Company: RWT-PA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000930236-25-000029
Chunk: 238

Company: REDWOOD TRUST INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 238
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 net46,547 35,621 2,346 (89,074)(1,471)(6,031)General and administrative expenses(13,551)(20,815)(2,877)(73)(37,138)(74,454)Portfolio management costs— — (4,654)(11,865)— (16,519)Loan acquisition costs(2,338)(6,011)— — — (8,349)Other expenses— (4,405)(3,539)— — (7,944)(Provision for) benefit from income taxes(16,551)927 1,871 2,535 394 (10,824)Net Income (Loss) (2)$47,970 $9,155 $36,859 $(106,088)$(70,241)$(82,345)Total Assets$1,689,117 $301,743 $15,982,357 $2,953,731 $406,072 $21,333,020 (1)Represents market valuation changes of derivatives that were used to manage risks associated with our mortgage banking operations, Redwood Investments and Legacy 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.

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

Three Months Ended June 30, 2024(In Thousands)Sequoia Mortgage BankingCoreVest Mortgage BankingRedwood InvestmentsLegacy InvestmentsCorporate/OtherTotalInterest income$21,097 $7,008 $155,045 $41,697 $570 $225,417 Interest expense(9,922)(5,504)(130,575)(39,861)(14,262)(200,124)Net interest income (expense)11,175 1,504 24,470 1,836 (13,692)25,293 Non-interest income (loss)Mortgage banking activities, net, excluding risk management derivatives18,264 13,046 — — — 31,310 Risk management derivatives (losses), net (1)(12,019)(367)—