Company: RWT-PA
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000930236-25-000037
Chunk: 221

Company: REDWOOD TRUST INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 221
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— — (48)(48)Total non-interest income (loss), net28,719 15,732 1,081 (8,502)2,349 39,379 General and administrative expenses(7,774)(9,971)(1,599)(23)(19,340)(38,707)Portfolio management costs— — (3,524)(3,426)(31)(6,981)Loan acquisition costs(2,395)(1,804)— (156)— (4,355)Other expenses— (2,011)(3,170)(500)— (5,681)(Provision for) benefit from income taxes(5,464)48 (30)(571)(336)(6,353)Net Income (Loss) (2)$34,319 $3,492 $10,340 $(22,230)$(33,625)$(7,704)Total Assets$2,659,250 $393,790 $16,906,766 $2,305,179 $335,781 $22,600,766 (1)Represents market valuation changes of derivatives that were used to manage risks associated with our mortgage banking operations, Redwood Investments and Legacy Investments. Mortgage banking activities, net, also includes other derivative financial instruments such as loan purchase commitments and interest rate locks. (2)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