Company: RWT-PA
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000930236-25-000037
Chunk: 118

Company: REDWOOD TRUST INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 118
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 (included within the Freddie Mac SLST column), and our Servicing Investment VIEs are not accounted for under the CFE election and their associated ABS issued are accounted for at amortized historical cost. At September 30, 2025 and December 31, 2024, the fair value of our interests in the CAFL term loan securitizations accounted for under the CFE election were $333 million and $326 million, respectively. At September 30, 2025 and December 31, 2024, the fair value of our interest in the CAFL bridge loan securitizations accounted for under the CFE election was $40 million and $29 million, respectively, with the difference from the tables above generally representing ABS issued and carried at amortized historical cost and accrued interest on our economic interests. At September 30, 2025 and December 31, 2024, the fair value of our interests in the Freddie Mac SLST securitizations accounted for under the CFE election were $254 million and $242 million, respectively, with the difference from the tables above representing ABS issued and carried at amortized historical cost.(2)Additionally, the ABS from three and one Sequoia re-securitizations at September 30, 2025 and December 31, 2024, respectively, are not accounted for under the CFE election and are accounted for at fair value (included within the Sequoia column at September 30, 2025 and December 31, 2024). At September 30, 2025 and December 31, 2024, the fair value of our interests in consolidated Sequoia securitizations accounted for under the CFE election was $650 million and $418 million, respectively, with the difference in value of our investments in these VIEs reflected in the September 30, 2025 and December 31, 2024 table above representing $187 million and $79 million, respectively, of consolidated Sequoia securities in the Sequoia re-securitizations and $432 million and $184 million, respectively, of ABS issued at fair value.(3)During the three months ending September 30, 2025, the Freddie Mac K-Series securitization was called and the securities that we had retained from this VIE were paid off at par.(4)During the three months ending September 30, 2025, we exercised our