Company: RWT-PA
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000930236-25-000037
Chunk: 225

Company: REDWOOD TRUST INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 225
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 Investment fair value changes, net, excluding risk management derivatives— — 33,478 (21,967)(1,037)10,474 Risk management derivatives (losses) gains, net (1)— — (1,967)2,226 — 259 Total Investment fair value changes, net— — 31,511 (19,741)(1,037)10,733 HEI income, net— — 32 35,664 — 35,696 Servicing income, net— — 8,025 — — 8,025 Fee income, net— 7,233 797 (733)155 7,452 Other income (loss), net— — 2,139 — (997)1,142 Realized gains, net— — 525 — 95 620 Total non-interest income (loss), net40,787 39,495 43,029 15,190 (1,784)136,717 General and administrative expenses(14,986)(30,407)(6,024)(53)(52,391)(103,861)Portfolio management costs— — (3,760)(11,017)(40)(14,817)Loan acquisition costs(2,843)(5,982)(14)(238)— (9,077)Other expenses— (7,210)(3,556)— — (10,766)(Provision for) Benefit from income taxes(10,031)706 (3,454)— 204 (12,575)Net Income (Loss) (2)$39,697 $769 $100,887 $13,495 $(94,226)$60,622 Total Assets$1,543,380 $357,432 $12,815,147 $3,337,646 $373,821 $18,427,426 (1)Represents market valuation changes of derivatives that were used to manage risks associated with our mortgage banking operations and Legacy Investments. Mortgage banking activities, net, also includes other derivative financial instruments such as loan purchase commitments and interest rate locks.(2)Net Income (Loss) by segment is also referred to as Segment Contribution.

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REDWOOD TRUST, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS September