Company: RWT-PA
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000930236-25-000037
Chunk: 235

Company: REDWOOD TRUST INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 235
---
 other indications of value, net of expected sales costs.Refer to Note 15 for further information on our REO.

Note 7. Residential Consumer Loans

We acquire residential consumer loans from third-party originators and may sell or securitize these loans and hold a retained portion for investment.The following table summarizes the classifications and fair values of the securitized and unsecuritized residential consumer loans owned at September 30, 2025 and December 31, 2024.Table 7.1 – Classifications and Fair Values of Residential Consumer LoansSeptember 30, 2025Unsecuritized Jumbo LoansSecuritized Jumbo LoansSecuritized Re-Performing Loans(In Thousands)TotalHeld-for-sale at fair value$2,455,559 $— $1,248,236 $3,703,795 Held-for-investment at fair value— 13,079,486 — 13,079,486 Total Residential Consumer Loans$2,455,559 $13,079,486 $1,248,236 $16,783,281 December 31, 2024Unsecuritized Jumbo LoansSecuritized Jumbo LoansSecuritized Re-Performing Loans(In Thousands)TotalHeld-for-sale at fair value$1,013,547 $— $— $1,013,547 Held-for-investment at fair value— 8,819,554 1,244,722 10,064,276 Total Residential Consumer Loans$1,013,547 $8,819,554 $1,244,722 $11,077,823 At September 30, 2025, we owned mortgage servicing rights associated with $2.4 billion (principal balance) of residential consumer loans that were purchased from third-party originators. The value of these MSRs is included in the carrying value of the associated loans on our consolidated balance sheets. We contract with licensed sub-servicers that perform servicing functions for these loans. Refer to Note 16 for further information on our consolidated VIEs.At September 30, 2025, we had $4.0 billion in commitments to fund residential consumer loans. See Note 13 for additional information on these commitments.

22

REDWOOD TRUST, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS September 30, 2025(Unaudited) Note