Company: RWT-PA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000930236-25-000029
Chunk: 162

Company: REDWOOD TRUST INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 162
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510 4.8 %Total interest income$556,430 $18,477,773 6.0 %$430,157 $14,355,633 6.0 %Interest ExpenseABS issued  Sequoia (2)(261,360)10,242,603 (5.1)%(133,195)5,529,610 (4.8)%  SLST (re-performing loans) (2)(25,071)1,398,380 (3.6)%(27,591)1,234,882 (4.5)%  CAFL Term (2)(58,064)2,076,372 (5.6)%(65,825)2,509,053 (5.2)%  CAFL Bridge (2)(25,219)792,732 (6.4)%(18,701)701,361 (5.3)%ABS issued$(369,714)$14,510,087 (5.1)%$(245,312)$9,974,906 (4.9)%Debt Facilities(104,043)2,854,041 (7.3)%(98,667)2,355,133 (8.4)%Corporate Debt(32,704)736,214 (8.9)%(28,299)689,624 (8.2)%Other ABS (2)(8,193)423,403 (3.9)%(8,376)389,245 (4.3)%Total interest expense$(514,654)$18,523,745 (5.6)%$(380,654)$13,408,908 (5.7)%Net Interest Income$41,776 $49,503 

(1)Average balances for residential consumer loans, residential investor loans, and trading securities are calculated based upon carrying values, which represent fair values. Average balances for AFS securities, debt facilities, corporate debt and certain ABS issued are calculated based upon amortized historical cost. Average balances for ABS carried at fair value are calculated based upon fair value.

(2)Interest income and interest expense securitized loans reflect activity from consolidated VIEs. While we consolidate these entities for GAAP reporting purposes, economically, we earn interest income from the securities we own in these entities, which is represented by the net interest income (interest income less