Company: RWT-PA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000930236-25-000029
Chunk: 269

Company: REDWOOD TRUST INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 269
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Six Months Ended June 30,20252024(In Thousands)Unsecuritized HEISecuritized HEIUnsecuritized HEISecuritized HEIFair value of HEI purchased and originated$6,060 $— $606 $— Net market valuation (losses) gains recorded (7,170)20,533 17,806 32,453 

35

REDWOOD TRUST, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS June 30, 2025(Unaudited) Note 10. Home Equity Investments (HEI) - (continued)

The following table provides the components of HEI income, net for the three and six months ended June 30, 2025 and 2024.Table 10.3 – Components of HEI Income, netThree Months Ended June 30,(In Thousands)20252024Net market valuation (losses) gains recorded on Unsecuritized HEI$(14,306)$11,663 Net market valuation gains recorded on Securitized HEI8,621 17,029 Net market valuation (losses) recorded on ABS Issued from HEI securitizations (1)(5,262)(5,472)Net market valuation (losses) recorded on non-controlling interests in HEI securitizations(2,133)(7,381)Other (2)181 $44 Total HEI (loss) income, net$(12,899)$15,883 Six Months Ended June 30,(In Thousands)20252024Net market valuation (losses) gains recorded on Unsecuritized HEI$(7,170)$17,806 Net market valuation gains recorded on Securitized HEI20,533 32,453 Net market valuation (losses) recorded on ABS Issued from HEI securitizations (1)(9,031)(12,881)Net market valuation (losses) recorded on non-controlling interests in HEI securitizations(7,342)(12,508)Other (2)277 99 Total HEI (loss) income, net $(2,733)$24,969 (1)Amount includes interest expense associated with ABS issued, which totaled $3 million and $6 million, for both the three and six months ended June 30, 2025 and 2024, respectively. (2)