Company: RWT-PA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000930236-25-000029
Chunk: 274

Company: REDWOOD TRUST INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 274
---
 were in compliance with our derivative counterparty ISDA agreements. The following table presents the fair value and notional amount of our derivatives at June 30, 2025 and December 31, 2024.Table 13.1 – Fair Value and Notional Amount of DerivativesJune 30, 2025December 31, 2024FairValueNotionalAmountFairValueNotionalAmount(In Thousands)Assets - Risk Management DerivativesTBAs$61,249 $5,960,000 $— $— Interest rate futures19,876 2,006,800 16,446 712,500 Swaptions124,518 6,550,000 23,738 8,245,000 Assets - Other DerivativesLPCs and IRLCs14,154 2,008,104 5,819 919,888 Total Assets (1)$219,797 $16,524,904 $46,003 $9,877,388 Liabilities - Risk Management DerivativesInterest rate swaps$(10,519)$1,000,000 $— $— TBAs(27,082)2,760,000 (16,249)1,350,000 Interest rate futures(30,379)1,739,500 (6,915)830,500 Liabilities - Other DerivativesLPCs (2)(846)341,616 (496)157,985 Total Liabilities (1)$(68,826)$5,841,116 $(23,660)$2,338,485 Total Derivatives, Net (1)$150,971 $22,366,020 $22,343 $12,215,873 (1)For the purpose of this presentation, derivative assets and liabilities are presented on a gross and a net basis.

39

REDWOOD TRUST, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS June 30, 2025(Unaudited) Note 13. Derivative Financial Instruments - (continued)

The following table presents the market valuation gains and losses on our derivatives for the three and six months ended June 30, 2025 and 2024.Table 13.2 – Market Valuation Gains (Losses) on Derivatives, netThree Months Ended June 30, 2025Three Months