Company: RWT-PA
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000930236-25-000007
Chunk: 98

Company: REDWOOD TRUST INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 16
Chunk 98
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 bridge and term loans, net of $49 million of construction draws to our joint ventures. See Note 11 for additional information on these joint ventures.The following table provides the activity of residential investor loans during the years ended December 31, 2024 and 2023. Table 8.2 – Activity of Residential Investor Loans at RedwoodYear Ended December 31, 2024Year Ended December 31, 2023(In Thousands)Term at RedwoodBridge at RedwoodTerm at RedwoodBridge at RedwoodPrincipal balance of loans originated$720,537 $967,811 $525,130 $1,153,568 Principal balance of loans acquired19,246 15,677 — 19,500 Principal balance of loans sold to third parties (1)713,314 516,411 473,677 128,664 Transfers of loans between portfolios (2)— (290,159)(278,751)(641,194)Consolidation of securitized CAFL bridge loans (3)298,553 — — — Mortgage banking activities income (loss) recorded (4)11,692 3,767 16,500 5,704 Investment fair value changes recorded(8,777)(40,430)(14,430)(39,361)(1)For the year ended December 31, 2024 the principal balance of loans sold to third parties is net of $49 million related to construction draws on residential investor bridge loans sold to our joint ventures. See Note 11 for additional information on these joint ventures.(2)Transfers of residential investor term loans between portfolios at Redwood represents the transfer of loans from held-for-sale to held-for-investment associated with consolidated CAFL term securitizations. Transfers of residential investor bridge loans at Redwood, represents the transfer of residential investor bridge loans from "Bridge at Redwood" to "Bridge at CAFL" resulting from their inclusion in one of our bridge loan securitizations, which generally have replenishment features for a set period of time from the closing date.(3)In the fourth quarter of 2024, we completed our first CAFL securitization sponsored by our joint venture. This securitization involved loans contributed from our joint venture and by CoreVest. This securitization vehicle has been determined to be a VIE that we consolidate under GAAP as we are the primary beneficiary. See Note