XML 71 R52.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Short-Term Debt (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Outstanding Balances of Short-Term Debt by Type of Collateral Securing Debt | The table below summarizes our short-term debt, including the facilities that are available to us, the outstanding balances, the weighted average interest rate, and the maturity information at December 31, 2023 and 2022. Table 14.1 – Short-Term Debt
|  | December 31, 2023
(Dollars in Thousands) |  | Number of Facilities |  | Outstanding Balance |  | Limit |  | Weighted Average Interest Rate (1) |  | Maturity (2) |  | Weighted Average Days Until Maturity
Facilities |  |  |  |  |  |  |  |  |  |  |  |
Residential loan warehouse |  | 4 |  |  | $ | 796,537 |  |  | $ | 1,150,000 |  |  | 7.27 | % |  | 2/2024-12/2024 |  | 202
Business purpose loan warehouse |  | 2 |  |  | 71,719 |  |  | 455,000 |  |  | 8.14 | % |  | 5/2024-6/2024 |  | 166
Real estate securities repo |  | 3 |  |  | 82,622 |  |  | — |  |  | 7.01 | % |  | 1/2024-3/2024 |  | 26
Residential MSR warehouse |  | 1 |  |  | 47,858 |  |  | 50,000 |  |  | 8.60 | % |  | 10/2024 |  | 302
HEI warehouse |  | 1 |  |  | 122,659 |  |  | 150,000 |  |  | 9.89 | % |  | 8/2024 |  | 214
Total Short-Term Debt Facilities |  | 11 |  |  | 1,121,395 |  |  |  |  |  |  |  |  |
Servicer advance financing |  | 1 |  |  | 153,653 |  |  | 240,000 |  |  | 7.71 | % |  | 12/2024 |  | 337
Subordinate securities financing |  | 1 |  |  | 124,552 |  |  | — |  |  | 7.21 | % |  | 9/2024 |  | 266
Promissory notes |  | N/A |  | 16,064 |  |  | — |  |  | 6.97 | % |  | N/A |  | N/A
Convertible notes, net |  | N/A |  | 142,558 |  |  | — |  |  | 5.63 | % |  | 7/2024 |  | 197
Total Short-Term Debt |  |  |  | $ | 1,558,222 |  |  |  |  |  |  |  |  |
|  | December 31, 2022
(Dollars in Thousands) |  | Number of Facilities |  | Outstanding Balance |  | Limit |  | Weighted Average Interest Rate (1) |  | Maturity (2) |  | Weighted Average Days Until Maturity
Facilities |  |  |  |  |  |  |  |  |  |  |  |
Residential loan warehouse |  | 7 |  |  | $ | 703,406 |  |  | $ | 2,550,000 |  |  | 6.16 | % |  | 3/2023 - 12/2023 |  | 267
Business purpose loan warehouse |  | 4 |  |  | 680,100 |  |  | 1,650,000 |  |  | 6.93 | % |  | 3/2023 - 9/2023 |  | 179
Real estate securities repo |  | 7 |  |  | 124,909 |  |  | — |  |  | 5.22 | % |  | 1/2023 - 3/2023 |  | 27
HEI warehouse |  | 1 |  |  | 111,681 |  |  | 150,000 |  |  | 8.54 | % |  | 11/2023 |  | 306
Total Short-Term Debt Facilities |  | 19 |  |  | 1,620,096 |  |  |  |  |  |  |  |  |
Servicer advance financing |  | 1 |  |  | 206,510 |  |  | 290,000 |  |  | 6.67 | % |  | 11/2023 |  | 305
Promissory notes |  | N/A |  | 27,058 |  |  | — |  |  | 6.64 | % |  | N/A |  | N/A
Convertible notes, net |  | N/A |  | 176,015 |  |  | — |  |  | 4.75 | % |  | 8/2023 |  | 227
Total Short-Term Debt |  |  |  | $ | 2,029,679 |  |  |  |  |  |  |  |  |
Footnotes to Table 14.1 (1)Borrowings under our facilities generally are uncommitted and charged interest based on a specified margin over SOFR at December 31, 2023 or 1- or 3-month LIBOR at December 31, 2022. (2)Promissory notes payable on demand to lender with 90-day notice.
Schedule of Collateral for Short-Term Debt | The following table below presents the value of loans, securities, and other assets pledged as collateral under our short-term debt facilities at December 31, 2023 and 2022. Table 14.2 – Collateral for Short-Term Debt
(In Thousands) |  | December 31, 2023 |  | December 31, 2022
Collateral Type |  |  |  |
Held-for-sale residential loans |  | $ | 907,742 |  |  | $ | 775,545 |
MSRs (1) |  | 76,560 |  |  | — |
Business purpose loans |  | 95,225 |  |  | 871,072 |
HEI |  | 237,973 |  |  | 191,278 |
Real estate securities (collateralizing debt facilities) |  |  |  |
On balance sheet |  | 4,460 |  |  | 72,133 |
Sequoia securitizations (2) |  | 52,333 |  |  | 74,170 |
Freddie Mac K-Series securitization (2) |  | 33,308 |  |  | 31,767 |
CAFL securitizations (2) |  | 32,010 |  |  | — |
Total real estate securities owned |  | 122,111 |  |  | 178,070 |
Restricted cash and other assets |  | — |  |  | 1,097 |
Total Collateral for Short-Term Debt Facilities |  | 1,439,611 |  |  | 2,017,062 |
Cash |  | 15,162 |  |  | 12,713 |
Real estate securities (collateralizing subordinate securities financing) |  | 175,096 |  |  | — |
Servicer advances |  | 225,345 |  |  | 269,259 |
Total Collateral for Short-Term Debt |  | $ | 1,855,214 |  |  | $ | 2,299,034 |
(1)Includes certificated mortgage servicing rights classified as securities on our consolidated balance sheets. (2)Represents securities we retained from consolidated securitization entities. For GAAP purposes, we consolidate the loans and non-recourse ABS issued from these securitizations.
Schedule of Remaining Maturities of Short Term Debt | The following table presents the remaining maturities of our secured short-term debt by the type of collateral securing the debt at December 31, 2023. Table 14.3 – Short-Term Debt by Collateral Type and Remaining Maturities
|  | December 31, 2023
(In Thousands) |  | Within 30 days |  | 31 to 90 days |  | Over 90 days |  | Total
Collateral Type |  |  |  |  |  |  |  |
Held-for-sale residential loans |  | $ | — |  |  | $ | 176,502 |  |  | $ | 620,035 |  |  | $ | 796,537 |
Business purpose loans |  | — |  |  | — |  |  | 71,719 |  |  | 71,719 |
Real estate securities |  | 53,963 |  |  | 28,659 |  |  | 124,552 |  |  | 207,174 |
MSRs |  | — |  |  | — |  |  | 47,858 |  |  | 47,858 |
HEI |  | — |  |  | — |  |  | 122,659 |  |  | 122,659 |
Servicer advances |  | — |  |  | — |  |  | 153,653 |  |  | 153,653 |
Total Secured Short-Term Debt Facilities |  | 53,963 |  |  | 205,161 |  |  | 1,140,476 |  |  | 1,399,600 |
Promissory notes (unsecured) |  | — |  |  | 16,064 |  |  | — |  |  | 16,064 |
Convertible notes, net (unsecured) |  | — |  |  | — |  |  | 142,558 |  |  | 142,558 |
Total Short-Term Debt |  | $ | 53,963 |  |  | $ | 221,225 |  |  | $ | 1,283,034 |  |  | $ | 1,558,222 |

X
- Definition Schedule Collateral for Short-Term Debt [Table Text Block] + References No definition available. + Details
Name: | rwt_ScheduleCollateralforShortTermDebtTableTextBlock
Namespace Prefix: | rwt_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Maturities of Debt Disclosure. + References No definition available. + Details
Name: | rwt_ScheduleOfMaturitiesOfDebtDisclosureTextBlock
Namespace Prefix: | rwt_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
Name: | us-gaap_ScheduleOfShortTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration