Company: RWT-PA
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000930236-25-000020
Chunk: 228

Company: REDWOOD TRUST INC
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 228
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ia securities— — 91,221 91,221 Total Fair Value$39,365 $31,867 $140,242 $211,474 Gains and losses from the sale of AFS securities are recorded as Realized gains, net, in our consolidated statements of income. During the three months ended March 31, 2025, we recorded a gain of $1 million on our sales of AFS securities. For the three months ended March 31, 2024 we did not sell any AFS securities. During the three months ended March 31, 2025, we had $3 million of net unrealized gains on AFS securities.At March 31, 2025, we had $49 million of AFS securities with contractual maturities less than five years, $5 million with contractual maturities greater than five years but less than ten years, and the remainder of our AFS securities had contractual maturities greater than ten years.AFS Securities with Unrealized LossesThe following table presents the total carrying value (fair value) and unrealized losses of residential AFS securities that were in a gross unrealized loss position at March 31, 2025 and December 31, 2024.Table 9.3 – AFS Securities in Gross Unrealized Loss Position by Holding Periods Less Than 12 Consecutive Months12 Consecutive Months or LongerFairValueUnrealizedLossesFairValueUnrealized Losses(In Thousands)March 31, 2025$28,098 $(205)$20,450 $(4,682)December 31, 202430,351 (391)19,817 (5,283)At March 31, 2025, after giving effect to purchases, sales, and extinguishment due to credit losses, our consolidated balance sheets included 88 AFS securities, of which 19 were in an unrealized loss position and 11 were in a continuous unrealized loss position for 12 consecutive months or longer. At December 31, 2024, our consolidated balance sheets included 90 AFS securities, of which 20 were in an unrealized loss position and 11 were in a continuous unrealized loss position for 12 consecutive months or longer.Allowance for Credit LossesCredit impairments on our AFS securities are recorded in earnings using an allowance for credit losses, with the allowance limited to the amount by which the security's fair value is less than its