Company: RWT-PA
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000930236-25-000037
Chunk: 223

Company: REDWOOD TRUST INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 223
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, Redwood Investments and Legacy Investments. Mortgage banking activities, net, also includes other derivative financial instruments such as loan purchase commitments and interest rate locks. (2)Net Income (Loss) by segment is also referred to as Segment Contribution.

13

REDWOOD TRUST, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS September 30, 2025(Unaudited) Note 4. Segment Information - (continued)

Three Months Ended September 30, 2024(In Thousands)Sequoia Mortgage BankingCoreVest Mortgage BankingRedwood InvestmentsLegacy InvestmentsCorporate/OtherTotalInterest income$26,318 $4,868 $177,136 $39,921 $400 $248,643 Interest expense(16,770)(3,099)(150,238)(38,445)(14,593)(223,145)Net interest income (expense)9,548 1,769 26,898 1,476 (14,193)25,498 Non-interest income (loss)Mortgage banking activities, net, excluding risk management derivatives(7,336)12,303 — — — 4,967 Risk management derivatives gains, net (1)34,051 551 — — — 34,602 Total Mortgage banking activities, net26,715 12,854 — — — 39,569 Investment fair value changes, net, excluding risk management derivatives— — (9,127)6,312 (236)(3,051)Risk management derivatives (losses), net (1)— — — (9,151)— (9,151)Total Investment fair value changes, net— — (9,127)(2,839)(236)(12,202)HEI income, net— — 32 10,695 — 10,727 Servicing income, net— — 251 — — 251 Fee income, net— 5,434 64 (865)155 4,788 Other income (loss), net— — 932 — (52)880 Realized gains, net— — 211 — — 211 Total non-interest income (loss), net26,715 18,288 (7,637)6,991 (133)44,224