Redwood Trust Loan Acquisition Costs increased by 23.7% to $6.73M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 88.6%, from $3.57M to $6.73M. Over 4 years (FY 2021 to FY 2025), Loan Acquisition Costs shows an upward trend with a 2.8% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
An increase may indicate higher competition for loan supply or increased volume, while a decrease suggests improved sourcing efficiency or lower origination activity.
Represents the direct costs incurred to originate or purchase mortgage loans from third-party originators. These costs a...
Standard across mortgage REITs and mortgage banking firms, often compared as a percentage of total loan volume.
other_loan_acquisition_costs| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $3.75M | $4.62M | $4.29M | $4.47M | $3.48M | $2.43M | $1.40M | $1.29M | $1.44M | $1.88M | $2.55M | $2.24M | $3.66M | $3.18M | $3.60M | $3.57M | $4.78M | $4.36M | $5.44M | $6.73M |
| QoQ Change | — | +23.3% | -7.1% | +4.1% | -22.1% | -30.3% | -42.5% | -7.6% | +12.0% | +30.2% | +35.8% | -12.4% | +63.8% | -13.3% | +13.3% | -0.8% | +34.0% | -8.9% | +24.9% | +23.7% |
| YoY Change | — | — | — | — | -7.2% | -47.5% | -67.5% | -71.1% | -58.5% | -22.5% | +83.0% | +73.5% | +153.7% | +68.9% | +40.9% | +59.5% | +30.5% | +37.1% | +51.2% | +88.6% |
| Segment | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|
| CoreVest | $3.51M | $1.80M | $2.67M | $2.84M |
| Sequoia | $1.27M | $2.40M | $2.77M | $2.84M |
| Aspire | — | — | — | $1.05M |
| Legacy Investments | $0.00 | $156.00K | $1.00K | $0.00 |
| Redwood Investments | $0.00 | $0.00 | $0.00 | $0.00 |
| Total | $4.78M | $4.36M | $5.44M | $6.73M |
| Segment | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 |
|---|---|---|---|---|---|---|---|---|
| Residential Investor Mortgage Banking | — | — | — | — | — | $1.66M | $2.43M | $1.89M |
| Residential Consumer Mortgage Banking | $237.00K | $175.00K | $149.00K | $395.00K | — | $572.00K | $980.00K | $1.29M |
| Business Purpose Mortgage Banking | $1.16M | $1.11M | $1.30M | $1.49M | — | — | — | — |
| Investment Portfolio | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $244.00K | $0.00 |
| Total | $1.40M | $1.29M | $1.44M | $1.88M | $2.55M | $2.24M | $3.66M | $3.18M |
Business Purpose Mortgage Banking, Investment Portfolio, Residential Consumer Mortgage Banking, Residential Investor Mortgage Banking were previously reported and have since been discontinued or reclassified. Only currently active segments are shown in the chart.
| Segment | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '24 | Q1 '25 |
|---|---|---|---|---|---|
| CoreVest Mortgage Banking | $2.17M | $2.17M | $2.17M | $2.58M | $2.50M |
| Sequoia Mortgage Banking | $771.25K | $771.25K | $771.25K | $1.02M | $1.07M |
| Total | $4.47M | $3.48M | $2.43M | $3.60M | $3.57M |
CoreVest Mortgage Banking, Sequoia Mortgage Banking were previously reported and have since been discontinued or reclassified. Only currently active segments are shown in the chart.