Company: RWT-PA
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000930236-25-000037
Chunk: 72

Company: REDWOOD TRUST INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 72
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audited) Note 4. Segment Information - (continued)

Nine Months Ended September 30, 2024(In Thousands)Sequoia Mortgage BankingCoreVest Mortgage BankingRedwood InvestmentsLegacy InvestmentsCorporate/OtherTotalInterest income$61,728 $15,647 $471,952 $126,744 $2,729 $678,800 Interest expense(34,958)(11,480)(397,286)(117,131)(42,944)(603,799)Net interest income (expense)26,770 4,167 74,666 9,613 (40,215)75,001 Non-interest income (loss)Mortgage banking activities, net, excluding risk management derivatives15,666 29,569 — — — 45,235 Risk management derivatives gains, net (1)25,121 2,693 — — — 27,814 Total Mortgage banking activities, net40,787 32,262 — — — 73,049 Investment fair value changes, net, excluding risk management derivatives— — 33,478 (21,967)(1,037)10,474 Risk management derivatives (losses) gains, net (1)— — (1,967)2,226 — 259 Total Investment fair value changes, net— — 31,511 (19,741)(1,037)10,733 HEI income, net— — 32 35,664 — 35,696 Servicing income, net— — 8,025 — — 8,025 Fee income, net— 7,233 797 (733)155 7,452 Other income (loss), net— — 2,139 — (997)1,142 Realized gains, net— — 525 — 95 620 Total non-interest income (loss), net40,787 39,495 43,029 15,190 (1,784)136,717 General and administrative expenses(14,986)(30,407)(6,024)(53)(52,391)(103,861)Portfolio management costs— — (3,760)(11,017)(40)(14,817)Loan acquisition costs(2,843)(5,982)(14)(238