Company: RWT-PA
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000930236-25-000020
Chunk: 156

Company: REDWOOD TRUST INC
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 156
---
 our economic investment in securities issued by consolidated SLST securitization entities. For GAAP purposes, we consolidated $1.28 billion of loans and $1.02 billion of ABS issued associated with these investments at March 31, 2025. We consolidated $1.24 billion of loans and $1.01 billion of ABS issued associated with these investments at December 31, 2024.

66

(5)Represents our economic investment in securities issued by consolidated Freddie Mac K-Series securitization entities. For GAAP purposes, we consolidated $424 million of loans and $388 million of ABS issued associated with these investments at March 31, 2025. We consolidated $425 million of loans and $389 million of ABS issued associated with these investments at December 31, 2024.

(6)Represents our economic investment in consolidated Servicing Investment variable interest entities. At March 31, 2025, for GAAP purposes, we consolidated $262 million of servicing investments and $161 million of non-recourse short-term securitization debt, as well as other assets and liabilities for these entities. At December 31, 2024, for GAAP purposes, we consolidated $262 million of servicing investments and $159 million of non-recourse short-term securitization debt, as well as other assets and liabilities for these entities.

(7)At March 31, 2025 and December 31, 2024, represents HEI owned at Redwood of $262 million and $257 million, respectively and our retained economic investment in securities issued by consolidated HEI securitization entities of $50 million and $47 million, respectively. 

The size of our Redwood Investments portfolio increased slightly since December 31, 2024, primarily due to the retention of $138 million of securities from the three Sequoia securitizations during three months ended March 31, 2025, offset by principal payments received on our securitized bridge loans. At both March 31, 2025 and December 31, 2024, 78% of our Redwood Investments portfolio economic interests were retained interests from our securitizations or securitized and unsecuritized bridge loans, respectively, and 22% were purchased from third parties, respectively. See the Investments Detail and Activity section that follows for additional detail on our portfolio investments and their associated borrowings.

Investments Detail and Activity

This section presents additional details on our