Company: RWT-PA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000930236-25-000029
Chunk: 255

Company: REDWOOD TRUST INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 255
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-for-investment at fair value— 2,270,879 — 944,217 3,215,096 Total Residential Investor Loans$174,808 $2,270,879 $949,264 $944,217 $4,339,168 December 31, 2024Residential Investor TermResidential Investor Bridge(In Thousands)UnsecuritizedSecuritizedUnsecuritizedSecuritizedTotalHeld-for-sale at fair value$158,637 $— $78,587 $— $237,224 Held-for-investment at fair value— 2,485,069 1,041,694 823,103 4,349,866 Total Residential Investor Loans$158,637 $2,485,069 $1,120,281 $823,103 $4,587,090 (1)At June 30, 2025, Residential investor bridge loans held-for-sale include $25 million of loans recorded at the lower of cost or market value for which the carrying value approximates the fair value. (2)At June 30, 2025, held-for-sale loans include $886 million of unsecuritized bridge loans and $50 million of unsecuritized term loans that were reported in the Legacy Investments segmentNearly all of the outstanding residential investor term loans at June 30, 2025 were first-lien, fixed-rate loans with original maturities of three, five, seven, or ten years. The outstanding residential investor bridge loans held-for-investment at June 30, 2025 were first-lien, interest-only loans with original maturities of 8 to 36 months and were comprised of 43% one-month SOFR-indexed adjustable-rate loans, and 57% fixed-rate loans.The change in fair value of residential investor loans from December 31, 2024 to June 30, 2025 reflects both realized and anticipated changes in portfolio performance and composition. The overall decline in fair value was primarily attributable to the 

26

REDWOOD TRUST, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS June 30, 2025(Unaudited) Note 8. Residential Investor Loans - (continued)

unsecuritized residential investor bridge loan portfolio, which decreased to $949 million at June 30, 2025 from $1.12 billion