Company: RWT-PA
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000930236-25-000037
Chunk: 149

Company: REDWOOD TRUST INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 149
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(192)6,431 8,025 (1,594)Fee income4,579 2,209 2,370 9,139 7,452 1,687 Other income, net(183)352 (535)1,719 1,142 577 Realized gains, net(48)640 (688)1,159 620 539 Total non-interest income (loss), net39,379 (51,937)91,316 33,348 136,717 (103,369)General and administrative expenses(38,707)(36,983)(1,724)(113,161)(103,861)(9,300)Portfolio management costs(6,981)(10,028)3,047 (23,500)(14,817)(8,683)Loan acquisition costs(4,355)(4,781)426 (12,704)(9,077)(3,627)Other expenses(5,681)(4,035)(1,646)(13,625)(10,766)(2,859)Total Operating expenses(55,724)(55,827)103 (162,990)(138,521)(24,469)Net (Loss) Income Before Income Taxes(1,351)(93,930)92,579 (72,872)73,197 (146,069)Provision for income taxes(6,353)(4,562)(1,791)(17,177)(12,575)(4,602)Net (Loss) Income(7,704)(98,492)90,788 (90,049)60,622 (150,671)Dividends on preferred stock(1,750)(1,757)7 (5,257)(5,257)— Net (Loss) Income (Related) Available to Common Stockholders$(9,454)$(100,249)$90,795 $(95,306)$55,365 $(150,671)

64

Three Months Ended September 30, 2025 Compared to Three Months Ended June 30, 2025

Net loss for the three months ended September 30, 2025 totaled $9 million, compared with $100 million for the three months ended June 30, 2025. The improvement reflects the sale or transfer of a portfolio of Legacy unsecuritized bridge loans and REO assets and third-party