Company: RWT-PA
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000930236-25-000037
Chunk: 239

Company: REDWOOD TRUST INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 239
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,339 $— $625,932 $— $783,271 Held-for-investment at fair value— 2,143,226 — 931,100 3,074,326 Total Residential Investor Loans$157,339 $2,143,226 $625,932 $931,100 $3,857,597 December 31, 2024Residential Investor TermResidential Investor Bridge(In Thousands)UnsecuritizedSecuritizedUnsecuritizedSecuritizedTotalHeld-for-sale at fair value$158,637 $— $78,587 $— $237,224 Held-for-investment at fair value— 2,485,069 1,041,694 823,103 4,349,866 Total Residential Investor Loans$158,637 $2,485,069 $1,120,281 $823,103 $4,587,090 (1)At September 30, 2025, Residential investor bridge loans held-for-sale include $101 million of loans recorded at the lower of cost or market value for which the carrying value approximates the fair value. Nearly all of the outstanding residential investor term loans at September 30, 2025 were first-lien, fixed-rate loans with original maturities of 5 to 30 years. The outstanding residential investor bridge loans held-for-investment at September 30, 2025 were first-lien, interest-only loans with original maturities of 8 to 36 months and were comprised of 37% one-month SOFR-indexed adjustable-rate loans, and 63% fixed-rate loans.At September 30, 2025, $626 million of our residential investor unsecuritized bridge loans were classified as HFS in connection with our planned disposition strategy for non-core assets or are loans that we intend to sell through securitizations or whole loan sales. During the third quarter of 2025, as part of our plans to accelerate the wind-down of the Legacy Investments portfolio, we transferred a portfolio totaling $484 million in fair value of legacy unsecuritized bridge loans and REO assets to the Legacy Trust. These transfers met the criteria to be accounted for as sales for financial reporting purposes, in accordance with GAAP. We determined that the Legacy Trust is a variable-interest entity ("VIE") but that Redwood is not the primary beneficiary, as