Redwood Trust posted another quarter of losses in the second quarter tied to its efforts to wind down legacy assets, including multifamily bridge loans investments.
Issuance of expanded-credit mortgages declined by 4.8% on a quarterly basis in the second quarter, with purchase-mortgage volume down. (Includes three data charts.)
Some debt service coverage ratio loan borrowers are deliberately going delinquent while they renovate a property to improve its long-term rental performance.