Company: RWT-PA
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000930236-25-000007
Chunk: 320

Company: REDWOOD TRUST INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 320
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 $184 million of non-recourse re-securitization debt (ABS issued); real estate securities with a fair value of $282 million (including securities owned in consolidated securitization entities) that were financed with $210 million of recourse debt incurred through repurchase facilities; and $60 million of securities that were financed using a recourse residential MSR warehouse facility. The remaining $298 million of our securities, including certain securities we own that were issued by consolidated securitization entities, were financed with capital.

The following table summarizes the credit characteristics of our entire real estate securities portfolio by collateral type at December 31, 2024. This table includes both our securities held on balance sheet and our economic interest in securities we own in securitizations we consolidate in accordance with GAAP.

Table 12 – Credit Statistics of Real Estate Securities Owned at Redwood and in Consolidated EntitiesDecember 31, 2024Weighted Average Values (1)Market Value - IO SecuritiesMarket Value - Non-IO SecuritiesPrincipal Balance - Non-IOSecuritiesGross Weighted Average Coupon90 Day+ Delinquency3-Month Prepayment RateInvestment Thickness (2)(Dollars in Thousands)Sequoia securities on balance sheet$48,462 $91,221 $139,396 4.7 %0.2 %12 %3 %Consolidated Sequoia securities163,431 255,477 314,332 5.3 %0.1 %19 %3 %Total Sequoia Securities211,893 346,698 453,728 5.1 %0.2 %17 %3 %Consolidated Freddie Mac SLST securities17,334 224,431 421,007 4.5 %7.3 %5 %28 %Consolidated Freddie Mac K-Series securities— 35,163 36,468 4.3 %— %— %8 %Multifamily securities on balance sheet— 11,749 11,100 5.7 %— %— %— %Total Multifamily Securities— 46,912 47,568 5.6 %— %— %0.3 %Consolidated CAFL securities13,855 312,219 411,800 5.4 %7.4 %9 %16