Company: RWT-PA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000930236-25-000029
Chunk: 78

Company: REDWOOD TRUST INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 78
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SIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS June 30, 2025(Unaudited) Note 4. Segment Information - (continued)

Three Months Ended June 30, 2024(In Thousands)Sequoia Mortgage BankingCoreVest Mortgage BankingRedwood InvestmentsLegacy InvestmentsCorporate/OtherTotalInterest income$21,097 $7,008 $155,045 $41,697 $570 $225,417 Interest expense(9,922)(5,504)(130,575)(39,861)(14,262)(200,124)Net interest income (expense)11,175 1,504 24,470 1,836 (13,692)25,293 Non-interest income (loss)Mortgage banking activities, net, excluding risk management derivatives18,264 13,046 — — — 31,310 Risk management derivatives (losses), net (1)(12,019)(367)— — — (12,386)Total Mortgage banking activities, net6,245 12,679 — — — 18,924 Investment fair value changes, net, excluding risk management derivatives— — 17,083 (17,079)(1,450)(1,446)Risk management derivatives gains, net (1)— — — 2,544 — 2,544 Total Investment fair value changes, net— — 17,083 (14,535)(1,450)1,098 HEI income, net— — — 15,883 — 15,883 Servicing income, net— — 3,549 — — 3,549 Fee income, net— 1,174 428 61 — 1,663 Other income (loss), net— — 1,038 — (1)1,037 Realized gains, net— — — — — — Total non-interest income (loss), net6,245 13,853 22,098 1,409 (1,451)42,154 General and administrative expenses(4,957)(9,677)(1,349)(88)(17,213)(33,284)Portfolio management costs— — (1,201)(3,642)(21)(4,864)Loan