Company: RWT-PA
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000930236-25-000037
Chunk: 220

Company: REDWOOD TRUST INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 220
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 For a full description of our segments, see Part I, Item 1—Business in our Annual Report on Form 10-K for the year ended December 31, 2024. 

11

REDWOOD TRUST, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS September 30, 2025(Unaudited) Note 4. Segment Information - (continued)

The following tables present financial information by segment for the three and nine months ended September 30, 2025 and 2024.Table 4.1 – Business Segment Financial Information Three Months Ended September 30, 2025(In Thousands)Sequoia Mortgage BankingCoreVest Mortgage BankingRedwood InvestmentsLegacy InvestmentsCorporate/OtherTotalInterest income$47,890 $4,052 $225,521 $21,476 $592 $299,531 Interest expense(26,657)(2,554)(207,939)(30,528)(16,859)(284,537)Net interest income (expense)21,233 1,498 17,582 (9,052)(16,267)14,994 Non-interest incomeMortgage banking activities, net, excluding risk management derivatives31,145 11,395 — — — 42,540 Risk management derivatives (losses) gains, net (1)(2,426)18 — — — (2,408)Total Mortgage banking activities, net28,719 11,413 — — — 40,132 Investment fair value changes, net, excluding risk management derivatives— — (1,682)(4,891)1,512 (5,061)Risk management derivatives (losses) gains, net (1)— — (60)(1,850)— (1,910)Total Investment fair value changes, net— — (1,742)(6,741)1,512 (6,971)HEI income (loss), net— — 745 (291)— 454 Servicing income, net— — 1,416 — — 1,416 Fee income (loss), net— 5,247 270 (938)— 4,579 Other income (loss), net— (928)392 (532)885 (183)Realized gains, net— —