Company: RWT-PA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000930236-25-000029
Chunk: 240

Company: REDWOOD TRUST INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 240
---
UST, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS June 30, 2025(Unaudited) Note 4. Segment Information - (continued)

Six Months Ended June 30, 2024(In Thousands)Sequoia Mortgage BankingCoreVest Mortgage BankingRedwood InvestmentsLegacy InvestmentsCorporate/OtherTotalInterest income$35,409 $10,779 $294,818 $86,822 $2,329 $430,157 Interest expense(18,188)(8,381)(247,049)(78,685)(28,351)(380,654)Net interest income (expense)17,221 2,398 47,769 8,137 (26,022)49,503 Non-interest income (loss)Mortgage banking activities, net, excluding risk management derivatives23,002 17,266 — — — 40,268 Risk management derivatives (losses) gains, net (1)(8,930)2,142 — — — (6,788)Total Mortgage banking activities, net14,072 19,408 — — — 33,480 Investment fair value changes, net, excluding risk management derivatives— — 40,637 (23,827)(800)16,010 Risk management derivatives gains, net (1)— — — 6,925 — 6,925 Total Investment fair value changes, net— — 40,637 (16,902)(800)22,935 HEI income, net— — — 24,969 — 24,969 Servicing income, net— — 7,774 — — 7,774 Fee income, net— 1,800 733 131 — 2,664 Other income (loss), net— — 1,208 — (946)262 Realized gains, net— — 314 — 95 409 Total non-interest income (loss), net14,072 21,208 50,666 8,198 (1,651)92,493 General and administrative expenses(9,746)(21,102)(4,164)(52)(32,789)(67,853)Portfolio management costs— — (2,210)(6,225)(