Redwood Experiences Earnings Decline, Sites Lack of Product

Redwood Trust, the only firm to publicly issue jumbo MBS in the past two years, posted a net profit of just $9 million in the second quarter, half of what it earned in 1Q, telling investors there is a lack of quality mortgages to buy at the right price.

Article source: http://www.nationalmortgagenews.com/dailybriefing/2010_403/redwood-1025996-1.html

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