Company: RWT-PA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000930236-25-000029
Chunk: 118

Company: REDWOOD TRUST INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 118
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 Ended June 30, 2025(In Thousands) Bridge (1)SequoiaSecuritized Re-Performing LoansSecuritized TermTotalBalance at beginning of period $67,610 $— $2,356 $8,578 $78,544 Transfers to REO8,327 1,984 1,242 — 11,553 Liquidations (2)(7,565)— (923)(831)(9,319)Changes in fair value, net(8,534)— 96 — (8,438)Balance at End of Period$59,838 $1,984 $2,771 $7,747 $72,340 Six Months Ended June 30, 2025(In Thousands) Bridge (1)SequoiaSecuritized Re-Performing LoansSecuritized TermTotalBalance at beginning of period $77,678 $— $2,987 $11,262 $91,927 Transfers to REO12,071 1,984 2,088 — 16,143 Liquidations (2)(7,790)— (3,033)(3,515)(14,338)Changes in fair value, net(22,121)— 729 — (21,392)Balance at End of Period$59,838 $1,984 $2,771 $7,747 $72,340 (1)Includes REO that were previously either legacy unsecuritized bridge loans or bridge loans within consolidated securitization entities.(2)For the three and six months ended June 30, 2025, REO market valuation adjustments and liquidations resulted in net valuation losses of $8 million and $21 million, respectively, which were recorded in Investment fair value changes, net on our consolidated statements of income.

43

REDWOOD TRUST, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS June 30, 2025(Unaudited) Note 15. Other Assets and Liabilities - (continued)

Accrued Expenses and Other LiabilitiesAccrued expenses and other liabilities at June 30, 2025 and December 31, 2024 are summarized in the following table.Table 15.3 – Components of Accrued Expenses and Other Liabilities(In Thousands)June 30, 2025