Company: RWT-PA
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000930236-25-000020
Chunk: 238

Company: REDWOOD TRUST INC
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 238
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 March 31, 2025.Table 15.2 – REO ActivityThree Months Ended March 31, 2025(In Thousands) Bridge (1)Securitized Re-Performing LoansSecuritized TermTotalBalance at beginning of period $77,678 $2,987 $11,262 $91,927 Transfers to REO2,212 846 — 3,058 Liquidations (2)(225)(2,111)(2,684)(5,020)Changes in fair value, net(13,587)634 — (12,953)Other (3)1,532 — — 1,532 Balance at End of Period$67,610 $2,356 $8,578 $78,544 (1)Includes REO that were previously either unsecuritized Bridge loans or Bridge loans within consolidated securitization entities.(2)For the three months ended March 31, 2025, REO market valuation adjustments and liquidations resulted in net valuation losses of $13 million, which were recorded in Investment fair value changes, net on our consolidated statements of income.(3)Represents construction draws that were capitalized to the REO balance. 

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REDWOOD TRUST, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS March 31, 2025(Unaudited) Note 15. Other Assets and Liabilities - (continued)

Accrued Expenses and Other LiabilitiesAccrued expenses and other liabilities at March 31, 2025 and December 31, 2024 are summarized in the following table.Table 15.3 – Components of Accrued Expenses and Other Liabilities(In Thousands)March 31, 2025December 31, 2024Payable to non-controlling interests$130,255 $123,258 Margin payable120,187 20,340 Accrued interest payable81,796 70,988 Accrued compensation19,552 34,002 Operating lease liabilities13,069 11,028 Accrued operating expenses13,398 11,074 Accrued taxes payable5,544 — Current accounts payable10,098 6,803 Unsettled trades34,921 5,127 Guarantee obligations2,447 2,806 Repurchase reserve4,430 4