v3.23.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
ASSETS    
Real estate securities, at fair value [1] $ 166,819 $ 240,475
Home equity investments, at fair value [1] 427,307 403,462
Other investments [1] 355,537 390,938
Cash and cash equivalents [1] 357,308 258,894
Restricted cash [1] 89,534 70,470
Goodwill [1] 23,373 23,373
Intangible assets [1] 34,677 40,892
Derivative assets [1] 20,436 20,830
Other assets [1] 219,025 211,240
Total Assets [1] 12,796,734 13,030,899
Liabilities    
Short-term debt, net [1] 1,457,122 2,029,679
Derivative liabilities [1] 2,316 16,855
Accrued expenses and other liabilities [1] 228,114 180,203
Asset-backed securities issued (includes $7,702,826 and $7,424,132 at fair value), net [1] 8,183,170 7,986,752
Long-term debt, net [1] 1,801,874 1,733,425
Total liabilities [1] 11,672,596 11,946,914
Commitments and Contingencies [1]
Equity    
Preferred stock, par value $0.01 per share, 2,800,000 shares authorized; 2,800,000 and zero issued and outstanding [1] 66,923 0
Common stock, par value $0.01 per share, 395,000,000 shares authorized; 114,177,992 and 113,484,675 issued and outstanding [1] 1,142 1,135
Additional paid-in capital [1] 2,358,675 2,349,845
Accumulated other comprehensive loss [1] (62,091) (68,868)
Cumulative earnings [1] 1,157,686 1,153,370
Cumulative distributions to stockholders [1] (2,398,197) (2,351,497)
Total equity [1] 1,124,138 1,083,985
Total Liabilities and Equity [1] 12,796,734 13,030,899
Residential loans held-for-sale    
ASSETS    
Fair value of loans [1] 196,737 780,781
Residential loans, held-for-investment, at fair value    
ASSETS    
Fair value of loans [1] 5,259,162 4,832,407
Business purpose loans, held-for-sale, at fair value    
ASSETS    
Fair value of loans [1] 282,836 364,073
Business purpose loans, held-for-investment, at fair value    
ASSETS    
Fair value of loans [1] 4,943,887 4,968,513
Consolidated Agency multifamily loans, at fair value    
ASSETS    
Fair value of loans [1] $ 420,096 $ 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 June 30, 2023 and December 31, 2022, assets of consolidated VIEs totaled $9,492,706 and $9,257,291, respectively. At June 30, 2023 and December 31, 2022, liabilities of consolidated VIEs totaled $8,439,522 and $8,270,276, respectively. See Note 4 for further discussion.

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