Company: RWT-PA
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000930236-25-000007
Chunk: 77

Company: REDWOOD TRUST INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 16
Chunk 77
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, net— — 41,831 — 41,831 Other income, net— 10,930 17,674 (1,076)27,528 Realized gains, net— — 565 (259)306 Total non-interest income (loss), net57,579 52,749 46,990 (3,014)154,304 General and administrative expenses (20,008)(40,008)(3,982)(72,395)(136,393)Portfolio management costs— — (20,750)(165)(20,915)Loan acquisition costs(3,860)(8,563)(244)(8)(12,675)Other expenses— (9,413)(4,675)— (14,088)(Provision for) benefit from income taxes(16,009)2,219 (5,586)539 (18,837)Net Income (Loss) (2)$61,497 $2,294 $133,187 $(142,974)$54,004 Total Assets$1,231,723 $334,529 $16,358,430 $333,662 $18,258,344 (1)Represents market valuation changes of derivatives that were used to manage risks associated with our mortgage banking operations and Redwood Investments. For mortgage banking, 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.

F- 24

REDWOOD TRUST, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS December 31, 2024Note 4. Segment Information (continued)

Year Ended December 31, 2023(In Thousands)Sequoia Mortgage BankingCoreVest Mortgage BankingRedwood InvestmentsCorporate/OtherTotalInterest income$25,404 $15,896 $675,478 $7,684 $724,462 Interest expense(24,114)(13,078)(536,527)(57,800)(631,519)Net interest income (expense)1,290 2,818 138,951 (50,116)92,943 Non-interest income (loss)Mortgage banking activities, net, excluding risk management derivatives45,690 40,518 — — 86,208 Risk management derivatives (