Company: RWT-PA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000930236-25-000029
Chunk: 164

Company: REDWOOD TRUST INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 164
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,190)(2,334)(2,613)Net investments in Sequoia entities (3)(18,095)(12,569)(30,664)9,600 Net investments in SLST (re-performing loans) entities (3)(175)29,121 28,946 (1,407)Net investments in CAFL entities (3)(3,600)439 (3,161)17,742 Other investments (4)(8,252)(13,279)(21,531)(5,687)Risk management derivatives, net16,984 20,631 37,615 6,925 Total investment fair value changes, net(84,711)(5,188)(89,899)22,935 HEI income, NetUnsecuritized HEI(14,306)7,136 (7,170)17,806 Net investments in HEI securitization entities (3)1,225 2,935 4,160 7,064 Total HEI income, net(13,081)10,071 (3,010)24,870 Servicing income, netMSRs(944)1,194 250 3,691 Total Servicing income, net (5)(944)1,194 250 3,691 Fee income, netOther— — — (248)Total Fee Income, net— — — (248)Total Market Valuation Gains, Net$(66,018)$33,153 $(32,865)$73,859 

(1)Represents fair value changes on trading securities that are being used along with risk management derivatives to manage the market risks associated with our Sequoia Mortgage Banking operations.

(2)Mortgage banking activities, net presented above does not include fee income from loan originations or acquisitions, provisions for repurchases, or other expenses that are components of Mortgage banking activities, net presented on our consolidated statements of income, as these amounts do not represent market valuation changes.

(3)Includes changes in fair value of the securitized loans held-for-investment, securitized HEI, REO and the ABS issued at the entities, which, netted together, represent the change in value of our investments at the consolidated VIEs accounted for under the CFE election.

(4)Other investments includes changes in fair value of REO assets.

(5)Other income