Company: RWT-PA
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000930236-25-000037
Chunk: 264

Company: REDWOOD TRUST INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 264
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)(67,012)— (4,070)(3,515)(74,597)Changes in fair value, net(28,042)— 906 — (27,136)Balance at End of Period$35,728 $1,984 $2,272 $7,747 $47,731 (1)Includes REO that were previously either legacy unsecuritized bridge loans or bridge loans within consolidated securitization entities.(2)For the three and nine months ended September 30, 2025, REO market valuation adjustments and liquidations resulted in net valuation losses of $6 million and $27 million, respectively, which were recorded in Investment fair value changes, net on our consolidated statements of income.

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REDWOOD TRUST, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS September 30, 2025(Unaudited) Note 15. Other Assets and Liabilities - (continued)

Accrued Expenses and Other LiabilitiesAccrued expenses and other liabilities at September 30, 2025 and December 31, 2024 are summarized in the following table.Table 15.3 – Components of Accrued Expenses and Other Liabilities(In Thousands)September 30, 2025December 31, 2024Payable to non-controlling interests$101,888 $123,258 Accrued interest payable91,971 70,988 Accrued compensation34,235 34,002 Margin payable31,844 20,340 Unsettled trades19,322 5,127 Accrued taxes payable13,518 — Accrued operating expenses12,668 11,074 Operating lease liabilities11,600 11,028 Current accounts payable10,842 6,803 Repurchase reserve4,442 4,727 Guarantee obligations1,660 2,806 Preferred stock dividends payable1,478 1,478 Bridge loan holdbacks (1)2,041 2,148 Other25,517 19,958 Total Accrued Expenses and Other Liabilities$363,026 $313,737 (1)Bridge loan holdbacks represent amounts withheld from the initial loan proceeds and are subsequently disbursed to the borrower to be used in the construction, rehabilitation or purchase of the mortgaged property or to fund interest on the bridge loan.Legal