Company: RWT-PA
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000930236-25-000020
Chunk: 210

Company: REDWOOD TRUST INC
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 210
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 of the reporting period (4)$132,299 $(16,696)$1,340 $18,495 $(27,693)$3,422 $(1,053)$— $16,807 LiabilitiesABS IssuedNon-controlling interest(In Thousands)Beginning balance - December 31, 2024$12,879,530 $99,510 Acquisitions1,625,956 — Sales— — Principal paydowns(503,956)(1,187)Gains (losses) in net income (loss), net126,144 5,997 Other settlements, net— 1,840 Ending balance - March 31, 2025$14,127,674 $106,160 Change in unrealized gains or (losses) for the period included in earnings for liabilities held at the end of the reporting period (4)$97,883 $(4,640)(1)For the purpose of this presentation, derivative assets and liabilities, which consist of loan purchase commitments, are presented on a net basis.(2)In the fourth quarter of 2024, we completed our first CAFL securitization sponsored by our joint venture that we consolidate under GAAP as we are the primary beneficiary. During the three months ended March 31, 2025, we transferred $43 million of residential investor bridge loans to the joint venture under the replenishment feature of this securitization. For additional information on our principles of consolidation, see Note 16 of the Notes to Consolidated Financial Statements, included in Part I, Item 1 of the 2025 Quarterly Report on Form 10-Q.(3)Other settlements, net: for residential consumer and residential investor loans, primarily represents the transfer of loans to REO; for HEI, represents the share of HEI disposition fees paid to our third party originators for our purchased HEI portfolio; for derivatives, represents the transfer of the fair value of loan purchase and interest rate lock commitments at the time loans are acquired to the basis of residential consumer and investor loans; and for mortgage servicing rights ("MSRs) and other investments, primarily represents an investment that was exchanged into a new instrument that is no longer measured at fair value on a recurring basis.

16

REDWOOD TRUST, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS March 31, 2025(Unaudited) Note 6. Fair Value