Company: RWT-PA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000930236-25-000029
Chunk: 76

Company: REDWOOD TRUST INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 76
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,205)(10,218)(1,528)(57)(17,975)(36,983)Portfolio management costs— — (2,594)(7,434)— (10,028)Loan acquisition costs(1,267)(3,514)— — — (4,781)Other expenses— (2,203)(1,832)— — (4,035)(Provision for) benefit from income taxes(9,289)278 1,567 2,535 347 (4,562)Net Income (Loss) (2)$22,154 $6,135 $11,892 $(103,989)$(34,684)$(98,492)Total Assets$1,689,117 $301,743 $15,982,357 $2,953,731 $406,072 $21,333,020 (1)Represents market valuation changes of derivatives that were used to manage risks associated with our mortgage banking operations, Redwood Investments and Legacy 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 June 30, 2025(Unaudited) Note 4. Segment Information - (continued)

Six Months Ended June 30, 2025(In Thousands)Sequoia Mortgage BankingCoreVest Mortgage BankingRedwood InvestmentsLegacy InvestmentsCorporate/OtherTotalInterest income$68,704 $8,131 $421,313 $57,601 $681 $556,430 Interest expense(34,841)(4,293)(377,601)(65,212)(32,707)(514,654)Net interest income (expense)33,863 3,838 43,712 (7,611)(32,026)41,776 Non-interest incomeMortgage banking activities, net, excluding risk management derivatives(21,268)29,201 — — — 7,933 Risk management derivatives gains, net (1)67,815 (1,838)— — — 65,977 Total Mortgage banking activities, net46,547 27,363 — — — 73,910