v3.24.3
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Assets    
Real estate securities, at fair value [1] $ 334,141 $ 127,797
Home equity investments, at fair value [1] 590,080 550,436
Other investments [1] 341,637 343,930
Cash and cash equivalents [1] 253,673 293,104
Restricted cash [1] 72,294 [2] 75,684
Derivative assets [1] 78,933 14,212
Other assets [1] 427,687 402,944
Total Assets [1] 18,427,426 14,504,327
Liabilities    
Asset-backed securities issued (includes $12,564,029 and $9,151,263 at fair value), net [1] 13,019,516 9,811,880
Debt obligations, net [1] 3,801,446 3,239,123
Derivative liabilities [1] 7,977 33,828
Accrued expenses and other liabilities [1] 375,487 216,803
Total liabilities [1] 17,204,426 13,301,634
Commitments and Contingencies (see Note 18) [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; 132,237,436 and 131,485,661 issued and outstanding [1] 1,322 1,315
Additional paid-in capital [1] 2,502,028 2,487,848
Accumulated other comprehensive loss [1] (39,391) (57,957)
Cumulative earnings [1] 1,199,777 1,144,412
Cumulative distributions to stockholders [1] (2,507,684) (2,439,873)
Total equity [1] 1,223,000 1,202,693
Total Liabilities and Equity [1] 18,427,426 14,504,327
Residential consumer loans, held-for-sale, at fair value    
Assets    
Fair value of loans [1] 1,362,349 911,192
Residential consumer loans, held-for-investment, at fair value    
Assets    
Fair value of loans [1] 9,794,810 6,139,445
Residential investor loans, held-for-sale, at fair value    
Assets    
Fair value of loans [1] 265,878 180,250
Residential investor loans, held-for-investment, at fair value    
Assets    
Fair value of loans [1] 4,480,296 5,040,048
Consolidated Agency multifamily loans, at fair value    
Assets    
Fair value of loans [1] $ 425,648 $ 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 September 30, 2024 and December 31, 2023, assets of consolidated VIEs totaled $14,312,672 and $10,988,885, respectively. At September 30, 2024 and December 31, 2023, liabilities of consolidated VIEs totaled $13,354,497 and $10,096,308, respectively. See Note 15 for further discussion.
[2] Restricted cash primarily includes cash held at our consolidated Servicing Investment entities, and cash associated with our risk-sharing transactions, as well as cash collateral for certain consolidated securitization entities.

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