Redwood Trust, Inc. (NYSE: RWT) reported a record production quarter for its Aspire non-QM mortgage business, with $2.1 billion in lock volume for the second quarter ended June 30, 2026, up 32% sequentially from the first quarter, according to a company press release.

Total aggregate mortgage banking volumes across the company's businesses exceeded $8 billion in the quarter. Aspire completed its second and third securitization issuances under the SPIRE shelf and expanded its correspondent network to 140 loan sellers.

The company said it developed and launched proprietary AI-powered tools for non-QM secondary market pricing and guideline comparison and analysis. Chief Executive Officer Christopher J. Abate said the tools "deliver unified loan-level pricing and underwriting functions across bulk and flow channels" and will support a planned Aspire joint venture. Redwood said key terms with an institutional capital partner have been fully negotiated and it expects to begin contributing loans to the joint venture in the third quarter.

On its consolidated financial position, Redwood currently estimates a 1% to 3% decline in GAAP book value per share at June 30, 2026 compared to March 31, 2026. The company estimates an economic return on book value for the second quarter between -1.0% and 1.0%, inclusive of its $0.18 per share quarterly dividend.

Redwood said it maintained $3.5 billion of excess available asset funding capacity at June 30, 2026, and completed a corporate unsecured senior notes offering in May. Full second quarter financial results are expected to be reported on July 28, 2026.