GAAP book value per common share was $8.74 at September 30, relative to $8.73 per share at June 30, 2024. Economic return on book value of 2.1% for the third quarter and 6.8% year to date 2024. “Our operating platforms delivered their strongest performance in over three years, underscoring our deepening partnerships, sustained product demand and enhanced distribution capabilities. As evidenced by the recent increase to our common dividend, our results reflect continued progress in growing earnings and deploying capital accretively. As we progress through the final quarter of the year, we are excited to embrace this new chapter for our Company, with several favorable tailwinds propelling us forward. A more accommodative monetary policy and increasing clarity in bank regulations underscore the opportunity we see for Redwood. We are witnessing increased demand for our products in the non-Agency market and are well-positioned to leverage our leadership, expertise, and innovative solutions to meet this growing need,” said Christopher Abate, Chief Executive Officer of Redwood Trust (RWT).
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