v3.24.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
ASSETS    
Real estate securities, at fair value [1] $ 127,797 $ 240,475
Home equity investments, at fair value [1] 550,436 403,462
Other investments [1] 343,930 390,938
Cash and cash equivalents [1] 293,104 258,894
Restricted cash [1] 75,684 70,470
Goodwill [1] 23,373 23,373
Intangible assets [1] 28,462 40,892
Derivative assets [1] 14,212 20,830
Other assets [1] 351,109 211,240
Total Assets [1] 14,504,327 13,030,899
Liabilities    
Short-term debt, net [1] 1,558,222 2,029,679
Derivative liabilities [1] 33,828 16,855
Accrued expenses and other liabilities [1] 216,803 180,203
Asset-backed securities issued (includes $9,151,263 and $7,424,132 at fair value), net [1] 9,811,880 7,986,752
Long-term debt, net [1] 1,680,901 1,733,425
Total Liabilities [1] 13,301,634 11,946,914
Commitments and Contingencies [1]
Equity    
Preferred stock, par value $0.01 per share, 2,990,000 and zero shares authorized; 2,800,000 and zero issued and outstanding [1] 66,948 0
Common stock, par value $0.01 per share, 392,010,000 and 395,000,000 shares authorized; 131,485,661 and 113,484,675 issued and outstanding [1] 1,315 1,135
Additional paid-in capital [1] 2,487,848 2,349,845
Accumulated other comprehensive loss [1] (57,957) (68,868)
Cumulative earnings [1] 1,144,412 1,153,370
Cumulative distributions to stockholders [1] (2,439,873) (2,351,497)
Total Equity [1] 1,202,693 1,083,985
Total Liabilities and Equity [1] 14,504,327 13,030,899
Residential loans, held-for-sale, at fair value    
ASSETS    
Fair value of loans [1] 911,192 780,781
Residential loans, held-for-investment, at fair value    
ASSETS    
Fair value of loans [1] 6,139,445 4,832,407
Business purpose loans, held-for-sale, at fair value    
ASSETS    
Fair value of loans [1] 180,250 364,073
Business purpose loans, held-for-investment, at fair value    
ASSETS    
Fair value of loans [1] 5,040,048 4,968,513
Consolidated Agency multifamily loans, at fair value    
ASSETS    
Fair value of loans [1] $ 425,285 $ 424,551
[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 December 31, 2023 and 2022, assets of consolidated VIEs totaled $10,988,885 and $9,257,291, respectively. At December 31, 2023 and 2022, liabilities of consolidated VIEs totaled $10,096,308 and $8,270,276, respectively. See Note 4 for further discussion.

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