RWTS — what changed in the latest 10-Q
A section-by-section comparison of RWTS's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-05 vs the prior 10-Q · 2026-05-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +132 | −118 | ~50 | 94 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 2 |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings, Risk factors
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-05
Our second quarter 2026 results reflect continued execution against Redwood’s strategy to scale our capital-efficient mortgage banking platforms supported by diversified products, distribution channels, and our joint venture partnerships. During the quarter, combined production across Sequoia, Aspir…
The operating environment remained characterized by constrained housing affordability, limited housing supply, elevated mortgage rates, and continued market volatility. We adopted a more measured operating posture during April and May before activity accelerated as conditions stabilized in June, whe…
Our financial results reflected continued strength across our operating platforms, partially offset by the performance of our Legacy Investments portfolio. Redwood reported a GAAP net loss of $(0.03) per share, compared to a GAAP net loss of $(0.07) per share in the first quarter of 2026, while our …
Our Sequoia platform locked $5.6 billion of loans during the second quarter, compared to $6.5 billion in the first quarter and $3.3 billion in the second quarter of 2025, representing the second-highest quarterly lock volume in Sequoia’s history. New products represented 30% of quarterly lock volume…
Aspire generated record lock volume of approximately $2.1 billion during the second quarter, increasing 31% from $1.6 billion in the first quarter. Aspire’s active seller network expanded to more than 150 loan sellers at June 30, 2026. Aspire distributed approximately $1.3 billion of loans through s…
Text removed vs the prior filing · source: 10-Q · 2026-05-07
Our first quarter 2026 results reflect continued execution against Redwood’s strategy to scale a capital-efficient mortgage banking platform supported by diversified distribution channels and institutional capital partnerships. During the quarter, we generated our third consecutive record level of m…
The operating environment remained characterized by subdued housing activity and affordability challenges, with mortgage applications continuing to track below pre-pandemic levels. Despite this backdrop, Redwood continued to gain market share across its platforms, supported by its established origin…
Our financial results reflected continued strength in operating performance despite increased market volatility late in the quarter. On a consolidated basis, Redwood reported a GAAP net loss of $(0.07) per share, primarily driven by market-driven valuation changes and restructuring expenses, while o…
Our Sequoia platform delivered record quarterly lock volume of $6.5 billion, compared to $5.3 billion in the fourth quarter of 2025 and continued market share gains across both bank and independent mortgage bank counterparties. Distribution activity remained strong, with $5.5 billion of loans sold o…
Aspire continued to scale as a standalone platform in 2026, generating $1.6 billion of lock volume and completing its inaugural securitization transaction during the quarter. Distribution remained diversified, with approximately $1.0 billion of loans sold through a combination of this inaugural secu…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice