Company: RWT-PA
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000930236-25-000037
Chunk: 172

Company: REDWOOD TRUST INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 172
---
ChangeRetained Operating InvestmentsResidential consumer Sequoia securities$129,613 $137,134 $(7,521)Residential consumer securities at consolidated Sequoia entities (1)556,688 513,180 43,508 Residential investor securities at consolidated Securitization Term entities (2)333,457 330,340 3,117 Securitized and unsecuritized residential investor bridge loans, restricted cash and REO1,037,615 1,053,228 (15,613)HEI (3)11,687 8,216 3,471 Other Investments (4)48,019 48,759 (740)Total Retained Operating Investments2,117,079 2,090,857 26,222 Third-Party Securities Portfolio Residential securities4,991 20,014 (15,023)Multifamily securities at consolidated Freddie Mac K-Series entities (5)— 35,977 (35,977)Servicing investments (6)95,153 94,232 921 Other Investments3,858 2,983 875 Total Third-Party Securities Portfolio104,002 153,206 (49,204)Total Redwood Investments Segment Economic Assets$2,221,081 $2,244,063 $(22,982)Impact of consolidation and other assets14,685,685 13,738,294 947,391 Total Redwood Investments Segment Assets - GAAP$16,906,766 2953731000$15,982,357 $924,409 

(1) Represents our retained economic investment in securities issued by consolidated Sequoia securitization VIEs. For GAAP purposes, we consolidated $13.08 billion of loans and $12.43 billion of ABS issued associated with these investments at September 30, 2025. We consolidated $11.59 billion of loans and $10.98 billion of ABS issued associated with these investments at June 30, 2025. At September 30, 2025 and June 30, 2025, excludes $93 million and $97 million, respectively, of retained Sequoia securities that were used as hedges for our Sequoia Mortgage Banking segment. 

(2)    Represents our retained economic investments in securities issued by consolidated CAFL Term securitization VIEs. For GAAP purposes