Company: RWT-PA
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000930236-25-000020
Chunk: 205

Company: REDWOOD TRUST INC
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 205
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, net (1)3,089 2,509 — — 5,598 Total Mortgage banking activities, net7,827 6,729 — — 14,556 Investment fair value changes, net, excluding risk management derivatives— — 16,806 650 17,456 Risk management derivatives gains, net (1)— — 4,381 — 4,381 Total Investment fair value changes, net— — 21,187 650 21,837 HEI income, net— — 9,086 — 9,086 Servicing income, net— — 4,225 — 4,225 Fee income, net— 626 375 — 1,001 Other income (loss), net— — 170 (945)(775)Realized gains, net— — 314 95 409 Total non-interest income (loss), net7,827 7,355 35,357 (200)50,339 General and administrative expenses(4,789)(11,425)(2,175)(16,180)(34,569)Portfolio management costs— — (3,588)(9)(3,597)Loan acquisition costs(572)(1,663)— (2)(2,237)Other expenses— (2,806)(555)— (3,361)(Provision for) Benefit from income taxes(1,494)2,136 (1,146)(19)(523)Net Income (Loss) (2)$7,019 $(5,509)$57,492 $(28,740)$30,262 Total Assets$594,842 $383,090 $13,692,180 $387,862 $15,057,974 (1)Represents market valuation changes of derivatives that were used to manage risks associated with our mortgage banking operations and Redwood Investments. For mortgage banking, 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.

12

REDWOOD TRUST, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS March 31, 2025(Unaudited) 

Note 5. Mortgage Banking Activities, Net

The following table presents the components of Mortgage banking activities