanDepot, Guild Holdings Company and Invesco Mortgage Capital. Broad incumbents are Blackstone Mortgage Trust, Starwood Property Trust and KKR Real Estate Finance Trust. Angel Oak Mortgage Solutions is listed as an emerging player.
Does Redwood Trust have an API?
No public API is recorded for Redwood Trust.
What industry is Redwood Trust in?
Redwood Trust's product category is Specialty Finance / Residential Mortgage Banking. Its primary akta.pro industry code is FSAAAOAD, Central Securities Depository (CSD) & Securities Settlement Services. Its NAICS code is 522310 and its SIC code is 6162.