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Other Assets and Liabilities - Schedule of Components of Accrued Expenses and Other Liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]    
Payable to non-controlling interests $ 130,255 $ 123,258
Margin payable 120,187 20,340
Accrued interest payable 81,796 70,988
Accrued compensation 19,552 34,002
Operating lease liabilities 13,069 11,028
Accrued operating expenses 13,398 11,074
Accrued taxes payable 5,544 0
Current accounts payable 10,098 6,803
Unsettled trades 34,921 5,127
Guarantee obligations 2,447 2,806
Repurchase reserve 4,430 4,727
Bridge loan holdbacks 2,148 2,148
Preferred stock dividends payable 1,478 1,478
Other 17,195 19,958
Total Accrued Expenses and Other Liabilities [1] $ 456,518 $ 313,737
[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 March 31, 2025 and December 31, 2024, assets of consolidated VIEs totaled $15,936,091 and $14,654,942, respectively. At March 31, 2025 and December 31, 2024, liabilities of consolidated VIEs totaled $14,825,826 and $13,620,239, respectively. See Note 16 for further discussion.