Company: RWT-PA
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000930236-25-000007
Chunk: 135

Company: REDWOOD TRUST INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 16
Chunk 135
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ATED FINANCIAL STATEMENTS December 31, 2024

Note 17. Debt Obligations, Net 

We enter into loan warehouse facilities, repurchase agreements ("repo"), recourse subordinate securities financings, and other forms of collateralized (and generally uncommitted) borrowings with several banks and major investment banking firms. We use debt to finance the acquisition and/or origination of residential consumer and residential investor mortgage loans (including those we acquire or originate in anticipation of sale or securitization), and to finance investments in securities and other investments. Additionally, we use corporate debt obligations to fund other aspects of our business and operations, including the repurchase of shares of our capital stock. At December 31, 2024, we had outstanding agreements on debt obligations with several counterparties and we were in compliance with all of the related covenants. The following tables summarize our debt obligations at December 31, 2024 and 2023.Table 17.1 – Debt Obligations, NetDecember 31, 2024(Dollars in Thousands)Number of Facilities or Issuances Principal AmountCarrying Value(4)Facility CapacityWeighted Average Interest Rate(1)Final Stated  MaturityCarrying Value of CollateralShort-Term Facilities:Residential consumer loan warehouse facilities7$956,010 $956,010 $2,175,000 6.24 %3/2025-10/2025$1,005,926 Residential investor loan warehouse facilities2223,975223,876800,000 7.31 %6/2025-7/2025300,843Real estate securities repurchase facilities6210,352210,352— 5.81 %1/2025-3/2025281,997Residential MSR warehouse facility158,16458,16475,000 7.65 %10/202591,506HEI warehouse facility197,49797,497150,000 9.00 %12/2025207,097Recourse Subordinate Securities Financing:CAFL securities (3)1268,240267,140N/A7.54 %9/2028318,106Long-Term Facilities:Residential investor loan warehouse facilities5615,036613,1291,530,000 7.83 %5/2026-4/2027889,901Servicer advance financing1159,798159,031