Company: RWT-PA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000930236-25-000029
Chunk: 75

Company: REDWOOD TRUST INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 75
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 fair value at the time of transfer. For a full description of our segments, see Part I, Item 1—Business in our Annual Report on Form 10-K for the year ended December 31, 2024. The following tables present financial information by segment for the three and six months ended June 30, 2025 and 2024.Table 4.1 – Business Segment Financial Information Three Months Ended June 30, 2025(In Thousands)Sequoia Mortgage BankingCoreVest Mortgage BankingRedwood InvestmentsLegacy InvestmentsCorporate/OtherTotalInterest income$37,021 $3,737 $219,744 $23,449 $385 $284,336 Interest expense(21,502)(1,903)(197,647)(32,898)(16,552)(270,502)Net interest income (expense)15,519 1,834 22,097 (9,449)(16,167)13,834 Non-interest incomeMortgage banking activities, net, excluding risk management derivatives(22,632)15,354 — — — (7,278)Risk management derivatives gains, net (1)47,028 1,107 — — — 48,135 Total Mortgage banking activities, net24,396 16,461 — — — 40,857 Investment fair value changes, net, excluding risk management derivatives— — (26,958)(74,606)(132)(101,696)Risk management derivatives gains (losses), net (1)— — 17,960 (968)— 16,992 Total Investment fair value changes, net— — (8,998)(75,574)(132)(84,704)HEI income (loss), net— — 126 (13,025)— (12,899)Servicing income, net— — 1,608 — — 1,608 Fee income (loss), net— 2,782 412 (985)— 2,209 Other income (loss), net— 715 394 — (757)352 Realized gains, net— — 640 — — 640 Total non-interest income (loss), net24,396 19,958 (5,818)(89,584)(889)(51,937)General and administrative expenses(7