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Other Assets and Liabilities (Tables) | 12 Months Ended
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Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
Schedule of Other Assets | Other assets at December 31, 2023 and 2022 are summarized in the following table. Table 13.1 – Components of Other Assets
(In Thousands) |  | December 31, 2023 |  | December 31, 2022
REO |  | $ | 93,599 |  |  | $ | 6,455 |
Accrued interest receivable |  | 69,072 |  |  | 60,893 |
Investment receivable |  | 67,302 |  |  | 36,623 |
Deferred tax asset |  | 40,115 |  |  | 41,931 |
Margin receivable |  | 33,414 |  |  | 13,802 |
Operating lease right-of-use assets |  | 12,532 |  |  | 16,177 |
Fixed assets and leasehold improvements (1) |  | 7,829 |  |  | 12,616 |
Income tax receivables |  | 2,082 |  |  | 3,399 |
Other |  | 25,166 |  |  | 19,344 |
Total Other Assets |  | $ | 351,109 |  |  | $ | 211,240 |
(1)Fixed assets and leasehold improvements had a basis of $17 million and accumulated depreciation of $10 million at December 31, 2023.
Schedule of Accrued Expenses and Other Liabilities | Accrued expenses and other liabilities at December 31, 2023 and 2022 are summarized in the following table. Table 13.2 – Components of Accrued Expenses and Other Liabilities
(In Thousands) |  | December 31, 2023 |  | December 31, 2022
Payable to non-controlling interests |  | $ | 81,177 |  |  | $ | 44,859 |
Accrued interest payable |  | 52,755 |  |  | 46,612 |
Accrued compensation |  | 28,140 |  |  | 30,929 |
Operating lease liabilities |  | 14,725 |  |  | 18,563 |
Guarantee obligations |  | 5,781 |  |  | 6,344 |
Accrued operating expenses |  | 5,527 |  |  | 5,740 |
Current accounts payable |  | 4,992 |  |  | 4,234 |
Loan repurchase reserves |  | 4,700 |  |  | 7,051 |
Bridge loan holdbacks |  | 2,059 |  |  | 3,301 |
Preferred stock dividends payable |  | 1,478 |  |  | — |
Margin payable |  | 350 |  |  | 5,944 |
Other |  | 15,119 |  |  | 6,627 |
Total Accrued Expenses and Other Liabilities |  | $ | 216,803 |  |  | $ | 180,203 |
Schedule of Other Real Estate, Roll Forward | The following table summarizes the activity and carrying values of REO assets held at Redwood and at consolidated Legacy Sequoia, Freddie Mac SLST, and CAFL entities during the years ended December 31, 2023 and 2022. Table 13.3 – REO Activity
|  | Year Ended December 31, 2023
(In Thousands) |  | BPL Bridge(1) |  | Legacy Sequoia |  | Freddie Mac SLST |  | BPL Term at CAFL |  | Total
Balance at beginning of period |  | $ | 3,012 |  |  | $ | 544 |  |  | $ | 2,899 |  |  | $ | — |  |  | $ | 6,455 |
Transfers to REO |  | 94,022 |  |  | 18 |  |  | 3,556 |  |  | 2,684 |  |  | 100,280 |
Liquidations(2) |  | (6,752) |  |  | (562) |  |  | (3,577) |  |  | — |  |  | (10,891) |
Changes in fair value, net |  | (2,525) |  |  | — |  |  | 280 |  |  | — |  |  | (2,245) |
Balance at End of Period |  | $ | 87,757 |  |  | $ | — |  |  | $ | 3,158 |  |  | $ | 2,684 |  |  | $ | 93,599 |
|  | Year Ended December 31, 2022
(In Thousands) |  | BPL Bridge(1) |  | Legacy Sequoia |  | Freddie Mac SLST |  | BPL Term at CAFL |  | Total
Balance at beginning of period |  | $ | 13,068 |  |  | $ | 61 |  |  | $ | 2,028 |  |  | $ | 20,969 |  |  | $ | 36,126 |
Transfers to REO |  | 3,974 |  |  | 544 |  |  | 3,976 |  |  | — |  |  | 8,494 |
Liquidations(2) |  | (15,060) |  |  | (505) |  |  | (3,139) |  |  | (20,969) |  |  | (39,673) |
Changes in fair value, net |  | 1,030 |  |  | 443 |  |  | 34 |  |  | — |  |  | 1,507 |
Balance at End of Period |  | $ | 3,012 |  |  | $ | 544 |  |  | $ | 2,899 |  |  | $ | — |  |  | $ | 6,455 |
(1)Includes REO held at Redwood and within consolidated CAFL Bridge securitization entities. (2)For the years ended December 31, 2023 and 2022, REO liquidations resulted in $2 million of realized losses and $2 million of realized gains, respectively, which were recorded in Investment fair value changes, net on our consolidated statements of income (loss). The following table provides detail on the numbers of REO assets at Redwood and at consolidated Legacy Sequoia, Freddie Mac SLST, and CAFL entities at December 31, 2023 and 2022. Table 13.4 – REO Assets
Number of REO assets |  | Redwood Bridge |  | Legacy Sequoia |  | Freddie Mac SLST |  | BPL Term at CAFL |  | Total
At December 31, 2023 |  | 16 |  |  | — |  |  | 28 |  |  | 1 |  |  | 45 |
At December 31, 2022 |  | 2 |  |  | 2 |  |  | 24 |  |  | — |  |  | 28 |

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