Company: RWT-PA
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000930236-25-000007
Chunk: 131

Company: REDWOOD TRUST INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 16
Chunk 131
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 BalanceCarrying ValueWeighted Average Interest RateStated MaturitiesNumber of Series(Dollars in Thousands)Sequoia$5,151,646 $4,568,660 2.67% to 6.66% 2024-205342CAFL2,987,825 2,879,913 2.69% to 7.89%2027-203319Freddie Mac SLST1,147,111 1,088,225 3.50%2028-20292Freddie Mac K-Series402,400 391,977 3.55%20251HEI233,131 222,488 3.86% to 6.70%2052-20532ABS Issued at Fair Value$9,922,113 $9,151,263 CAFL485,000 483,065 2.34% to 4.36%20292Freddie Mac SLST181,546 177,552 7.50%20591ABS Issued at Amortized Cost$666,546 $660,617 Total ABS Issued$10,588,659 $9,811,880 During the fourth quarter of 2024, we consolidated the assets and liabilities of an entity formed in connection with the financing of residential investor bridge loans (presented within CAFL in table 15.1 above) and sponsored by our joint venture. We determined the entity was a VIE for which we determined we are the primary beneficiary. At issuance, we recognized $300 million of loans and other assets and $297 million of ABS issued and other liabilities and acquired a $3 million beneficial ownership interest in the trust. We elected to account for the entity under the CFE election and account for the ABS issued at fair value, with the entire change in fair value of the ABS issued recorded through Investment fair value changes, net on our consolidated statements of income. At December 31, 2024, the principal balance of the ABS issued was $285 million, and the net carrying value was $286 million. The weighted average stated coupon of the ABS issued was 7.13% at issuance. The ABS issued by the CAFL bridge entity are subject to an optional redemption in May 2027 and beginning in June 2027, the interest rate on the ABS issued increases by 1.5% through final maturity in November 2031. The ABS issued