Company: RWT-PA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000930236-25-000029
Chunk: 80

Company: REDWOOD TRUST INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 80
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— 6,925 Total Investment fair value changes, net— — 40,637 (16,902)(800)22,935 HEI income, net— — — 24,969 — 24,969 Servicing income, net— — 7,774 — — 7,774 Fee income, net— 1,800 733 131 — 2,664 Other income (loss), net— — 1,208 — (946)262 Realized gains, net— — 314 — 95 409 Total non-interest income (loss), net14,072 21,208 50,666 8,198 (1,651)92,493 General and administrative expenses(9,746)(21,102)(4,164)(52)(32,789)(67,853)Portfolio management costs— — (2,210)(6,225)(26)(8,461)Loan acquisition costs(1,551)(4,097)(14)(239)— (5,901)Other expenses— (5,008)(3,530)— — (8,538)(Provision for) Benefit from income taxes(3,054)1,687 (4,060)— (20)(5,447)Net Income (Loss) (2)$16,942 $(4,914)$84,457 $9,819 $(60,508)$45,796 Total Assets$1,106,416 $371,980 $11,420,075 $3,230,928 $361,705 $16,491,104 (1)Represents market valuation changes of derivatives that were used to manage risks associated with our mortgage banking operations and Legacy Investments. For mortgage banking, also includes other derivative financial instruments such as loan purchase commitments and interest rate locks. (2)Net Income (Loss) by segment is also referred to as Segment Contribution.

15

REDWOOD TRUST, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS June 30, 2025(Unaudited) 

Note 5. Mortgage Banking Activities, Net

The following table presents the components of Mortgage banking activities, net, recorded in our consolidated statements of income for the three and six months ended June 30, 2025 and 2024.Table