Company: RWT-PA
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000930236-25-000037
Chunk: 157

Company: REDWOOD TRUST INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 157
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Three Months EndedNine Months Ended(In Thousands)September 30, 2025June 30, 2025September 30, 2025September 30, 2024Mortgage Banking Activities, NetResidential consumer loans held-for-sale$12,882 $6,460 $19,802 $20,079 Residential consumer LPCs41,990 8,635 80,764 11,331 Residential investor term loans held-for-sale3,291 4,560 13,666 11,833 Residential investor term loan IRLCs— — 1,115 — Residential investor bridge loans1,030 3,573 5,635 2,748 Trading securities (1)(24,382)(38,645)(92,354)(17,508)Risk management derivatives, net(2,409)48,135 63,568 27,814 Total mortgage banking activities, net (2)32,402 32,718 92,196 56,297 Investment Fair Value Changes, NetResidential investor term loans held-for-sale(140)(9,489)(9,671)(2,837)Residential investor bridge loans held-for-investment(5,946)(57,998)(86,783)(27,503)Real estate securities(1,173)(1,117)(6,397)3,282 Servicer advance investments(920)(1,825)(4,098)8,252 Excess MSRs104 (1,144)(2,230)(3,876)Net investments in Sequoia entities (3)(951)(18,095)(31,615)4,929 Net investments in SLST (re-performing loans) entities (3)5,264 (175)34,210 18,411 Net investments in CAFL entities (3)2,619 (3,600)(542)19,830 Other investments (4)(3,916)(8,252)(25,447)(9,497)Risk management derivatives, net(1,932)16,984 35,683 (258)Total investment fair value changes, net(6,991)(84,711)(96,890)10,733 HEI income, NetUnsecuritized HEI198 (14,306)(6,972)23,618 Net investments in HEI