Company: RWT-PA
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000930236-25-000007
Chunk: 111

Company: REDWOOD TRUST INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 16
Chunk 111
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UST, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS December 31, 2024

Note 11. Other Investments

Other Investments at December 31, 2024 and 2023 are summarized in the following table.Table 11.1 – Components of Other Investments(In Thousands)December 31, 2024December 31, 2023Servicer advance investments, at fair value$233,820 $225,345 Strategic investments, at carrying value74,663 53,147 Strategic investments, at fair value3,460 2,960 Excess MSRs, at fair value32,274 37,367 MSRs, at fair value31,589 24,877 Other, at fair value— 234 Total Other Investments$375,806 $343,930 Income from Other Investments for years ended December 31, 2024, 2023 and 2022 is summarized in the following table.Table 11.2 – Components of Income From Other Investments, net (1)Years Ended December 31,(In Thousands)202420232022Service Advance Investments:Other interest income$18,519 $20,597 $19,663 Investment fair value changes, net8,833 11,863 (11,076)Strategic Investments:Other income, net (2)(1,292)(3,221)(901)Investment fair value changes, net (3)(1,586)(2,900)12,800 Excess MSRs:Other interest income12,949 14,152 15,912 Investment fair value changes, net(5,094)(1,668)(5,196)MSRs:Other income, net14,415 7,033 14,879 Total Other Investments Income, Net$46,744 $45,856 $46,081 (1)Market valuation gains (losses) on Other investments accounted for under the fair value option are recorded in Investment fair value changes, net. All other market valuation gains (losses) on Other investments are recorded in Other income, net.(2)Represents net equity method earnings (losses) from our Strategic investments that are accounted for under the equity method.(3)Includes Investment fair value changes related to our Strategic investments that are accounted for under the measurement alternative for equity securities without readily determinable fair values. For the