Company: RWT-PA
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000930236-25-000037
Chunk: 69

Company: REDWOOD TRUST INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 69
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)Net Income (Loss) by segment is also referred to as Segment Contribution (Loss).

12

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

Nine Months Ended September 30, 2025(In Thousands)Sequoia Mortgage BankingCoreVest Mortgage BankingRedwood InvestmentsLegacy InvestmentsCorporate/OtherTotalInterest income$116,594 $12,182 $646,834 $79,077 $1,274 $855,961 Interest expense(61,498)(6,846)(585,540)(95,741)(49,566)(799,191)Net interest income (expense)55,096 5,336 61,294 (16,664)(48,292)56,770 Non-interest incomeMortgage banking activities, net, excluding risk management derivatives9,877 40,596 — — — 50,473 Risk management derivatives gains (losses), net (1)65,389 (1,820)— — — 63,569 Total Mortgage banking activities, net75,266 38,776 — — — 114,042 Investment fair value changes, net, excluding risk management derivatives— — (51,307)(82,567)1,300 (132,574)Risk management derivatives gains (losses), net (1)— — 44,190 (8,479)— 35,711 Total Investment fair value changes, net— — (7,117)(91,046)1,300 (96,863)HEI income (loss), net— — 926 (3,205)— (2,279)Servicing income, net— — 6,431 — — 6,431 Fee income (loss), net— 11,109 823 (2,793)— 9,139 Other income (loss), net— 1,468 1,156 (532)(373)1,719 Realized gains, net— — 1,207 — (48)1,159 Total non-interest income (loss), net75,266 51,353 3,426 (97,576)879 33,348