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REDWOOD TRUST INC

For the period ended Dec 31, 2025. Filed Feb 27, 2026.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 27, 2026

RWT$2.97-4.2%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 8. Consolidated Financial Statements

REPORTS OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

For Inclusion in Annual Report on Form 10-K Filed With

Securities and Exchange Commission

F- 1

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS AND SCHEDULES

Page
Reports of Independent Registered Public Accounting Firm (PCAOB ID Number 248)F-3
Consolidated Balance Sheets at December 31, 2025 and 2024F-6
Consolidated Statements of (Loss) Income for the Years Ended December 31, 2025, 2024, and 2023F-7
Consolidated Statements of Comprehensive (Loss) Income for the Years Ended December 31, 2025, 2024, and 2023F-8
Consolidated Statements of Changes in Stockholders’ Equity for the Years Ended December 31, 2025, 2024, and 2023F-9
Consolidated Statements of Cash Flows for the Years Ended December 31, 2025, 2024, and 2023F-11
Notes to Consolidated Financial StatementsF-13
Note 1. OrganizationF-13
Note 2. Basis of PresentationF-13
Note 3. Summary of Significant Accounting PoliciesF-15
Note 4. Segment InformationF-22
Note 5. Mortgage Banking Activities, NetF-26
Note 6. Fair Value of Financial InstrumentsF-27
Note 7. Residential Consumer LoansF-35
Note 8. Residential Investor LoansF-39
Note 9. Real Estate SecuritiesF-46
Note 10. Home Equity Investments (HEI)F-49
Note 11. Servicing InvestmentsF-51
Note 12. Strategic InvestmentsF-53
Note 13. Derivative Financial InstrumentsF-53
Note 14. Offsetting Assets and LiabilitiesF-55
Note 15. Other Assets and LiabilitiesF-57
Note 16. Principles of ConsolidationF-62
Note 17. Asset-Backed Securities IssuedF-65
Note 18. Debt ObligationsF-68
Note 19. Commitments and ContingenciesF-71
Note 20. EquityF-72
Note 21. Earnings Per Common ShareF-75
Note 22. Equity Compensation PlansF-76
Note 23. General and Administrative ExpensesF-79
Note 24. TaxesF-80
Schedule IV - Mortgage Loans on Real EstateF-83

F- 2

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.