Company: RWT-PA
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000930236-25-000007
Chunk: 304

Company: REDWOOD TRUST INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 304
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Consolidated Market Valuation Gains and Losses, Net

The following table presents the net market valuation gains and losses recorded in each line item of our consolidated statements of income (loss) for the years ended December 31, 2024 and 2023.

Table 3 – Consolidated Market Valuation Gains and Losses, NetYears Ended December 31,(In Thousands)20242023Mortgage Banking Activities, NetResidential consumer loans held-for-sale$29,448 $20,376 Residential consumer loan purchase commitments9,571 22,600 Residential investor term loans held-for-sale11,692 16,500 Residential investor bridge loans3,767 5,704 Trading securities (1)41,173 (159)Risk management derivatives, net(19,505)(18,824)Total mortgage banking activities, net (2)$76,146 $46,197 Investment Fair Value Changes, NetResidential consumer loans held-for-investment, at Redwood (called Sequoia loans)$— $183 Residential investor term loans held-for-sale(8,777)(14,430)Residential investor bridge loans held-for-investment(40,430)(39,361)Trading securities6,432 11,251 Servicer advance investments8,832 11,863 Excess MSRs(5,093)(1,668)Net investments in Sequoia entities (3)27,885 2,407 Net investments in Freddie Mac SLST entities (3)(240)(13,446)Net investment in Freddie Mac K-Series entity (3)1,855 1,541 Net investments in CAFL entities (3)21,454 5,504 Other investments (4)(18,049)(6,077)Risk management derivatives, net(10,189)(1,479)Credit recoveries on AFS securities1,561 58 Other— (746)Total investment fair value changes, net$(14,759)$(44,400)HEI income, NetHEI at Redwood28,739 30,749 Net investments in HEI securitization entities (3)13,092 4,368 Total HEI income, net$41,831 $35,117 Other IncomeMSRs$5,452 $(544)Other(248)(556)Total Other Income (5)$5,204