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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
ASSETS    
Real estate securities, at fair value [1] $ 212,307 $ 127,797
Home equity investments, at fair value [1] 560,745 550,436
Other investments [1] 337,345 343,930
Cash and cash equivalents [1] 275,394 293,104
Restricted cash [1] 64,993 75,684
Goodwill [1] 23,373 23,373
Intangible assets [1] 25,657 28,462
Derivative assets [1] 3,155 14,212
Other assets [1] 333,631 351,109
Total Assets [1] 15,057,974 14,504,327
Liabilities    
Short-term debt, net [1] 1,251,444 1,558,222
Derivative liabilities [1] 5,849 33,828
Accrued expenses and other liabilities [1] 241,191 216,803
Asset-backed securities issued (includes $9,979,891 and $9,151,263 at fair value), net [1] 10,628,189 9,811,880
Long-term debt, net [1] 1,707,138 1,680,901
Total liabilities [1] 13,833,811 13,301,634
Commitments and Contingencies [1]
Equity    
Preferred stock, par value $0.01 per share, 2,990,000 shares authorized; 2,800,000 issued and outstanding [1] 66,948 66,948
Common stock, par value $0.01 per share, 392,010,000 shares authorized; 131,870,835 and 131,485,661 issued and outstanding [1] 1,319 1,315
Additional paid-in capital [1] 2,493,856 2,487,848
Accumulated other comprehensive loss [1] (48,901) (57,957)
Cumulative earnings [1] 1,172,924 1,144,412
Cumulative distributions to stockholders [1] (2,461,983) (2,439,873)
Total equity [1] 1,224,163 1,202,693
Total Liabilities and Equity [1] 15,057,974 14,504,327
Residential consumer loans, held-for-sale, at fair value    
ASSETS    
Fair value of loans [1] 511,706 911,192
Residential consumer loans, held-for-investment, at fair value    
ASSETS    
Fair value of loans [1] 7,104,886 6,139,445
Residential investor loans, held-for-sale, at fair value    
ASSETS    
Fair value of loans [1] 280,551 180,250
Residential investor loans, held-for-investment, at fair value    
ASSETS    
Fair value of loans [1] 4,901,443 5,040,048
Consolidated Agency multifamily loans, at fair value    
ASSETS    
Fair value of loans [1] $ 422,788 $ 425,285
[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, 2024 and December 31, 2023, assets of consolidated VIEs totaled $11,850,461 and $10,988,885, respectively. At March 31, 2024 and December 31, 2023, liabilities of consolidated VIEs totaled $10,921,862 and $10,096,308, respectively. See Note 4 for further discussion.

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