Company: RWT-PA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000930236-25-000029
Chunk: 257

Company: REDWOOD TRUST INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 257
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securitized Term LoansUnsecuritized Bridge LoansPrincipal balance of loans originated$228,545 $141,756 $217,538 $234,115 Principal balance of loans acquired (1)36,237 25,233 648 — Principal balance of loans sold to third parties (2)250,795 226,081 252,424 156,294 Transfer of loans between portfolios (3)— 75,994 — (89,202)Six Months Ended June 30,20252024(In Thousands)Unsecuritized Term LoansUnsecuritized Bridge LoansUnsecuritized Term LoansUnsecuritized Bridge LoansPrincipal balance of loans originated$416,763 $407,900 $334,628 $428,144 Principal balance of loans acquired (1)43,037 25,233 648 15,677 Principal balance of loans sold to third parties (2)433,210 382,574 258,456 209,515 Transfer of loans between portfolios (3)— 25,375 — (187,933)(1)For the three and six months ended June 30, 2025 and 2024, balance reflects loans acquired from a loan origination partner and loan repurchases.(2)For the three and six months ended June 30, 2025 and 2024 the principal balance of loans sold to third parties is net of $16 million and $6 million, and $32 million and $21 million, respectively, related to construction draws on residential investor bridge loans sold to our joint ventures. See Note 12 for additional information on these joint ventures.(3)Transfers of unsecuritized residential investor term loans between portfolios represents the transfer of loans from held-for-sale to held-for-investment associated with consolidated term securitizations. Transfers of unsecuritized bridge loans, represents the transfer of residential investor bridge loans from "Unsecuritized Bridge" to "Securitized Bridge" resulting from their inclusion in one of our bridge loan securitizations, which generally have replenishment features for a set period of time from the closing.Securitized Residential Investor Loans Held-for-Investment We invest in securities issued by securitizations sponsored by CoreVest and consolidate the underlying residential investor term loans and bridge loans owned by these entities. For loans held at our consolidated securitization entities, market value changes are based