Company: RWT-PA
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000930236-25-000037
Chunk: 254

Company: REDWOOD TRUST INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 254
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,20252024(In Thousands)Unsecuritized HEISecuritized HEIUnsecuritized HEISecuritized HEIFair value of HEI purchased and originated$2,926 $— $460 $— Fair value of HEI transferred148,963 (148,963)— — Fair value of HEI sold to third party262,447 — — — Net market valuation gains recorded 198 2,960 5,812 19,408 Nine Months Ended September 30,20252024(In Thousands)Unsecuritized HEISecuritized HEIUnsecuritized HEISecuritized HEIFair value of HEI purchased and originated$8,986 $— $1,066 $— Fair value of HEI transferred148,963 (148,963)— — Fair value of HEI sold to third party262,447 — — — Net market valuation (losses) gains recorded (6,972)23,493 23,618 51,861 

35

REDWOOD TRUST, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS September 30, 2025(Unaudited) Note 10. Home Equity Investments (HEI) - (continued)

The following table provides the components of HEI income, net for the three and nine months ended September 30, 2025 and 2024.Table 10.3 – Components of HEI Income, netThree Months Ended September 30,(In Thousands)20252024Net market valuation gains recorded on Unsecuritized HEI$198 $5,812 Net market valuation gains recorded on Securitized HEI2,960 19,407 Net market valuation (losses) recorded on ABS Issued from HEI securitizations (1)(2,596)(5,964)Net market valuation (losses) recorded on non-controlling interests in HEI securitizations(231)(8,604)Other123 $76 Total HEI (loss) income, net$454 $10,727 Nine Months Ended September 30,(In Thousands)20252024Net market valuation (losses) gains recorded on Unsecuritized HEI$(6,972)$23,618 Net market valuation gains recorded on Securitized HEI23,493 51,