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Principles of Consolidation - Schedule of Assets and Liabilities of Consolidated VIEs (Details)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
USD ($)
Investment
securitization
Sep. 30, 2025
USD ($)
Investment
securitization
Sep. 30, 2025
USD ($)
Investment
loan
Sep. 30, 2025
USD ($)
Investment
securitization_entity
Dec. 31, 2024
USD ($)
loan
Investment
Sep. 30, 2024
USD ($)
Variable Interest Entity [Line Items]            
Home equity investments [1] $ 326,223 $ 326,223 $ 326,223 $ 326,223 $ 589,785  
Other investments [1] 82,493 82,493 82,493 82,493 78,123  
Cash and cash equivalents 226,321 [1] 226,321 [1] 226,321 [1] 226,321 [1] 245,165 [1] $ 253,673
Accrued interest receivable 123,213 123,213 123,213 123,213 115,832  
Other assets [1] 398,488 398,488 398,488 398,488 415,717  
Total Assets 22,600,766 [1] 22,600,766 [1] 22,600,766 [1] 22,600,766 [1] 18,258,344 [1] $ 18,427,426
Accrued interest payable 91,971 91,971 91,971 91,971 70,988  
Accrued expenses and other liabilities [1] 363,026 363,026 363,026 363,026 313,737  
Asset-backed securities issued [1] 16,825,018 16,825,018 16,825,018 16,825,018 13,270,204  
Total liabilities [1] 21,601,752 $ 21,601,752 21,601,752 21,601,752 17,070,481  
Securitization entity | securitization   3        
AFS $ 284,372 $ 284,372 284,372 $ 284,372 211,474  
Number of securitization transactions co-sponsored, called upon | securitization 1          
Residential investor term loans held by CAFL            
Variable Interest Entity [Line Items]            
Securitization entity   2   2    
Fair value of securities owned $ 333,000 $ 333,000 333,000 $ 333,000 326,000  
At consolidated CAFL Bridge entities            
Variable Interest Entity [Line Items]            
Fair value of securities owned 40,000 40,000 40,000 40,000 29,000  
Freddie Mac SLST            
Variable Interest Entity [Line Items]            
Fair value of securities owned 254,000 254,000 254,000 254,000 242,000  
Consolidated Sequoia Securitizations            
Variable Interest Entity [Line Items]            
Fair value of securities owned 650,000 650,000 650,000 650,000 418,000  
AFS 432,000 432,000 $ 432,000 $ 432,000 $ 184,000  
Sequoia Re-securitization Trust            
Variable Interest Entity [Line Items]            
Securitization entity     3 3 1  
AFS 187,000 187,000 $ 187,000 $ 187,000 $ 79,000  
VIEs            
Variable Interest Entity [Line Items]            
Total Assets 18,284,133 18,284,133 18,284,133 18,284,133 14,654,942  
Total liabilities 17,164,811 17,164,811 17,164,811 17,164,811 13,620,239  
VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Home equity investments 192,067 192,067 192,067 192,067 332,470  
Other investments 247,842 247,842 247,842 247,842 262,353  
Cash and cash equivalents 26,379 26,379 26,379 26,379 13,243  
Restricted cash 73,381 73,381 73,381 73,381 31,036  
Accrued interest receivable 94,394 94,394 94,394 94,394 71,334  
Other assets 60,575 60,575 60,575 60,575 68,176  
Total Assets 18,284,133 18,284,133 18,284,133 18,284,133 14,654,942  
Debt Obligation 151,024 151,024 151,024 151,024 159,031  
Accrued interest payable 65,247 65,247 65,247 65,247 52,141  
Accrued expenses and other liabilities 123,521 123,521 123,521 123,521 138,863  
Asset-backed securities issued 16,825,019 16,825,019 16,825,019 16,825,019 13,270,204  
Total liabilities 17,164,811 17,164,811 17,164,811 17,164,811 13,620,239  
Value of our investments in VIEs $ 1,103,477 $ 1,103,477 $ 1,103,477 $ 1,103,477 $ 1,025,744  
Number of VIEs | Investment 96 96 96 96 84  
Residential consumer loans, held-for-investment | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans $ 14,327,723 $ 14,327,723 $ 14,327,723 $ 14,327,723 $ 10,064,276  
Residential investor loans, held-for-investment | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans 3,074,326 3,074,326 3,074,326 3,074,326 3,308,172  
Consolidated Agency multifamily loans | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans 0 0 0 0 424,597  
Real estate securities | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans 187,446 187,446 187,446 187,446 79,285  
Sequoia | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Home equity investments 0 0 0 0 0  
Other investments 0 0 0 0 0  
Cash and cash equivalents 0 0 0 0 0  
Restricted cash 265 265 265 265 248  
Accrued interest receivable 66,334 66,334 66,334 66,334 43,503  
Other assets 1,984 1,984 1,984 1,984 7  
Total Assets 13,335,516 13,335,516 13,335,516 13,335,516 8,942,597  
Debt Obligation 0 0 0 0 0  
Accrued interest payable 52,967 52,967 52,967 52,967 37,191  
Accrued expenses and other liabilities 121 121 121 121 103  
Asset-backed securities issued 12,863,482 12,863,482 12,863,482 12,863,482 8,585,077  
Total liabilities 12,916,570 12,916,570 12,916,570 12,916,570 8,622,371  
Value of our investments in VIEs $ 405,506 $ 405,506 $ 405,506 $ 405,506 $ 313,833  
Number of VIEs | Investment 67 67 67 67 54  
Sequoia | Residential consumer loans, held-for-investment | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans $ 13,079,487 $ 13,079,487 $ 13,079,487 $ 13,079,487 $ 8,819,554  
Sequoia | Residential investor loans, held-for-investment | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans 0 0 0 0 0  
Sequoia | Consolidated Agency multifamily loans | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans 0 0 0 0 0  
Sequoia | Real estate securities | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans 187,446 187,446 187,446 187,446 79,285  
Residential investor term loans held by CAFL | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Home equity investments 0 0 0 0 0  
Other investments 0 0 0 0 0  
Cash and cash equivalents 0 0 0 0 0  
Restricted cash 68,470 68,470 68,470 68,470 22,385  
Accrued interest receivable 21,809 21,809 21,809 21,809 19,998  
Other assets 53,533 53,533 53,533 53,533 60,859  
Total Assets 3,218,138 3,218,138 3,218,138 3,218,138 3,411,414  
Debt Obligation 0 0 0 0 0  
Accrued interest payable 8,259 8,259 8,259 8,259 9,410  
Accrued expenses and other liabilities 47,100 47,100 47,100 47,100 28,672  
Asset-backed securities issued 2,714,391 2,714,391 2,714,391 2,714,391 2,932,749  
Total liabilities 2,769,750 2,769,750 2,769,750 2,769,750 2,970,831  
Value of our investments in VIEs $ 446,511 $ 446,511 $ 446,511 $ 446,511 $ 438,590  
Number of VIEs | Investment 22 22 22 22 21  
Residential investor term loans held by CAFL | Residential consumer loans, held-for-investment | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans $ 0 $ 0 $ 0 $ 0 $ 0  
Residential investor term loans held by CAFL | Residential investor loans, held-for-investment | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans 3,074,326 3,074,326 3,074,326 3,074,326 3,308,172  
Residential investor term loans held by CAFL | Consolidated Agency multifamily loans | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans 0 0 0 0 0  
Residential investor term loans held by CAFL | Real estate securities | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans 0 0 0 0 0  
Freddie Mac SLST | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Home equity investments 0 0 0 0 0  
Other investments 0 0 0 0 0  
Cash and cash equivalents 0 0 0 0 0  
Restricted cash 0 0 0 0 0  
Accrued interest receivable 4,300 4,300 4,300 4,300 4,510  
Other assets 2,272 2,272 2,272 2,272 2,987  
Total Assets 1,254,808 1,254,808 1,254,808 1,254,808 1,252,219  
Debt Obligation 0 0 0 0 0  
Accrued interest payable 3,773 3,773 3,773 3,773 4,062  
Accrued expenses and other liabilities 0 0 0 0 0  
Asset-backed securities issued 1,119,578 1,119,578 1,119,578 1,119,578 1,151,847  
Total liabilities 1,123,351 1,123,351 1,123,351 1,123,351 1,155,909  
Value of our investments in VIEs $ 130,929 $ 130,929 $ 130,929 $ 130,929 $ 95,863  
Number of VIEs | Investment 3 3 3 3 3  
Freddie Mac SLST | Residential consumer loans, held-for-investment | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans $ 1,248,236 $ 1,248,236 $ 1,248,236 $ 1,248,236 $ 1,244,722  
Freddie Mac SLST | Residential investor loans, held-for-investment | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans 0 0 0 0 0  
Freddie Mac SLST | Consolidated Agency multifamily loans | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans 0 0 0 0 0  
Freddie Mac SLST | Real estate securities | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans 0 0 0 0 0  
Freddie Mac K-Series | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Home equity investments 0 0 0 0 0  
Other investments 0 0 0 0 0  
Cash and cash equivalents 0 0 0 0 0  
Restricted cash 0 0 0 0 0  
Accrued interest receivable 0 0 0 0 1,245  
Other assets 0 0 0 0 0  
Total Assets 0 0 0 0 425,842  
Debt Obligation 0 0 0 0 0  
Accrued interest payable 0 0 0 0 1,119  
Accrued expenses and other liabilities 0 0 0 0 0  
Asset-backed securities issued 0 0 0 0 389,434  
Total liabilities 0 0 0 0 390,553  
Value of our investments in VIEs $ 0 $ 0 $ 0 $ 0 $ 35,163  
Number of VIEs | Investment 0 0 0 0 1  
Freddie Mac K-Series | Residential consumer loans, held-for-investment | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans $ 0 $ 0 $ 0 $ 0 $ 0  
Freddie Mac K-Series | Residential investor loans, held-for-investment | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans 0 0 0 0 0  
Freddie Mac K-Series | Consolidated Agency multifamily loans | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans 0 0 0 0 424,597  
Freddie Mac K-Series | Real estate securities | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans 0 0 0 0    
Servicing Investment | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Home equity investments 0 0 0 0 0  
Other investments 247,842 247,842 247,842 247,842 262,353  
Cash and cash equivalents 26,379 26,379 26,379 26,379 13,243  
Restricted cash 0 0 0 0 0  
Accrued interest receivable 1,951 1,951 1,951 1,951 2,078  
Other assets 2,508 2,508 2,508 2,508 3,870  
Total Assets 278,680 278,680 278,680 278,680 281,544  
Debt Obligation 151,024 151,024 151,024 151,024 159,031  
Accrued interest payable 248 248 248 248 359  
Accrued expenses and other liabilities 32,255 32,255 32,255 32,255 27,167  
Asset-backed securities issued 0 0 0 0 0  
Total liabilities 183,527 183,527 183,527 183,527 186,557  
Value of our investments in VIEs $ 95,153 $ 95,153 $ 95,153 $ 95,153 $ 94,987  
Number of VIEs | Investment 3 3 3 3 3  
Servicing Investment | Residential consumer loans, held-for-investment | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans $ 0 $ 0 $ 0 $ 0 $ 0  
Servicing Investment | Residential investor loans, held-for-investment | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans 0 0 0 0 0  
Servicing Investment | Consolidated Agency multifamily loans | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans 0 0 0 0 0  
Servicing Investment | Real estate securities | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans 0 0 0 0 0  
HEI | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Home equity investments 192,067 192,067 192,067 192,067 332,470  
Other investments 0 0 0 0 0  
Cash and cash equivalents 0 0 0 0 0  
Restricted cash 4,646 4,646 4,646 4,646 8,403  
Accrued interest receivable 0 0 0 0 0  
Other assets 278 278 278 278 453  
Total Assets 196,991 196,991 196,991 196,991 341,326  
Debt Obligation 0 0 0 0 0  
Accrued interest payable 0 0 0 0 0  
Accrued expenses and other liabilities 44,045 44,045 44,045 44,045 82,921  
Asset-backed securities issued 127,568 127,568 127,568 127,568 211,097  
Total liabilities 171,613 171,613 171,613 171,613 294,018  
Value of our investments in VIEs $ 25,378 $ 25,378 $ 25,378 $ 25,378 $ 47,308  
Number of VIEs | Investment 1 1 1 1 2  
HEI | Residential consumer loans, held-for-investment | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans $ 0 $ 0 $ 0 $ 0 $ 0  
HEI | Residential investor loans, held-for-investment | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans 0 0 0 0 0  
HEI | Consolidated Agency multifamily loans | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans 0 0 0 0 $ 0  
HEI | Real estate securities | VIEs | Collateralized Financing Entities            
Variable Interest Entity [Line Items]            
Fair value of loans $ 0 $ 0 $ 0 $ 0    
[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 September 30, 2025 and December 31, 2024, assets of consolidated VIEs totaled $18,284,133 and $14,654,942, respectively. At September 30, 2025 and December 31, 2024, liabilities of consolidated VIEs totaled $17,164,811 and $13,620,239, respectively. See Note 16 for further discussion.