XML 56 R45.htm IDEA: XBRL DOCUMENT
v3.24.3

Other Assets and Liabilities (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
Schedule of Components of Other Assets | Other assets at September 30, 2024 and December 31, 2023 are summarized in the following table. Table 14.1 – Components of Other Assets
(In Thousands) |  | September 30, 2024 |  | December 31, 2023
Accrued interest receivable |  | $ | 103,035 |  |  | $ | 69,072 |
Real estate owned |  | 94,598 |  |  | 93,599 |
Investment receivable |  | 67,576 |  |  | 67,302 |
Deferred tax asset |  | 40,116 |  |  | 40,115 |
Margin receivable |  | 27,090 |  |  | 33,414 |
Goodwill |  | 23,373 |  |  | 23,373 |
Intangible assets |  | 21,252 |  |  | 28,462 |
Operating lease right-of-use assets |  | 9,759 |  |  | 12,532 |
Fixed assets and leasehold improvements (1) |  | 6,140 |  |  | 7,829 |
Other |  | 34,748 |  |  | 27,246 |
Total Other Assets |  | $ | 427,687 |  |  | $ | 402,944 |
(1)Fixed assets and leasehold improvements had a basis of $18 million and accumulated depreciation of $12 million at September 30, 2024.
Schedule of Activity and Carrying Values of REO Assets | The following table summarizes the activity and carrying values of REO assets held at Redwood and at consolidated Freddie Mac SLST, and CAFL entities during the three and nine months ended September 30, 2024. Table 14.2 – REO Activity
|  | Three Months Ended September 30, 2024
(In Thousands) |  | Bridge (1) |  |  |  | Freddie Mac SLST |  | Term at CAFL |  | Total
Balance at beginning of period |  | $ | 86,092 |  |  |  |  | $ | 2,527 |  |  | $ | 11,266 |  |  | $ | 99,885 |
Transfers to REO |  | — |  |  |  |  | 967 |  |  | — |  |  | 967 |
Liquidations (2) |  | (1,606) |  |  |  |  | (733) |  |  | (5) |  |  | (2,344) |
Changes in fair value, net (2) |  | (3,992) |  |  |  |  | 82 |  |  | — |  |  | (3,910) |
Balance at End of Period |  | $ | 80,494 |  |  |  |  | $ | 2,843 |  |  | $ | 11,261 |  |  | $ | 94,598 |
|  | Nine Months Ended September 30, 2024
(In Thousands) |  | Bridge (1) |  |  |  | Freddie Mac SLST |  | Term at CAFL |  | Total
Balance at beginning of period |  | $ | 87,757 |  |  |  |  | $ | 3,158 |  |  | $ | 2,684 |  |  | $ | 93,599 |
Transfers to REO |  | 3,951 |  |  |  |  | 2,267 |  |  | 8,582 |  |  | 14,800 |
Liquidations (2) |  | (1,733) |  |  |  |  | (3,067) |  |  | (5) |  |  | (4,805) |
Changes in fair value, net (2) |  | (9,481) |  |  |  |  | 485 |  |  | — |  |  | (8,996) |
Balance at End of Period |  | $ | 80,494 |  |  |  |  | $ | 2,843 |  |  | $ | 11,261 |  |  | $ | 94,598 |
(1)Includes REO held at Redwood and within consolidated CAFL Bridge securitization entities. (2)For the three and nine months ended September 30, 2024, REO market valuation adjustments and liquidations resulted in net valuation losses of $4 million and $9 million, respectively, which were recorded in Investment fair value changes, net on our consolidated statements of income
Schedule of Accrued Expenses and Other Liabilities | Accrued expenses and other liabilities at September 30, 2024 and December 31, 2023 are summarized in the following table. Table 14.3 – Components of Accrued Expenses and Other Liabilities
(In Thousands) |  | September 30, 2024 |  | December 31, 2023
Payable to noncontrolling interests |  | $ | 104,444 |  |  | $ | 81,177 |
Margin payable |  | 74,378 |  |  | 350 |
Accrued interest payable |  | 74,097 |  |  | 52,755 |
Accrued compensation |  | 31,294 |  |  | 28,140 |
Operating lease liabilities |  | 11,707 |  |  | 14,725 |
Accrued operating expenses |  | 11,308 |  |  | 5,527 |
Accrued taxes payable |  | 11,166 |  |  | — |
Current accounts payable |  | 6,504 |  |  | 4,992 |
Unsettled trades |  | 4,107 |  |  | — |
Guarantee obligations |  | 3,753 |  |  | 5,781 |
Residential consumer loan and MSR repurchase reserve |  | 3,556 |  |  | 4,700 |
Bridge loan holdbacks (1) |  | 2,148 |  |  | 2,059 |
Preferred stock dividends payable |  | 1,478 |  |  | 1,478 |
Other |  | 35,547 |  |  | 15,119 |
Total Accrued Expenses and Other Liabilities |  | $ | 375,487 |  |  | $ | 216,803 |
(1)Bridge loan holdbacks represent amounts withheld from the initial loan proceeds and are subsequently disbursed to the borrower to be used in the construction, rehabilitation or purchase of the mortgaged property or to fund interest on the bridge loan.

X
- Definition Accrued Expenses and Other Liabilities [Table Text Block] + References No definition available. + Details
Name: | rwt_AccruedExpensesAndOtherLiabilitiesTableTextBlock
Namespace Prefix: | rwt_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of the change in other real estate on properties owned. Excludes real estate assets taken in settlement of troubled loans through surrender or foreclosure by banks. + References No definition available. + Details
Name: | us-gaap_OtherRealEstateRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the carrying amounts of other assets. This disclosure includes other current assets and other noncurrent assets. + References No definition available. + Details
Name: | us-gaap_ScheduleOfOtherAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration