afternoon, and everyone. Lisa, good Thanks,
banking by strong solid the During of earnings our demonstrated model agility mortgage the optimization results, as activities. investment through quarter, and our as business delivering portfolio we second well on strength
for While a to varying steep strategic decline on impacts in efficiencies. make demand business, implement initiatives, continue on scale and rates, our with progress our good yield, had robust our platform operational coupled we
first the manifested from recurring market its trade On a themes a remarks. volatility, just and the in namely weaker level, broader saw contributing and around point U.S./China talks cited to we continued global global some yesterday from as speculation in which rate cut. fed downside fed quarter, know, you uncertainty macro projections risks XX basis trade cuts, tensions growth around
to with Meanwhile, contrast these in unemployment positive risks U.S. consumer in for continue years data economic economy strength rates the global XX demand. the and lowest
expecting fed working lower some fed compelled rates may of surprises further. report that payroll have this any Assuming have we to Friday’s the knowledge the aren’t might
playing be to to near-term continue positioned will we the are we While long market responsive from in benefit see game we housing conditions, market. the and the believe we to well are shifts
GAAP our Our remained per dividend. income second stable $XX.XX net GAAP value at share, the with covering book quarter
per non-GAAP X% from Our share, were quarter. first earnings up $X.XX core the
decline volume the driving XX% loan from first in in increase over benefited an business banking purchase interest mortgage residential Our quarter. rates, the almost
Additionally, range. long-term gross our margins exceeded target
are and platform in operational overall profitably. far We the business. grow benefiting we this achieved scaling capital efficiencies for thus to are And returns XXXX our our
our across operating reach results. to first the Arches X quarter finance, our housing marking expand continue We with of full second quarter
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This investments July our Collin more position and we operating Dash new million results and in long, over will talk didn’t into alone. their $XXX as take capital in remarks. about deployed
like I’d my finance comments remaining towards exciting some So housing transition changes unfolding. reform we see to and
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know, led private in securitization the sector in the resurgence all post-crisis housing Redwood XXXX. you first As issuing has finance since
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Patch if the remarks, the and or from allow short a expire related to to In facilitate plans currently stated that smooth orderly after CFPB transition January Patch. in a XXXX extension it necessary, the to GSE away GSE
the More core ultimately policies directly consumers, shares that Finance broadly, Agency Director private the Housing his shift playing transparent to has been the predecessor. to level dramatic determination Federal sector, field of speaks the publication. referenced from to a benefits of the departure to directors regularly GSE his stating CFPB May our a more market of
as of at raising the their create loans of loan balance director with congressional requiring fees of financing; action. field second a conservator regulator guaranteed include GSE or and/or as tools to more GSE such as home part level The guidelines; without discontinuing products, a first has disposal number These loss transfer more sector. to risk happen underwriting his eligibility GSEs even make risk programs playing private the certain sell altering the and that to for GSE high GSEs
to level has for regulatory expensive, sector. and would additional private that capital playing make with the the a GSE’s transfer holding risk director suggested risk regimes catalyst addition, more field further the credit In and to changes an incentive
Taken model together, with strengths. themes and aligned core fully Redwood’s represent these clear that policy direction a business is federal of housing finance
time. past have room the the the opportunity months in had our some potential housing noted is still reform market have several past firm. than but the we scores change We This more there the that for in leaves of is for remains outcomes for optimism of for Redwood revolutionary the quite range of quality the and broad, and case
turn saying executing continue it things strategic I up good we progress make and to I’d by our over initiatives. Before Collin, to on sum Dash
portfolio a sheet, We’re the built entering disciplined the credit a performance. strong second management healthy and with on balance half cost year of
while dividends market responsive at can aimed be to that sustainable shareholders. support to continue higher to position will investments overall returns returns We conditions, for pursuing us driving higher and
President. With Dash, to that, Redwood’s I’ll hand the call off
