2023 Q2 Form 10-Q Financial Statement

#000093023623000023 Filed on May 05, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $179.0M $178.5M
YoY Change 6.89% -5.75%
Cost Of Revenue $156.0M $155.6M
YoY Change 22.87% 14.15%
Gross Profit $23.00M $22.93M
YoY Change -43.19% -56.82%
Gross Profit Margin 12.85% 12.84%
Selling, General & Admin $30.00M $33.38M
YoY Change 11.88% 9.33%
% of Gross Profit 130.43% 145.58%
Research & Development $2.854M $3.112M
YoY Change -22.93% -2.26%
% of Gross Profit 12.41% 13.57%
Depreciation & Amortization $3.665M $3.668M
YoY Change -2.03% -7.58%
% of Gross Profit 15.93% 16.0%
Operating Expenses $15.00M $44.04M
YoY Change -61.45% 1.46%
Operating Profit $8.000M -$21.11M
YoY Change 408.26% -317.68%
Interest Expense -$4.000M $152.1M
YoY Change -103.15% 11.58%
% of Operating Profit -50.0%
Other Income/Expense, Net $4.975M $3.684M
YoY Change 43.45% -9.82%
Pretax Income $2.000M $3.497M
YoY Change -101.83% -87.71%
Income Tax $0.00 -$1.123M
% Of Pretax Income 0.0% -32.11%
Net Earnings $1.000M $4.620M
YoY Change -101.0% -85.06%
Net Earnings / Revenue 0.56% 2.59%
Basic Earnings Per Share $0.00 $0.02
Diluted Earnings Per Share $0.01 $0.02
COMMON SHARES
Basic Shares Outstanding 114.0M shares 113.6M shares
Diluted Shares Outstanding 114.4M shares 114.1M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $357.0M $647.3M
YoY Change -45.52% -15.7%
Cash & Equivalents $357.0M $404.0M
Short-Term Investments $166.8M $243.3M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $357.0M $531.3M
YoY Change -24.84% 1.31%
LONG-TERM ASSETS
Property, Plant & Equipment $8.994M $9.292M
YoY Change -19.62% -8.05%
Goodwill $23.37M $23.37M
YoY Change
Intangibles $34.68M $37.78M
YoY Change
Long-Term Investments $950.0M $1.042B
YoY Change -1.45% 4.76%
Other Assets $131.5M $128.0M
YoY Change 40.72% 35.54%
Total Long-Term Assets $12.44B $12.59B
YoY Change -7.17% -8.3%
TOTAL ASSETS
Total Short-Term Assets $357.0M $531.3M
Total Long-Term Assets $12.44B $12.59B
Total Assets $12.80B $13.12B
YoY Change -7.77% -7.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.892M $3.162M
YoY Change -47.59% -85.45%
Accrued Expenses $139.9M $141.0M
YoY Change 1.36% -8.66%
Deferred Revenue
YoY Change
Short-Term Debt $1.457B $1.616B
YoY Change -22.08% -1.87%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.457B $1.762B
YoY Change -27.63% -3.36%
LONG-TERM LIABILITIES
Long-Term Debt $9.985B $10.18B
YoY Change -5.36% -6.05%
Other Long-Term Liabilities $231.0M $41.42M
YoY Change 328.97% -72.13%
Total Long-Term Liabilities $10.22B $10.22B
YoY Change -3.66% -6.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.457B $1.762B
Total Long-Term Liabilities $10.22B $10.22B
Total Liabilities $11.67B $11.98B
YoY Change -7.49% -6.44%
SHAREHOLDERS EQUITY
Retained Earnings $1.158B $1.157B
YoY Change -7.22% -14.19%
Common Stock $2.360B $2.356B
YoY Change -0.21% -1.52%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.124B $1.138B
YoY Change
Total Liabilities & Shareholders Equity $12.80B $13.12B
YoY Change -7.77% -7.94%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $1.000M $4.620M
YoY Change -101.0% -85.06%
Depreciation, Depletion And Amortization $3.665M $3.668M
YoY Change -2.03% -7.58%
Cash From Operating Activities -$78.44M $102.0M
YoY Change -60.61% -134.97%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $275.5M $557.0K
YoY Change -513.34% -51.61%
Cash From Investing Activities $275.5M $110.7M
YoY Change -513.34% -59.06%
FINANCING ACTIVITIES
Cash Dividend Paid $27.56M
YoY Change -4.27%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -240.7M -$51.62M
YoY Change -206.14% 87.8%
NET CHANGE
Cash From Operating Activities -78.44M $102.0M
Cash From Investing Activities 275.5M $110.7M
Cash From Financing Activities -240.7M -$51.62M
Net Change In Cash -43.64M $161.1M
YoY Change 12.0% -431.1%
FREE CASH FLOW
Cash From Operating Activities -$78.44M $102.0M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2022Q1 us-gaap Depreciation And Amortization
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CY2022Q1 rwt Payments For Proceeds From Derivative Instrument Operating Activities
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CY2023Q1 us-gaap Share Based Compensation
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CY2022Q1 us-gaap Share Based Compensation
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CY2022Q1 us-gaap Increase Decrease In Operating Liabilities
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CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023Q1 rwt Payments For Origination Of Loans Held For Investment
PaymentsForOriginationOfLoansHeldForInvestment
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CY2022Q1 rwt Payments For Origination Of Loans Held For Investment
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CY2023Q1 us-gaap Payments To Acquire Loans Held For Investment
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CY2022Q1 us-gaap Payments To Acquire Loans Held For Investment
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CY2023Q1 us-gaap Proceeds From Collection Of Finance Receivables
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343430000 usd
CY2022Q1 us-gaap Proceeds From Collection Of Finance Receivables
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660990000 usd
CY2023Q1 rwt Payments To Acquire Real Estate Securities
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CY2022Q1 rwt Payments To Acquire Real Estate Securities
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CY2023Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
6186000 usd
CY2022Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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ProceedsFromPrincipalRepaymentsOnSecurities
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CY2022Q1 rwt Proceeds From Principal Repayments On Securities
ProceedsFromPrincipalRepaymentsOnSecurities
23050000 usd
CY2023Q1 rwt Repayments Of Servicing Advance Investments
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7529000 usd
CY2022Q1 rwt Repayments Of Servicing Advance Investments
RepaymentsOfServicingAdvanceInvestments
45005000 usd
CY2023Q1 rwt Payments To Acquire Home Equity Investment Contracts
PaymentsToAcquireHomeEquityInvestmentContracts
16559000 usd
CY2022Q1 rwt Payments To Acquire Home Equity Investment Contracts
PaymentsToAcquireHomeEquityInvestmentContracts
40141000 usd
CY2023Q1 rwt Proceeds From Payments For Home Equity Contracts Net
ProceedsFromPaymentsForHomeEquityContractsNet
7754000 usd
CY2022Q1 rwt Proceeds From Payments For Home Equity Contracts Net
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CY2022Q1 us-gaap Payments For Proceeds From Other Investing Activities
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CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
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270497000 usd
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CY2022Q1 us-gaap Proceeds From Short Term Debt
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CY2022Q1 us-gaap Repayments Of Short Term Debt
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128970000 usd
CY2022Q1 us-gaap Repayments Of Other Debt
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308578000 usd
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2022Q1 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
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161122000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
329364000 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
531484000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
490486000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
482821000 usd
CY2023Q1 us-gaap Interest Paid Net
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138617000 usd
CY2022Q1 us-gaap Interest Paid Net
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131419000 usd
CY2023Q1 us-gaap Income Taxes Paid Net
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CY2022Q1 us-gaap Income Taxes Paid Net
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CY2023Q1 rwt Dividends Declared But Not Paid On Preferred Stock
DividendsDeclaredButNotPaidOnPreferredStock
1419000 usd
CY2022Q1 rwt Dividends Declared But Not Paid On Preferred Stock
DividendsDeclaredButNotPaidOnPreferredStock
0 usd
CY2023Q1 us-gaap Servicing Asset At Fair Value Additions
ServicingAssetAtFairValueAdditions
0 usd
CY2022Q1 us-gaap Servicing Asset At Fair Value Additions
ServicingAssetAtFairValueAdditions
4543000 usd
CY2023Q1 us-gaap Transfer Of Loans Held For Sale To Portfolio Loans1
TransferOfLoansHeldForSaleToPortfolioLoans1
873093000 usd
CY2022Q1 us-gaap Transfer Of Loans Held For Sale To Portfolio Loans1
TransferOfLoansHeldForSaleToPortfolioLoans1
1098459000 usd
CY2023Q1 us-gaap Transfer To Other Real Estate
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8014000 usd
CY2022Q1 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
1319000 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
337000 usd
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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CY2023Q1 rwt Operating Lease Liability Reduction From Lease Modification
OperatingLeaseLiabilityReductionFromLeaseModification
274000 usd
CY2022Q1 rwt Operating Lease Liability Reduction From Lease Modification
OperatingLeaseLiabilityReductionFromLeaseModification
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CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
404000000 usd
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
86000000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
259000000 usd
CY2022Q4 us-gaap Restricted Cash
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70000000 usd
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
Organization<div style="margin-top:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Redwood Trust, Inc., together with its subsidiaries, is a specialty finance company focused on several distinct areas of housing credit, with a mission to help make quality housing, whether rented or owned, accessible to all American households. Our operating platforms occupy a unique position in the housing finance value chain, providing liquidity to growing segments of the U.S. housing market not well served by government programs. We deliver customized housing credit investments to a diverse mix of investors through our best-in-class securitization platforms, whole-loan distribution activities and our publicly-traded securities. Our aggregation, origination and investment activities have evolved to incorporate a diverse mix of residential, business purpose and multifamily assets. Our goal is to provide attractive returns to shareholders through a stable and growing stream of earnings and dividends, capital appreciation, and a commitment to technological innovation that facilitates risk-minded scale. We operate our business in three segments: Residential Mortgage Banking, Business Purpose Mortgage Banking, and Investment Portfolio.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our primary sources of income are net interest income from our investments and non-interest income from our mortgage banking activities. Net interest income primarily consists of the interest income we earn on investments less the interest expense we incur on borrowed funds and other liabilities. Income from mortgage banking activities is generated through the origination and acquisition of loans, and their subsequent sale, securitization, or transfer to our investment portfolio. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Redwood Trust, Inc. has elected to be taxed as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), beginning with its taxable year ended December 31, 1994. We generally refer, collectively, to Redwood Trust, Inc. and those of its subsidiaries that are generally not subject to subsidiary-level corporate income tax as “the REIT” or “our REIT.” We generally refer to subsidiaries of Redwood Trust, Inc. that are subject to subsidiary-level corporate income tax as “our taxable REIT subsidiaries” or “TRS.” </span></div><div style="margin-top:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Redwood Trust, Inc. was incorporated in the State of Maryland on April 11, 1994, and commenced operations on August 19, 1994. References herein to “Redwood,” the “company,” “we,” “us,” and “our” include Redwood Trust, Inc. and its consolidated subsidiaries, unless the context otherwise requires. For a full description of our business, see </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Part I, Item 1—Business </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">in our Annual Report on Form 10-K for the year ended December 31, 2022.</span></div>
CY2023Q1 us-gaap Number Of Operating Segments
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3 segment
CY2023Q1 us-gaap Use Of Estimates
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<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates </span></div><div style="margin-top:8pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements requires us to make a number of significant estimates. These include estimates of fair value of certain assets and liabilities, amounts and timing of credit losses, prepayment rates, and other estimates that affect the reported amounts of certain assets and liabilities as of the date of the consolidated financial statements and the reported amounts of certain revenues and expenses during the reported periods. It is likely that changes in these estimates (e.g., valuation changes due to supply and demand, credit performance, prepayments, interest rates, or other reasons) will occur in the near term. Our estimates are inherently subjective in nature and actual results could differ from our estimates and the differences could be material.</span></div>
CY2023Q1 us-gaap Amortization Of Intangible Assets
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3000000 usd
CY2022Q1 us-gaap Amortization Of Intangible Assets
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4000000 usd
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9323000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
9412000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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8426000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
6694000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1571000 usd
CY2023Q1 rwt Finite Lived Intangible Asset Expected Amortization Year Five And Thereafter
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2358000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
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37784000 usd
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11668000 usd
CY2023Q1 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Asset
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0 usd
CY2023Q1 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned
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11668000 usd
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DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimSecurities
2103000 usd
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DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimCash
8914000 usd
CY2023Q1 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Amount Offset Against Collateral
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedAmountOffsetAgainstCollateral
651000 usd
CY2022Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Gross
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241536000 usd
CY2022Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Asset
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CY2022Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned
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241536000 usd
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DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimSecurities
226625000 usd
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DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimCash
4518000 usd
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DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedAmountOffsetAgainstCollateral
10393000 usd
CY2023Q1 rwt Market Valuation Adjustments Net
MarketValuationAdjustmentsNet
11270000 usd
CY2022Q1 rwt Market Valuation Adjustments Net
MarketValuationAdjustmentsNet
-1859000 usd
CY2023Q1 us-gaap Investments
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6000000 usd
CY2023Q1 rwt Real Estate Owned Held For Investment Percent With Original Maturities Of Thirty Years
RealEstateOwnedHeldForInvestmentPercentWithOriginalMaturitiesOfThirtyYears
0.01
CY2023Q1 us-gaap Trading Securities
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108366000 usd
CY2022Q4 us-gaap Trading Securities
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CY2023Q1 us-gaap Marketable Securities
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CY2022Q4 us-gaap Marketable Securities
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CY2023Q1 us-gaap Trading Securities
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CY2022Q4 us-gaap Trading Securities
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CY2023Q1 us-gaap Investment Owned Balance Principal Amount
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211496000 usd
CY2022Q4 us-gaap Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
215592000 usd
CY2023Q1 us-gaap Payments To Acquire Trading Securities Heldforinvestment
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1700000 usd
CY2022Q1 us-gaap Payments To Acquire Trading Securities Heldforinvestment
PaymentsToAcquireTradingSecuritiesHeldforinvestment
5006000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Trading Securities Heldforinvestment
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3509000 usd
CY2022Q1 us-gaap Proceeds From Sale Of Trading Securities Heldforinvestment
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CY2023Q1 us-gaap Increase Decrease In Trading Securities
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1961000 usd
CY2022Q1 us-gaap Increase Decrease In Trading Securities
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CY2023Q1 us-gaap Available For Sale Securities Debt Securities
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134980000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
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132146000 usd
CY2023Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
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CY2022Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
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10000000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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2678000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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131544000 usd
CY2022Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2023Q1 rwt Debt Securities Available For Sale Principal Balance Of Securities Called
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0 usd
CY2022Q1 rwt Debt Securities Available For Sale Principal Balance Of Securities Called
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CY2023Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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5007000 usd
CY2022Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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-17873000 usd
CY2023Q1 rwt Debt Securities Available For Sale Principal Balance
DebtSecuritiesAvailableForSalePrincipalBalance
217059000 usd
CY2022Q4 rwt Debt Securities Available For Sale Principal Balance
DebtSecuritiesAvailableForSalePrincipalBalance
221933000 usd
CY2023Q1 rwt Debt Securities Available For Sale Credit Reserve
DebtSecuritiesAvailableForSaleCreditReserve
28208000 usd
CY2022Q4 rwt Debt Securities Available For Sale Credit Reserve
DebtSecuritiesAvailableForSaleCreditReserve
28739000 usd
CY2023Q1 rwt Debt Securities Available For Sale Unamortized Discounts Premiums
DebtSecuritiesAvailableForSaleUnamortizedDiscountsPremiums
59334000 usd
CY2022Q4 rwt Debt Securities Available For Sale Unamortized Discounts Premiums
DebtSecuritiesAvailableForSaleUnamortizedDiscountsPremiums
61650000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
129517000 usd
CY2022Q4 rwt Number Of Securities Continuous Unrealized Loss Position More Than Twelve Months
NumberOfSecuritiesContinuousUnrealizedLossPositionMoreThanTwelveMonths
1
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
18773000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
16269000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
10742000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
13127000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
2568000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
2540000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
134980000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
132146000 usd
CY2023Q1 rwt Number Of Available For Sale Securities
NumberOfAvailableForSaleSecurities
78
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
37
CY2023Q1 rwt Number Of Securities Continuous Unrealized Loss Position More Than Twelve Months
NumberOfSecuritiesContinuousUnrealizedLossPositionMoreThanTwelveMonths
6
CY2022Q4 rwt Number Of Available For Sale Securities
NumberOfAvailableForSaleSecurities
79
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
38
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
11000000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
2600000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
2540000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not Previously Recorded
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotPreviouslyRecorded
99000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not To Sell Before Recovery Credit Loss Previously Recorded Expense Reversal
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotToSellBeforeRecoveryCreditLossPreviouslyRecordedExpenseReversal
-71000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Purchased With Credit Deterioration Increase
DebtSecuritiesAvailableForSaleAllowanceForCreditLossPurchasedWithCreditDeteriorationIncrease
0 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Securities Sold
DebtSecuritiesAvailableForSaleAllowanceForCreditLossSecuritiesSold
0 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Sell Before Recovery
DebtSecuritiesAvailableForSaleAllowanceForCreditLossSellBeforeRecovery
0 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Writeoff
DebtSecuritiesAvailableForSaleAllowanceForCreditLossWriteoff
0 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Recovery
DebtSecuritiesAvailableForSaleAllowanceForCreditLossRecovery
0 usd
CY2022Q1 rwt Net Market Valuation Gains Losses
NetMarketValuationGainsLosses
5731000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
2568000 usd
CY2023Q1 rwt Availableforsale Securities Gross Realized Gain Loss On Sales And Calls
AvailableforsaleSecuritiesGrossRealizedGainLossOnSalesAndCalls
527000 usd
CY2022Q1 rwt Availableforsale Securities Gross Realized Gain Loss On Sales And Calls
AvailableforsaleSecuritiesGrossRealizedGainLossOnSalesAndCalls
1914000 usd
CY2023Q1 rwt Home Equity Investments
HomeEquityInvestments
416783000 usd
CY2022Q4 rwt Home Equity Investments
HomeEquityInvestments
403462000 usd
CY2023Q1 rwt Net Market Valuation Gains Losses
NetMarketValuationGainsLosses
1068000 usd
CY2023Q1 us-gaap Other Investments
OtherInvestments
381690000 usd
CY2022Q4 us-gaap Other Investments
OtherInvestments
390938000 usd
CY2023Q1 rwt Number Of Partnerships Consolidated
NumberOfPartnershipsConsolidated
2 partnership
CY2023Q1 rwt Servicing Asset Receivable
ServicingAssetReceivable
232835000 usd
CY2022Q4 rwt Servicing Asset Receivable
ServicingAssetReceivable
240365000 usd
CY2023Q1 rwt Mortgage Servicing Rights Income Loss Net
MortgageServicingRightsIncomeLossNet
1000000 usd
CY2023Q1 us-gaap Margin Deposit Assets
MarginDepositAssets
17079000 usd
CY2022Q4 us-gaap Margin Deposit Assets
MarginDepositAssets
13802000 usd
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
761000 usd
CY2023Q1 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
906488000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
3975000 usd
CY2022Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
1772298000 usd
CY2023Q1 us-gaap Interest Receivable
InterestReceivable
61397000 usd
CY2022Q4 us-gaap Interest Receivable
InterestReceivable
60893000 usd
CY2023Q1 us-gaap Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
45372000 usd
CY2022Q4 us-gaap Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
36623000 usd
CY2023Q1 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
41931000 usd
CY2022Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
41931000 usd
CY2022Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
46612000 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
15297000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
16177000 usd
CY2023Q1 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
13095000 usd
CY2022Q4 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
6455000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9292000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12616000 usd
CY2023Q1 us-gaap Income Tax Receivable
IncomeTaxReceivable
3047000 usd
CY2022Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
3399000 usd
CY2023Q1 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
25711000 usd
CY2022Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
19344000 usd
CY2023Q1 us-gaap Other Assets
OtherAssets
232221000 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
211240000 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
18000000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9000000 usd
CY2023Q1 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
51321000 usd
CY2023Q1 us-gaap Minority Interest In Limited Partnerships
MinorityInterestInLimitedPartnerships
46203000 usd
CY2022Q4 us-gaap Minority Interest In Limited Partnerships
MinorityInterestInLimitedPartnerships
44859000 usd
CY2023Q1 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
20148000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
30929000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
17638000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
18563000 usd
CY2023Q1 us-gaap Guaranty Liabilities
GuarantyLiabilities
6223000 usd
CY2022Q4 us-gaap Guaranty Liabilities
GuarantyLiabilities
6344000 usd
CY2023Q1 rwt Mortgage Loan On Real Estate Repurchase Reserve
MortgageLoanOnRealEstateRepurchaseReserve
5858000 usd
CY2022Q4 rwt Mortgage Loan On Real Estate Repurchase Reserve
MortgageLoanOnRealEstateRepurchaseReserve
7051000 usd
CY2023Q1 rwt Accrued Operating Expenses
AccruedOperatingExpenses
5696000 usd
CY2022Q4 rwt Accrued Operating Expenses
AccruedOperatingExpenses
5740000 usd
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
3162000 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
4234000 usd
CY2023Q1 rwt Bridge Loan Holdback
BridgeLoanHoldback
2953000 usd
CY2022Q4 rwt Bridge Loan Holdback
BridgeLoanHoldback
3301000 usd
CY2023Q1 rwt Margin Payable
MarginPayable
2558000 usd
CY2022Q4 rwt Margin Payable
MarginPayable
5944000 usd
CY2023Q1 rwt Unsettled Trade Liabilities Current
UnsettledTradeLiabilitiesCurrent
1704000 usd
CY2022Q4 rwt Unsettled Trade Liabilities Current
UnsettledTradeLiabilitiesCurrent
0 usd
CY2023Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
1419000 usd
CY2022Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
0 usd
CY2023Q1 rwt Other Liabilities Miscellaneous
OtherLiabilitiesMiscellaneous
11388000 usd
CY2022Q4 rwt Other Liabilities Miscellaneous
OtherLiabilitiesMiscellaneous
6626000 usd
CY2023Q1 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
176271000 usd
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
180203000 usd
CY2022Q4 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
6455000 usd
CY2023Q1 us-gaap Real Estate Acquisitions Through Foreclosures
RealEstateAcquisitionsThroughForeclosures
8014000 usd
CY2023Q1 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
1356000 usd
CY2023Q1 us-gaap Principal Investment Gains Losses
PrincipalInvestmentGainsLosses
-18000 usd
CY2023Q1 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
13095000 usd
CY2023Q1 rwt Realized Gain Loss From Liquidation
RealizedGainLossFromLiquidation
100000 usd
CY2023Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
30 asset
CY2022Q4 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
28 asset
CY2018 rwt Number Of Partnerships Consolidated
NumberOfPartnershipsConsolidated
2 partnership
CY2023Q1 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
1000000 usd
CY2022Q1 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
1000000 usd
CY2023Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
1616452000 usd
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
2029679000 usd
CY2023Q1 rwt Shortterm Debt Pledgedas Collateral
ShorttermDebtPledgedasCollateral
2013399000 usd
CY2022Q4 rwt Shortterm Debt Pledgedas Collateral
ShorttermDebtPledgedasCollateral
2299034000 usd
CY2023Q1 us-gaap Shortterm Debt Average Outstanding Amount
ShorttermDebtAverageOutstandingAmount
1170000000 usd
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
7000000 usd
CY2023Q1 us-gaap Interest Payable Current
InterestPayableCurrent
7000000 usd
CY2023Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
1616452000 usd
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1743934000 usd
CY2023Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
10906000 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
1733028000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1746145000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
12720000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
1733425000 usd
CY2023Q1 us-gaap Debt Instrument Collateral Amount
DebtInstrumentCollateralAmount
1414099000 usd
CY2022Q4 us-gaap Debt Instrument Collateral Amount
DebtInstrumentCollateralAmount
1379856000 usd
CY2023Q1 rwt Interest Payable Noncurrent
InterestPayableNoncurrent
16069000 usd
CY2022Q4 rwt Interest Payable Noncurrent
InterestPayableNoncurrent
11966000 usd
CY2023Q1 rwt Lessee Number Of Leases
LesseeNumberOfLeases
10 lease
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
20000000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1000000 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1000000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3699000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4554000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3629000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3520000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2588000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1991000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
19981000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2343000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
17638000 usd
CY2023Q1 rwt Lessee Number Of Office Leases
LesseeNumberOfOfficeLeases
1 lease
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
18000000 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
15000000 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.052
CY2018 rwt Commitment To Fund Partnership Number Of Partnerships
CommitmentToFundPartnershipNumberOfPartnerships
2 partnership
CY2023Q1 us-gaap Guaranty Liabilities
GuarantyLiabilities
6000000 usd
CY2023Q1 rwt Guarantee Obligation Credit Reserve
GuaranteeObligationCreditReserve
5000000 usd
CY2022Q4 rwt Special Purpose Entities Assets
SpecialPurposeEntitiesAssets
30000000 usd
CY2023Q1 rwt Special Purpose Entities Assets
SpecialPurposeEntitiesAssets
30000000 usd
CY2023Q1 rwt Special Purpose Entities Liabilities
SpecialPurposeEntitiesLiabilities
6000000 usd
CY2022Q4 rwt Special Purpose Entities Liabilities
SpecialPurposeEntitiesLiabilities
6000000 usd
CY2023Q1 us-gaap Litigation Reserve
LitigationReserve
2000000 usd
CY2023Q1 us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
0.60417
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3201000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
30915000 usd
CY2023Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
1404000 usd
CY2022Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
1209000 usd
CY2023Q1 rwt Net Income Loss Allocated To Common Stockholders
NetIncomeLossAllocatedToCommonStockholders
1797000 usd
CY2022Q1 rwt Net Income Loss Allocated To Common Stockholders
NetIncomeLossAllocatedToCommonStockholders
29706000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
113678911 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
119884172 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.25
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3201000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
30915000 usd
CY2023Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
1404000 usd
CY2022Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
1348000 usd
CY2023Q1 rwt Interest And Gain Loss On Extinguishment Of Convertible Debt Net Of Tax
InterestAndGainLossOnExtinguishmentOfConvertibleDebtNetOfTax
0 usd
CY2022Q1 rwt Interest And Gain Loss On Extinguishment Of Convertible Debt Net Of Tax
InterestAndGainLossOnExtinguishmentOfConvertibleDebtNetOfTax
4582000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1797000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
34149000 usd
CY2023Q1 rwt Allocated Sharebased Compensation Expense Including Restructuring
AllocatedSharebasedCompensationExpenseIncludingRestructuring
6190000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
113678911 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
119884172 shares
CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
455645 shares
CY2022Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
290831 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
20331154 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
114134556 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
140506157 shares
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.24
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
42000000 usd
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
40188000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
8354000 usd
CY2023Q1 rwt Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost Forfeitures
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCostForfeitures
174000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
42178000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y
CY2023Q1 rwt Employee Stock Purchase Plan Number Of Shares Authorized
EmployeeStockPurchasePlanNumberOfSharesAuthorized
850000 shares
CY2023Q1 rwt Employee Stock Purchase Plan Number Of Shares Purchased By Employee
EmployeeStockPurchasePlanNumberOfSharesPurchasedByEmployee
686251 shares
CY2022 rwt Employee Stock Purchase Plan Number Of Shares Purchased By Employee
EmployeeStockPurchasePlanNumberOfSharesPurchasedByEmployee
657777 shares
CY2023Q1 rwt Mortgage Banking Activities Net
MortgageBankingActivitiesNet
16671000 usd
CY2022Q1 rwt Mortgage Banking Activities Net
MortgageBankingActivitiesNet
16315000 usd
CY2023Q1 rwt Mortgage Servicing Rights Income Loss Net
MortgageServicingRightsIncomeLossNet
1077000 usd
CY2022Q1 rwt Mortgage Servicing Rights Income Loss Net
MortgageServicingRightsIncomeLossNet
4303000 usd
CY2023Q1 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
1592000 usd
CY2022Q1 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
990000 usd
CY2023Q1 us-gaap Payments For Legal Settlements
PaymentsForLegalSettlements
891000 usd
CY2022Q1 us-gaap Payments For Legal Settlements
PaymentsForLegalSettlements
0 usd
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
996000 usd
CY2022Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
690000 usd
CY2023Q1 us-gaap Other Income
OtherIncome
4556000 usd
CY2022Q1 us-gaap Other Income
OtherIncome
5983000 usd
CY2023Q1 rwt Fixed Compensation Expense
FixedCompensationExpense
15359000 usd
CY2022Q1 rwt Fixed Compensation Expense
FixedCompensationExpense
14628000 usd
CY2023Q1 rwt Variable Compensation Expense
VariableCompensationExpense
4005000 usd
CY2022Q1 rwt Variable Compensation Expense
VariableCompensationExpense
3357000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7942000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5660000 usd
CY2023Q1 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
3112000 usd
CY2022Q1 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
3184000 usd
CY2023Q1 rwt Office Costs
OfficeCosts
2040000 usd
CY2022Q1 rwt Office Costs
OfficeCosts
2025000 usd
CY2023Q1 us-gaap Professional Fees
ProfessionalFees
919000 usd
CY2022Q1 us-gaap Professional Fees
ProfessionalFees
1675000 usd
CY2023Q1 us-gaap Other General Expense
OtherGeneralExpense
929000 usd
CY2022Q1 us-gaap Other General Expense
OtherGeneralExpense
864000 usd
CY2023Q1 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
1249000 usd
CY2022Q1 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
1883000 usd
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
35555000 usd
CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
33276000 usd
CY2023Q1 rwt Portfolio Management Costs
PortfolioManagementCosts
3510000 usd
CY2022Q1 rwt Portfolio Management Costs
PortfolioManagementCosts
1578000 usd
CY2023Q1 rwt Loan Acquisition Costs
LoanAcquisitionCosts
1289000 usd
CY2022Q1 rwt Loan Acquisition Costs
LoanAcquisitionCosts
4465000 usd
CY2023Q1 rwt Amortizationof Purchase Related Intangible Assets
AmortizationofPurchaseRelatedIntangibleAssets
3107000 usd
CY2022Q1 rwt Amortizationof Purchase Related Intangible Assets
AmortizationofPurchaseRelatedIntangibleAssets
3534000 usd
CY2023Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
577000 usd
CY2022Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
551000 usd
CY2023Q1 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
3684000 usd
CY2022Q1 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
4085000 usd
CY2023Q1 us-gaap Operating Expenses
OperatingExpenses
44038000 usd
CY2022Q1 us-gaap Operating Expenses
OperatingExpenses
43404000 usd
CY2023Q1 us-gaap Severance Costs1
SeveranceCosts1
1000000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1000000 usd
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2000000 usd
CY2023Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 segment
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.063
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.019
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.143
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.113
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Tax Exempt Income
EffectiveIncomeTaxRateReconciliationTaxExemptIncome
0.325
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Tax Exempt Income
EffectiveIncomeTaxRateReconciliationTaxExemptIncome
0.164
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.321
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.086
CY2023Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 segment
CY2023Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
178516000 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
152079000 usd
CY2023Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
26437000 usd
CY2023Q1 rwt Mortgage Banking Activities Net
MortgageBankingActivitiesNet
16671000 usd
CY2023Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-127000 usd
CY2023Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
4556000 usd
CY2023Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-2000 usd
CY2023Q1 us-gaap Noninterest Income
NoninterestIncome
21098000 usd
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
35555000 usd
CY2023Q1 rwt Portfolio Management Costs
PortfolioManagementCosts
3510000 usd
CY2023Q1 rwt Loan Acquisition Costs
LoanAcquisitionCosts
1289000 usd
CY2023Q1 us-gaap Other Expenses
OtherExpenses
3684000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1123000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
4620000 usd
CY2023Q1 us-gaap Adjustment For Amortization
AdjustmentForAmortization
-8895000 usd
CY2022Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
189400000 usd
CY2022Q1 us-gaap Interest Expense
InterestExpense
136298000 usd
CY2022Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
53102000 usd
CY2022Q1 rwt Mortgage Banking Activities Net
MortgageBankingActivitiesNet
16315000 usd
CY2022Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-6120000 usd
CY2022Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
5983000 usd
CY2022Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
2581000 usd
CY2022Q1 us-gaap Noninterest Income
NoninterestIncome
18759000 usd
CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
33276000 usd
CY2022Q1 rwt Portfolio Management Costs
PortfolioManagementCosts
1578000 usd
CY2022Q1 rwt Loan Acquisition Costs
LoanAcquisitionCosts
4465000 usd
CY2022Q1 us-gaap Other Expenses
OtherExpenses
4085000 usd
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2458000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
30915000 usd
CY2022Q1 us-gaap Adjustment For Amortization
AdjustmentForAmortization
1481000 usd
CY2023Q1 us-gaap Marketable Securities
MarketableSecurities
243346000 usd
CY2023Q1 rwt Home Equity Investments
HomeEquityInvestments
416783000 usd
CY2023Q1 us-gaap Other Investments
OtherInvestments
381690000 usd
CY2023Q1 us-gaap Goodwill
Goodwill
23373000 usd
CY2023Q1 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
37784000 usd
CY2023Q1 us-gaap Assets
Assets
13121286000 usd
CY2022Q4 us-gaap Marketable Securities
MarketableSecurities
240475000 usd
CY2022Q4 rwt Home Equity Investments
HomeEquityInvestments
403462000 usd
CY2022Q4 us-gaap Other Investments
OtherInvestments
390938000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
23373000 usd
CY2022Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
40892000 usd
CY2022Q4 us-gaap Assets
Assets
13030899000 usd

Files In Submission

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