Company: RWT-PA
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000930236-25-000037
Chunk: 81

Company: REDWOOD TRUST INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 81
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 and Freddie Mac SLST was $650 million, $333 million, and $254 million, respectively. At September 30, 2025, the fair value of our securities in the three CAFL Bridge loan securitizations accounted for under the CFE election and our HEI securitization entities was $40 million and $25 million, respectively.(5)For the purpose of this presentation, derivative assets and liabilities, which consist of loan purchase commitments, are presented on a net basis.(6)Of the total $102 million payable to non-controlling interests, $78 million is measured at fair value on a recurring basis.The following table summarizes the estimated fair values of assets and liabilities that are not measured at fair value at September 30, 2025 and December 31, 2024.Table 6.4 – Carrying Values and Estimated Fair Values of Assets and LiabilitiesSeptember 30, 2025December 31, 2024Level in Fair Value HierarchyCarryingValueEstimated FairValueCarryingValueEstimated FairValue(In Thousands)AssetsResidential investor loans held-for-sale (1)3$101,836 $101,836 $— $— Cash and cash equivalents1226,321 226,321 245,165 245,165 Restricted cash1103,868 103,868 67,762 67,762 LiabilitiesDebt obligation facilities and other financing2$3,576,657 $3,577,448 $2,818,292 $2,819,393 ABS issued, net3214,938 216,104 390,674 392,344 Convertible notes, net1415,999 422,266 365,739 365,455 Trust preferred securities and subordinated notes, net3138,894 83,700 138,860 93,465 Senior Notes1225,111 227,477 139,989 146,716 Guarantee obligations (2)31,660 2,691 2,806 3,204 (1)Residential investor loans reported at lower of cost or market for which the carrying value approximates fair value at September 30, 2025.(2)These liabilities are included in Accrued expenses and other liabilities on our consolidated balance.  During the three and nine months ended September 30, 2025, we elected the fair value option for $25 million and $