Company: RWT-PA
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000930236-25-000037
Chunk: 274

Company: REDWOOD TRUST INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 274
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audited)Note 17. Asset-Backed Securities Issued - (continued)

December 31, 2024Unpaid Principal BalanceCarrying ValueWeighted Average Interest RateStated MaturitiesNumber of Series(Dollars in Thousands)Sequoia$9,220,157 $8,585,077 2.66% to 8.52%2028-206354CAFL (1)2,752,657 2,687,977 2.76% to 7.89%2027-203319Freddie Mac SLST1,075,249 1,005,945 3.50%2028-20292Freddie Mac K-Series393,762 389,434 3.41%20251HEI212,484 211,097 3.96% to 6.71%2052-20532ABS Issued at Fair Value$13,654,309 $12,879,530 CAFL244,772 244,772 2.31% to 4.38%20292Freddie Mac SLST148,180 145,902 7.50%20591ABS Issued at Amortized Cost$392,952 $390,674 Total ABS Issued$14,047,261 $13,270,204 (1)At September 30, 2025, includes ABS issued from two consolidated VIE entities formed in connection with the financing of residential investor bridge loans sponsored by one of our joint ventures. At December 31, 2024 includes ABS issued from one consolidated VIE entity formed in connection with the financing of residential investor bridge loans sponsored by one of our joint ventures.One of the ABS issued by the CAFL bridge entity during the fourth quarter of 2024 is subject to an optional redemption in May 2027 and beginning in June 2027, the interest rate on the ABS issued increases by 1.5% through final maturity in November 2031. The securitization is structured with $300 million of total funding capacity and a feature to allow reinvestment of loan payoffs for the first 24 months of the transaction (through November 2026), unless an amortization event occurs prior to the expiration of the 24-month reinvestment period. Amortization trigger events include, among other events, delinquency rates or default rates exceeding specified thresholds for three consecutive periods, or the effective advance rate exceeding