Redwood Trust, Inc. (RWT) is a public company. Redwood Trust, Inc. (NYSE: RWT) is a specialty finance company focused on making credit sensitive investments in residential loans and other mortgage-related assets, with the goal of delivering a stable and growing stream of attractive earnings and dividends for our shareholders. We also earn income through our residential mortgage banking activities. Redwood Trust, Inc. was established in 1994, is internally managed, and structured as a real estate investment trust (“REIT”) for tax purposes.

Our employees are a team of disciplined, dedicated and talented professionals who do what it takes to make the Company a leader in innovation and reputation. We value everyone's contribution, actively soliciting feedback at all levels within the organization. Work gets done in a non-hierarchical, hard-working and fun environment. Founded in 1994. It has 260 employees. IPO 1995.

Transcript

Operator

Greetings, and welcome to the Redwood Trust, Inc. second quarter 2026 financial results conference call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Natasha Fatheree, FP&A leader. Thank you. You may begin.

Natasha Fatheree — Senior VP of Finance

Thank you, operator. Hello, everyone, and thank you for joining us today for Redwood's second quarter 2026 earnings conference call. With me on today's call are Chris Abate, Chief Executive Officer, Dash Robinson, President, Brooke Carillo, Chief Financial Officer, and Abhinav Asthana, our Chief Technology Officer. Before we begin today, I want to remind you that certain statements made during management's presentation today with respect to future financial and business performance may constitute forward-looking statements. Forward-looking statements are based on current expectations, forecasts, and assumptions, which include risks and uncertainties that could cause actual results to differ materially. We encourage you to read the company's annual report on Form 10-K and quarterly report on Form 10-Q, which provide a description of some of the factors that could have a material impact on the company's performance and cause