XML 74 R60.htm IDEA: XBRL DOCUMENT v3.8.0.1
Fair Value of Financial Instruments - Carrying Values and Estimated Fair Values of Assets and Liabilities (Details) - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Assets    
Trading securities $ 820,134 $ 445,687
Available-for-sale securities 536,138 572,752
MSRs [1] 62,928 118,526
Derivative assets [1] 11,948 36,595
Pledged collateral 42,933 42,875
Liabilities    
Derivative liabilities [1] 65,238 66,329
Carrying Value    
Assets    
Trading securities 820,134 445,687
Available-for-sale securities 536,138 572,752
MSRs 62,928 118,526
Cash and cash equivalents 257,611 212,844
Restricted cash 26,258 8,623
Accrued interest receivable 21,256 18,454
Derivative assets 11,948 36,595
REO 3,020 5,533
Margin receivable 93,679 68,038
FHLBC stock 43,393 43,393
Guarantee asset 3,049 4,092
Pledged collateral 42,933 42,875
Liabilities    
Short-term debt facilities 988,054 791,539
Accrued interest payable 18,836 9,608
Margin payable 841 12,783
Guarantee obligation 20,101 21,668
Derivative liabilities 65,238 66,329
ABS issued, net, Fair value 944,288 773,462
FHLBC long-term borrowings 1,999,999 1,999,999
Convertible notes, net 686,058 482,195
Trust preferred securities and subordinated notes, net 138,524 138,489
Carrying Value | Residential Loans | Residential loans    
Assets    
Loans, held-for-sale 924,594 834,193
Carrying Value | Residential loans, at lower of cost or fair value | Residential loans    
Assets    
Loans, held-for-sale 1,087 1,206
Carrying Value | Residential Loans Held For Investment at Fair Value | Residential loans    
Assets    
Loans receivable, fair value 3,259,239 3,052,652
Carrying Value | Commercial Loans | Valuation adjustments on commercial loans held-for-sale    
Assets    
Loans, held-for-sale 0 2,700
Fair Value    
Assets    
Trading securities 820,134 445,687
Available-for-sale securities 536,138 572,752
MSRs 62,928 118,526
Cash and cash equivalents 257,611 212,844
Restricted cash 26,258 8,623
Accrued interest receivable 21,256 18,454
Derivative assets 11,948 36,595
REO 3,441 5,560
Margin receivable 93,679 68,038
FHLBC stock 43,393 43,393
Guarantee asset 3,049 4,092
Pledged collateral 42,933 42,875
Liabilities    
Short-term debt facilities 988,054 791,539
Accrued interest payable 18,836 9,608
Margin payable 841 12,783
Guarantee obligation 19,682 22,181
Derivative liabilities 65,238 66,329
ABS issued, net, Fair value 944,288 773,462
FHLBC long-term borrowings 1,999,999 1,999,999
Convertible notes, net 705,703 493,365
Trust preferred securities and subordinated notes, net 101,138 96,255
Fair Value | Residential Loans | Residential loans    
Assets    
Loans, held-for-sale 924,594 834,193
Fair Value | Residential loans, at lower of cost or fair value | Residential loans    
Assets    
Loans, held-for-sale 1,227 1,365
Fair Value | Residential Loans Held For Investment at Fair Value | Residential loans    
Assets    
Loans receivable, fair value 3,259,239 3,052,652
Fair Value | Commercial Loans | Valuation adjustments on commercial loans held-for-sale    
Assets    
Loans, held-for-sale $ 0 $ 2,700
[1] Our consolidated balance sheets include assets of consolidated variable interest entities (“VIEs”) that can only be used to settle obligations of these VIEs and liabilities of consolidated VIEs for which creditors do not have recourse to Redwood Trust, Inc. or its affiliates. At September 30, 2017 and December 31, 2016, assets of consolidated VIEs totaled $995,768 and $798,317, respectively. At September 30, 2017 and December 31, 2016, liabilities of consolidated VIEs totaled $945,873 and $773,980, respectively. See Note 4 for further discussion.