Company: RWT-PA
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000930236-25-000007
Chunk: 316

Company: REDWOOD TRUST INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 316
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 in the bridge portfolio remains positive, as approximately 37% of the bridge book (gross) paid off during the year ended December 31, 2024 and we resolved $34 million in aggregate unpaid principal of loans that were 90 or more days delinquent at December 31, 2023, excluding transfers to REO.

Operating expenses at this segment increased by $4 million for the year ended December 31, 2024 , primarily due to increased portfolio management costs incurred for the management of specially serviced residential investor bridge loans and related workout arrangements in comparison to 2023.

We hold certain of our investments, primarily our MSRs, at our taxable REIT subsidiary. Our provision for income taxes at this segment is primarily driven by the amount of income earned from portfolio assets and reflects positive net income earned from investment portfolio activities at our taxable REIT subsidiary.

The following table presents details of our Redwood Investments portfolio at December 31, 2024 and 2023 organized by investments organically created through our mortgage banking segments and those acquired from third-parties. Amounts presented in the table represent our retained economic interests in consolidated Sequoia, CAFL SFR, Freddie Mac SLST, Freddie Mac K-Series, Servicing Investment and HEI securitizations as noted.

Table 10 – Redwood Investments - Detail of Economic Interest(In Thousands)December 31, 2024December 31, 2023Organic Residential Consumer InvestmentsResidential consumer securities at Redwood$139,683 $110,056 Residential consumer securities at consolidated Sequoia entities (1)367,431 204,830 Other investments (2)57,496 47,239 Organic Residential Investor InvestmentsResidential investor bridge loans1,864,797 2,068,323 Residential investor securities at consolidated CAFL Term entities (3)326,074 323,340 Third-Party InvestmentsResidential securities at Redwood 109,749 5,645 Residential securities at consolidated Freddie Mac SLST entities (4)241,765 274,175 Multifamily securities at Redwood11,749 7,101 Multifamily securities at consolidated Freddie Mac K-Series entities (5)35,163 33,308 Servicing investments (6)94,987 85,704 HEI (7)304,623 278,967 Other investments3,741 5,456 Total Segment Investments$3,