Company: RWT-PA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000930236-25-000029
Chunk: 153

Company: REDWOOD TRUST INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 153
---
 for the second quarter of 2025, compared to the first quarter of 2025.

Consolidated Results of Operations

The following table presents the components of our net income (loss) for the three and six months ended June 30, 2025 to the immediate preceding quarter ended March 31, 2025 and year-to-date period ended June 30, 2024. 

Table 1 – Net (Loss) Income Three Months EndedSix Months Ended(In Thousands, except per Share Data)June 30, 2025March 31, 2025ChangeJune 30, 2025June 30, 2024ChangeNet Interest Income From:Sequoia mortgage banking$15,519 $18,344 $(2,825)$33,863 $17,221 $16,642 CoreVest mortgage banking1,834 2,005 (171)3,838 2,398 $1,440 Redwood Investments22,097 21,615 482 43,712 47,769 (4,057)Legacy Investments(9,449)1,838 (11,287)(7,611)8,137 (15,748)Corporate/other(16,167)(15,860)(307)(32,026)(26,022)$(6,004)Net Interest Income$13,834 $27,942 $(14,108)$41,776 $49,503 $(7,727)Non-Interest IncomeSequoia mortgage banking activities, net24,396 22,151 2,245 46,547 14,072 32,475 CoreVest mortgage banking activities, net16,461 10,902 5,559 27,363 19,408 7,955 Investment fair value changes, net(84,704)(5,188)(79,516)(89,892)22,935 (112,827)HEI (loss) income, net(12,899)10,166 (23,065)(2,733)24,969 (27,702)Servicing income1,608 3,407 (1,799)5,015 7,774 (2,759)Fee income2,209 2,351 (142)4,560 2,664 1,896 Other income, net352