Company: RWT-PA
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000930236-25-000037
Chunk: 70

Company: REDWOOD TRUST INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 70
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General and administrative expenses(21,325)(30,786)(4,477)(95)(56,478)(113,161)Portfolio management costs— — (8,178)(15,291)(31)(23,500)Loan acquisition costs(4,733)(7,816)— (155)— (12,704)Other expenses— (6,416)(6,709)(500)— (13,625)(Provision for) benefit from income taxes(22,015)975 1,841 1,964 58 (17,177)Net Income (Loss) (2)$82,289 $12,646 $47,197 $(128,317)$(103,864)$(90,049)Total Assets$2,659,250 $393,790 $16,906,766 $2,305,179 $335,781 $22,600,766 (1)Represents market valuation changes of derivatives that were used to manage risks associated with our mortgage banking operations, Redwood Investments and Legacy Investments. Mortgage banking activities, net, also includes other derivative financial instruments such as loan purchase commitments and interest rate locks. (2)Net Income (Loss) by segment is also referred to as Segment Contribution.

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REDWOOD TRUST, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS September 30, 2025(Unaudited) Note 4. Segment Information - (continued)

Three Months Ended September 30, 2024(In Thousands)Sequoia Mortgage BankingCoreVest Mortgage BankingRedwood InvestmentsLegacy InvestmentsCorporate/OtherTotalInterest income$26,318 $4,868 $177,136 $39,921 $400 $248,643 Interest expense(16,770)(3,099)(150,238)(38,445)(14,593)(223,145)Net interest income (expense)9,548 1,769 26,898 1,476 (14,193)25,498 Non-interest income (loss)Mortgage banking activities, net, excluding risk management derivatives(7,336)12,303 — — — 4,967 Risk management derivatives gains, net (1)34,051 551 — — — 34,602 Total Mortgage banking activities, net26,715 12,854 —