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v3.23.2

Asset-Backed Securities Issued - Additional Information (Details) - USD ($) $ in Thousands | 6 Months Ended |  |  |  |  |  |
--- | --- | --- | --- | --- | --- | --- | ---
Jun. 30, 2023 | Dec. 31, 2052 | May 31, 2029 | Mar. 31, 2029 | Dec. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2021
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Restricted cash | [1] | $ 89,534 |  |  |  | $ 70,470 |  |
Other assets | [1] | 219,025 |  |  |  | 211,240 |  |
Variable Interest Entity, Primary Beneficiary | Point HEI |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
ABS issued, net, At amortized cost |  |  |  |  |  |  |  | $ 146,000
Variable Interest Entity, Primary Beneficiary | CoreVest |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
ABS issued, net, At amortized cost |  |  |  |  |  |  | $ 215,000 |
2022 Asset Backed Securities Sold | CoreVest |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Debt instrument, face amount |  | 215,000 |  |  |  |  |  |
Bridge loan |  | 207,000 |  |  |  |  |  |
Restricted cash |  | 45,000 |  |  |  |  |  |
2022 Asset Backed Securities Sold | Variable Interest Entity, Primary Beneficiary | CoreVest |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Debt instrument, face amount |  | 211,000 |  |  |  |  |  |
Unamortized debt discount |  | $ 4,000 |  |  |  |  |  |
Asset-backed securities issued |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Contractual maturities of securities (in years) |  | 5 years |  |  |  |  |  |
Asset-backed securities issued | CoreVest |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Debt instrument, face amount |  | $ 485,000 |  |  |  | $ 485,000 |  |
Bridge loan |  | 290,000 |  |  |  |  |  |
Restricted cash |  | 16,000 |  |  |  |  |  |
Total funding capacity |  | $ 250,000 |  |  |  |  |  |
Reinvestment period |  | 24 months |  |  |  |  |  |
Other assets |  | $ 7,000 |  |  |  |  |  |
Asset-backed securities issued | Variable Interest Entity, Primary Beneficiary | Forecast |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Debt Instrument interest rate (as a percent) |  |  | 2.00% |  | 2.00% |  |  |
Asset-backed securities issued | Variable Interest Entity, Primary Beneficiary | CoreVest |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Debt instrument, face amount |  | 269,000 |  |  |  |  |  |
Unamortized debt discount |  | $ 1,000 |  |  |  |  |  |
Debt Instrument interest rate (as a percent) |  | 4.32% |  |  |  |  |  |
2021 Asset Backed Securities Sold | CoreVest |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Debt instrument, face amount |  | $ 270,000 |  |  |  |  |  |
Total funding capacity |  | $ 300,000 |  |  |  |  |  |
Reinvestment period |  | 30 months |  |  |  |  |  |
2021 Asset Backed Securities Sold | Variable Interest Entity, Primary Beneficiary | Forecast |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Debt Instrument interest rate (as a percent) |  |  |  | 2.00% |  |  |  |
2021 Asset Backed Securities Sold | Variable Interest Entity, Primary Beneficiary | CoreVest |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
ABS issued, net, At amortized cost |  |  |  |  |  |  |  | $ 270,000
Debt Instrument interest rate (as a percent) |  | 2.34% |  |  |  |  |  |
[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 June 30, 2023 and December 31, 2022, assets of consolidated VIEs totaled $9,492,706 and $9,257,291, respectively. At June 30, 2023 and December 31, 2022, liabilities of consolidated VIEs totaled $8,439,522 and $8,270,276, respectively. See Note 4 for further discussion.

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