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v3.25.2

Other Assets and Liabilities - Schedule of Components of Other Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2025 | Mar. 31, 2025 | Dec. 31, 2024
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Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |  |  |  |
Accrued interest receivable |  | $ 130,629 |  | $ 115,832
Margin receivable |  | 81,699 |  | 28,313
Real estate owned |  | 72,340 | $ 78,544 | 91,927
Investment receivable |  | 61,259 |  | 69,793
Deferred tax asset |  | 27,145 |  | 27,145
Intangible assets |  | 14,645 |  | 19,049
Operating lease right-of-use assets |  | 10,383 |  | 9,167
Fixed assets and leasehold improvements |  | 4,919 |  | 4,674
Other |  | 45,555 |  | 49,817
Total Other Assets | [1] | 448,574 |  | $ 415,717
Fixed assets |  | 19,000 |  |
Accumulated depreciation |  | $ (14,000) |  |
Operating lease right-of-use asset, statement of financial position [Extensible List] |  | Total Other Assets |  | Total Other Assets
[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, 2025 and December 31, 2024, assets of consolidated VIEs totaled $17,484,443 and $14,654,942, respectively. At June 30, 2025 and December 31, 2024, liabilities of consolidated VIEs totaled $16,386,516 and $13,620,239, respectively. See Note 16 for further discussion.

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