$RWT
REDWOOD TRUST INC

2013 Q2 Form 10-Q Financial Statement

#000119312513326821 Filed on August 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $57.72M $59.52M
YoY Change -3.03% 12.4%
Cost Of Revenue $21.50M $64.20M
YoY Change -66.51% 2575.0%
Gross Profit $36.30M -$4.700M
YoY Change -872.34% -109.29%
Gross Profit Margin 62.89% -7.9%
Selling, General & Admin $20.80M $14.40M
YoY Change 44.44% 24.14%
% of Gross Profit 57.3%
Research & Development $2.318M $1.303M
YoY Change 77.9% -31.96%
% of Gross Profit 6.39%
Depreciation & Amortization $100.0K $700.0K
YoY Change -85.71% 250.0%
% of Gross Profit 0.28%
Operating Expenses -$24.43M $15.17M
YoY Change -261.09% 25.47%
Operating Profit $60.73M -$19.87M
YoY Change -405.71% -151.58%
Interest Expense $21.42M $28.88M
YoY Change -25.85% 22.21%
% of Operating Profit 35.26%
Other Income/Expense, Net $110.5M
YoY Change
Pretax Income $68.71M $20.12M
YoY Change 241.53% 94.56%
Income Tax $3.140M $592.0K
% Of Pretax Income 4.57% 2.94%
Net Earnings $65.57M $19.53M
YoY Change 235.81% 106.88%
Net Earnings / Revenue 113.61% 32.81%
Basic Earnings Per Share $0.78 $0.24
Diluted Earnings Per Share $0.71 $0.24
COMMON SHARES
Basic Shares Outstanding 82.12M shares 78.82M shares
Diluted Shares Outstanding 96.17M shares 78.82M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.522B $1.381B
YoY Change 10.19% 1626.56%
Cash & Equivalents $207.7M $69.52M
Short-Term Investments $1.314B $1.312B
Other Short-Term Assets $1.000M $1.000M
YoY Change 0.0% 0.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $221.0M $81.00M
YoY Change 172.84% -6.9%
LONG-TERM ASSETS
Property, Plant & Equipment $859.0K $559.0K
YoY Change 53.67% -81.37%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.357B $1.573B
YoY Change -13.73% 40.32%
Other Assets $16.00M $25.00M
YoY Change -36.0% -40.48%
Total Long-Term Assets $5.214B $5.165B
YoY Change 0.95% 1.72%
TOTAL ASSETS
Total Short-Term Assets $221.0M $81.00M
Total Long-Term Assets $5.214B $5.165B
Total Assets $5.435B $5.246B
YoY Change 3.6% 1.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $93.00M $22.00M
YoY Change 322.73% 37.5%
Deferred Revenue
YoY Change
Short-Term Debt $1.446B $455.4M
YoY Change 217.5% 1010.78%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.539B $477.0M
YoY Change 222.64% 519.48%
LONG-TERM LIABILITIES
Long-Term Debt $2.658B $3.703B
YoY Change -28.22% -6.94%
Other Long-Term Liabilities $30.00M $114.0M
YoY Change -73.68% 37.35%
Total Long-Term Liabilities $2.688B $3.817B
YoY Change -29.58% -6.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.539B $477.0M
Total Long-Term Liabilities $2.688B $3.817B
Total Liabilities $4.226B $4.295B
YoY Change -1.61% 3.79%
SHAREHOLDERS EQUITY
Retained Earnings $759.2M $551.3M
YoY Change 37.72%
Common Stock $1.755B $1.707B
YoY Change 2.87%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.209B $951.2M
YoY Change
Total Liabilities & Shareholders Equity $5.435B $5.246B
YoY Change 3.6% 1.57%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $65.57M $19.53M
YoY Change 235.81% 106.88%
Depreciation, Depletion And Amortization $100.0K $700.0K
YoY Change -85.71% 250.0%
Cash From Operating Activities -$579.4M $14.10M
YoY Change -4209.22% -10.76%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $159.1M $63.90M
YoY Change 148.98% -208.31%
Cash From Investing Activities $159.1M $63.90M
YoY Change 148.98% -208.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 549.0M -157.9M
YoY Change -447.69% 62.62%
NET CHANGE
Cash From Operating Activities -579.4M 14.10M
Cash From Investing Activities 159.1M 63.90M
Cash From Financing Activities 549.0M -157.9M
Net Change In Cash 128.7M -79.90M
YoY Change -261.08% -43.05%
FREE CASH FLOW
Cash From Operating Activities -$579.4M $14.10M
Capital Expenditures $0.00
Free Cash Flow -$579.4M
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2007Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
5000000 shares
CY2013Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
82325219 shares
CY2012Q1 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
73698000
CY2012Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
951178000
CY2012Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
69519000
CY2012Q2 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
67054000
CY2013Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.04625 pure
CY2013Q1 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
287500000
CY2013Q1 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
45611000
CY2013Q1 rwt Debt Instrument Maturity Year
DebtInstrumentMaturityYear
2018
CY2013Q1 rwt Debt Instrument Redemption Date
DebtInstrumentRedemptionDate
2018-04-15
CY2013Q2 invest Derivative Notional Amount
DerivativeNotionalAmount
2537000000
CY2013Q2 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
24.31
CY2013Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
82331736 shares
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1831109 shares
CY2013Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
4005985 shares
CY2013Q2 us-gaap Interest Payable Current
InterestPayableCurrent
1000000
CY2013Q2 us-gaap Variable Interest Entity Consolidated Carrying Amount Liabilities
VariableInterestEntityConsolidatedCarryingAmountLiabilities
2216586000
CY2013Q2 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.0176 pure
CY2013Q2 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions1
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions1
47 Investment
CY2013Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
180000000 shares
CY2013Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
2294000
CY2013Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
118283000
CY2013Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
190801 shares
CY2013Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
82331736 shares
CY2013Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
2384000
CY2013Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Not Subject To Master Netting Arrangement
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedNotSubjectToMasterNettingArrangement
1475111000
CY2013Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1209313000
CY2013Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
1445961000
CY2013Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
12122000
CY2013Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
975000
CY2013Q2 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Collateral Obligation To Return Cash
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedCollateralObligationToReturnCash
24420000
CY2013Q2 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
83998000
CY2013Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
2111000
CY2013Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Amount Offset Against Collateral
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedAmountOffsetAgainstCollateral
1492123000
CY2013Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1754658000
CY2013Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
29571000
CY2013Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
759235000
CY2013Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoaned
1249000
CY2013Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
2302000
CY2013Q2 us-gaap Long Term Debt
LongTermDebt
443591000
CY2013Q2 us-gaap Liabilities
Liabilities
4226099000
CY2013Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
2056000
CY2013Q2 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
8682000
CY2013Q2 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Liability
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedLiability
CY2013Q2 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
27000000
CY2013Q2 us-gaap Common Stock Value
CommonStockValue
823000
CY2013Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
5435412000
CY2013Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Gross
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedGross
1492123000
CY2013Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
1219000
CY2013Q2 us-gaap Loans Pledged As Collateral
LoansPledgedAsCollateral
1200000000
CY2013Q2 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowed
6362000
CY2013Q2 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
13770000
CY2013Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Asset
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedAsset
CY2013Q2 us-gaap Cumulative Dividends
CumulativeDividends
1423686000
CY2013Q2 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Amount Offset Against Collateral
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedAmountOffsetAgainstCollateral
43341000
CY2013Q2 us-gaap Margin Deposit Assets
MarginDepositAssets
55926000
CY2013Q2 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
306000
CY2013Q2 us-gaap Derivative Assets
DerivativeAssets
43341000
CY2013Q2 us-gaap Investments
Investments
5279196000
CY2013Q2 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
12000
CY2013Q2 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Not Subject To Master Netting Arrangement
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedNotSubjectToMasterNettingArrangement
12559000
CY2013Q2 us-gaap Variable Interest Entity Consolidated Carrying Amount Assets
VariableInterestEntityConsolidatedCarryingAmountAssets
2573802000
CY2013Q2 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
43098000
CY2013Q2 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
1032000
CY2013Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Cash
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimCash
15763000
CY2013Q2 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
3965000
CY2013Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
859000
CY2013Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
405000
CY2013Q2 us-gaap Assets
Assets
5435412000
CY2013Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
207694000
CY2013Q2 us-gaap Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
12076000
CY2013Q2 us-gaap Interest Receivable
InterestReceivable
16111000
CY2013Q2 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
42674000
CY2013Q2 us-gaap Other Assets
OtherAssets
80383000
CY2013Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
15427000
CY2013Q2 us-gaap Available For Sale Securities
AvailableForSaleSecurities
1172690000
CY2013Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
15976000
CY2013Q2 us-gaap Other Restricted Assets
OtherRestrictedAssets
5000000
CY2013Q2 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Gross
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedGross
43341000
CY2013Q2 us-gaap Marketable Securities
MarketableSecurities
1314305000
CY2013Q2 us-gaap Trading Securities
TradingSecurities
141615000
CY2013Q2 us-gaap Loans And Leases Receivable Net Reported Amount Consumer
LoansAndLeasesReceivableNetReportedAmountConsumer
3219276000
CY2013Q2 us-gaap Loans And Leases Receivable Net Reported Amount Commercial
LoansAndLeasesReceivableNetReportedAmountCommercial
494823000
CY2013Q2 us-gaap Available For Sale Securities Pledged As Collateral
AvailableForSaleSecuritiesPledgedAsCollateral
455000000
CY2013Q2 rwt Percentage Difference Of Internal Valuation Than Dealer Marks
PercentageDifferenceOfInternalValuationThanDealerMarks
-0.03 pure
CY2013Q2 rwt Percentage Of Dealer Quotes Received On Securities
PercentageOfDealerQuotesReceivedOnSecurities
0.76 pure
CY2013Q2 rwt Number Of Securities Continuous Unrealized Loss Position More Than Twelve Months
NumberOfSecuritiesContinuousUnrealizedLossPositionMoreThanTwelveMonths
9 Investment
CY2013Q2 rwt Percentage Of Real Estate Owned
PercentageOfRealEstateOwned
0.76 pure
CY2013Q2 rwt Number Of Available For Sale Securities
NumberOfAvailableForSaleSecurities
294 Investment
CY2013Q2 rwt Debt Instrument Convertible Base Principal Amount Of Conversion
DebtInstrumentConvertibleBasePrincipalAmountOfConversion
1000
CY2013Q2 rwt Minimum Percentage Of Taxable Income Distribution To Shareholders
MinimumPercentageOfTaxableIncomeDistributionToShareholders
0.90 pure
CY2013Q2 rwt Accrued Interest Payable
AccruedInterestPayable
4000000
CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
892584000
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
267176000
CY2011Q4 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
78126000
CY2012Q4 invest Derivative Notional Amount
DerivativeNotionalAmount
1453000000
CY2012Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
81716416 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
666610 shares
CY2012Q4 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.0181 pure
CY2012Q4 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions1
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions1
22 Investment
CY2012Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
165000000 shares
CY2012Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
287516 shares
CY2012Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
81716416 shares
CY2012Q4 us-gaap Interest Payable Current
InterestPayableCurrent
1000000
CY2012Q4 us-gaap Variable Interest Entity Consolidated Carrying Amount Liabilities
VariableInterestEntityConsolidatedCarryingAmountLiabilities
2532916000
CY2012Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
138332000
CY2012Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Not Subject To Master Netting Arrangement
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedNotSubjectToMasterNettingArrangement
554128000
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1140164000
CY2012Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
551918000
CY2012Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
26902000
CY2012Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Amount Offset Against Collateral
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedAmountOffsetAgainstCollateral
603001000
CY2012Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1744554000
CY2012Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
51081000
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
633052000
CY2012Q4 us-gaap Long Term Debt
LongTermDebt
139500000
CY2012Q4 us-gaap Liabilities
Liabilities
3303934000
CY2012Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
4592000
CY2012Q4 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Liability
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedLiability
CY2012Q4 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
48000000
CY2012Q4 us-gaap Common Stock Value
CommonStockValue
817000
CY2012Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4444098000
CY2012Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Gross
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedGross
603001000
CY2012Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
1684000
CY2012Q4 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowed
762000
CY2012Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-48109000
CY2012Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Asset
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedAsset
CY2012Q4 us-gaap Cumulative Dividends
CumulativeDividends
1376591000
CY2012Q4 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Amount Offset Against Collateral
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedAmountOffsetAgainstCollateral
2972000
CY2012Q4 us-gaap Margin Deposit Assets
MarginDepositAssets
63424000
CY2012Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
4762000
CY2012Q4 us-gaap Derivative Assets
DerivativeAssets
2972000
CY2012Q4 us-gaap Investments
Investments
4343628000
CY2012Q4 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Not Subject To Master Netting Arrangement
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedNotSubjectToMasterNettingArrangement
2210000
CY2012Q4 us-gaap Variable Interest Entity Consolidated Carrying Amount Assets
VariableInterestEntityConsolidatedCarryingAmountAssets
2901214000
CY2012Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
5315000
CY2012Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
618000
CY2012Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Cash
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimCash
48873000
CY2012Q4 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
4245000
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
494000
CY2012Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
383000
CY2012Q4 us-gaap Assets
Assets
4444098000
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
81080000
CY2012Q4 us-gaap Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
153000
CY2012Q4 us-gaap Interest Receivable
InterestReceivable
12442000
CY2012Q4 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
50852000
CY2012Q4 us-gaap Other Assets
OtherAssets
75380000
CY2012Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
21684000
CY2012Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
1075581000
CY2012Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
9293000
us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
1.00 pure
CY2012Q4 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Gross
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedGross
2972000
CY2012Q4 us-gaap Marketable Securities
MarketableSecurities
1108753000
CY2012Q4 us-gaap Trading Securities
TradingSecurities
33172000
CY2012Q4 us-gaap Loans And Leases Receivable Net Reported Amount Consumer
LoansAndLeasesReceivableNetReportedAmountConsumer
2835470000
CY2012Q4 us-gaap Loans And Leases Receivable Net Reported Amount Commercial
LoansAndLeasesReceivableNetReportedAmountCommercial
313010000
CY2012Q4 rwt Number Of Securities Continuous Unrealized Loss Position More Than Twelve Months
NumberOfSecuritiesContinuousUnrealizedLossPositionMoreThanTwelveMonths
14 Investment
CY2012Q4 rwt Number Of Available For Sale Securities
NumberOfAvailableForSaleSecurities
284 Investment
dei Trading Symbol
TradingSymbol
RWT
dei Entity Registrant Name
EntityRegistrantName
REDWOOD TRUST INC
dei Amendment Flag
AmendmentFlag
false
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2013-06-30
dei Entity Central Index Key
EntityCentralIndexKey
0000930236
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
us-gaap Debt Instrument Convertible Conversion Ratio1
DebtInstrumentConvertibleConversionRatio1
41.1320 pure
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.50
us-gaap Nature Of Operations
NatureOfOperations
<div> <p style="MARGIN-TOP: 18pt; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> <b>Note 1. Redwood Trust</b></p> <p style="MARGIN-TOP: 12pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt" align="justify">Redwood Trust, Inc., together with its subsidiaries (&#x201C;Redwood,&#x201D; &#x201C;we,&#x201D; or &#x201C;us&#x201D;), is an internally-managed operating company focused on engaging in residential and commercial mortgage banking activities and investing in mortgage- and other real estate-related assets. We seek to generate fee and gain on sale income through our mortgage banking activities and to invest in real estate-related assets that have the potential to generate attractive cash flow returns over time.</p> <p style="MARGIN-TOP: 12pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt" align="justify">Our investment portfolio includes investments in residential mortgage-backed securities issued in Sequoia securitization transactions, as well as residential securities issued by third parties. We may also invest in other assets, securities, and instruments that are related to residential real estate, such as, mortgage servicing rights (&#x201C;MSRs&#x201D;). Our investment portfolio also includes investments in commercial loans that are originated through our commercial mortgage banking activities and may also include investments in commercial mortgage backed securities (&#x201C;CMBS&#x201D;) or other forms of commercial real estate financing originated by others. We assume a range of risks in our investments and the level of risk is influenced by, among other factors, the manner in which we finance our purchases of, and derive income from, our investments.</p> <p style="MARGIN-TOP: 12pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt" align="justify">Redwood was incorporated in the State of Maryland on April&#xA0;11, 1994, and commenced operations on August&#xA0;19, 1994. Our executive offices are located at One Belvedere Place, Suite 300, Mill Valley, California 94941.</p> </div>
us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
-0.205 pure
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.56
us-gaap Effective Income Tax Rate Reconciliation Deductions Dividends
EffectiveIncomeTaxRateReconciliationDeductionsDividends
-0.107 pure
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.40
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
96715 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
91647400 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2274311 shares
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.340 pure
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
7644075 shares
us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2018-04-15
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.100 pure
us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.0548 pure
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-742165000
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.072 pure
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
271392 shares
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-TOP: 12pt; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-TOP: 12pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt" align="justify">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, amount 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 period. 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.</p> </div>
us-gaap Debt Instrument Interest Rate Terms
DebtInstrumentInterestRateTerms
Substantially all ABS issued pay variable rates of interest, which are indexed to one-, three-, or six-month LIBOR.
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81729014 shares
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment
us-gaap Servicing Asset At Fair Value Period Increase Decrease
ServicingAssetAtFairValuePeriodIncreaseDecrease
9169000
us-gaap Stock Issued During Period Value Employee Stock Ownership Plan
StockIssuedDuringPeriodValueEmployeeStockOwnershipPlan
-5451000
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
22000
us-gaap Payments Of Dividends
PaymentsOfDividends
47095000
us-gaap Payments To Purchase Loans Held For Sale
PaymentsToPurchaseLoansHeldForSale
5457558000
us-gaap Income Taxes Paid
IncomeTaxesPaid
1097000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
9184000
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
12823000
us-gaap Interest Income Securities Mortgage Backed
InterestIncomeSecuritiesMortgageBacked
54831000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
298946000
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
3095514000
us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
19794000
us-gaap Real Estate Other Deductions
RealEstateOtherDeductions
1000000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
9000
us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
23854000
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
21025000
us-gaap Payments For Proceeds From Derivative Instrument Financing Activities
PaymentsForProceedsFromDerivativeInstrumentFinancingActivities
5000
us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
2687000
us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
38265000
us-gaap Increase Decrease In Operating Assets
IncreaseDecreaseInOperatingAssets
10871000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-28982000
us-gaap Interest Income Deposits With Financial Institutions
InterestIncomeDepositsWithFinancialInstitutions
149000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
313848000
us-gaap Interest Paid
InterestPaid
37581000
us-gaap Interest And Fee Income Loans Consumer Real Estate
InterestAndFeeIncomeLoansConsumerRealEstate
36469000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5741000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
140232000
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
111243000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
71426000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
106134000
us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
12231000
us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Securities Sold
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsReductionsSecuritiesSold
2191000
us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
12564000
us-gaap Shortterm Debt Average Outstanding Amount
ShorttermDebtAverageOutstandingAmount
954000000
us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
2000000
us-gaap Net Income Loss
NetIncomeLoss
126183000
us-gaap Payments To Acquire Loans And Leases Held For Investment
PaymentsToAcquireLoansAndLeasesHeldForInvestment
54539000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
11780000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-20049000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
9515000
us-gaap Derivative Instruments Loss Reclassified From Accumulated Oci Into Income Effective Portion
DerivativeInstrumentsLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortion
157000
us-gaap Dividends Common Stock
DividendsCommonStock
47095000
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
8494000
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
3673000
us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
61186000
us-gaap Proceeds From Collection Of Loans Held For Sale
ProceedsFromCollectionOfLoansHeldForSale
5169000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2652000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
825325000
us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
4635630000
us-gaap Proceeds From Sale Of Loans Held For Investment
ProceedsFromSaleOfLoansHeldForInvestment
440000
us-gaap Share Based Compensation
ShareBasedCompensation
9515000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
224000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
126614000
us-gaap Servicing Asset At Fair Value Additions
ServicingAssetAtFairValueAdditions
29000000
us-gaap Operating Expenses
OperatingExpenses
43241000
us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
1666000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
14049000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-157000
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
10014000
us-gaap Interest Expense
InterestExpense
39817000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3064000
us-gaap Severance Costs1
SeveranceCosts1
3434000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1249000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
304100000
us-gaap Impairment Of Investments
ImpairmentOfInvestments
1666000
us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment
284076000
us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Before Tax Including Portion Attributable To Noncontrolling Interest
OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxIncludingPortionAttributableToNoncontrollingInterest
0
us-gaap Professional Fees
ProfessionalFees
3052000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5883000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
31195000
us-gaap Labor And Related Expense
LaborAndRelatedExpense
29804000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
43454000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
12249000
us-gaap Interest Expense Beneficial Interests Issued By Consolidated Variable Interest Entities
InterestExpenseBeneficialInterestsIssuedByConsolidatedVariableInterestEntities
21309000
us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
4060000
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
3989557000
us-gaap Real Estate Acquisitions Through Foreclosures
RealEstateAcquisitionsThroughForeclosures
3000000
rwt Number Of Facilities
NumberOfFacilities
11 Contract
rwt Principal Amount Of Loans Securitized During Period
PrincipalAmountOfLoansSecuritizedDuringPeriod
4040000000
rwt Other Market Valuation Adjustments
OtherMarketValuationAdjustments
-4895000
rwt Debt Instrument Average Maturity Term
DebtInstrumentAverageMaturityTerm
P95D
rwt Stock Issued During Period Value Dividend Reinvestment And Employee Stock Purchase Plan
StockIssuedDuringPeriodValueDividendReinvestmentAndEmployeeStockPurchasePlan
6046000
rwt Number Of Variable Interest Entities Acquired And Consolidated
NumberOfVariableInterestEntitiesAcquiredAndConsolidated
26 Entity
rwt Mortgage Banking Activities Market Valuation Adjustments Net
MortgageBankingActivitiesMarketValuationAdjustmentsNet
91121000
rwt Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost Forfeitures
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCostForfeitures
1623000
rwt Proceeds From Principal Repayments On Securities
ProceedsFromPrincipalRepaymentsOnSecurities
81250000
rwt Employee Stock Purchase Plan Number Of Shares Purchased By Employee
EmployeeStockPurchasePlanNumberOfSharesPurchasedByEmployee
227043 shares
rwt Net Interest Income Loss After Provision And Other Market Valuation Adjustments
NetInterestIncomeLossAfterProvisionAndOtherMarketValuationAdjustments
66098000
rwt Other Than Temporary Impairment Credit Losses Recognized In Earnings Matured Called Written Down
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsMaturedCalledWrittenDown
5987000
rwt Share Based Compensation Arrangement By Share Based Payment Award Award Holding Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardHoldingPeriod
P3Y
rwt Mortgage Banking Activities Derivative Instruments Net
MortgageBankingActivitiesDerivativeInstrumentsNet
50567000
rwt Market Valuation Adjustments Net
MarketValuationAdjustmentsNet
84560000
rwt Employee Stock Purchase Plan Minimum Percentage Of Common Stock Fair Value Defined To Purchase Shares By Eligible Participants
EmployeeStockPurchasePlanMinimumPercentageOfCommonStockFairValueDefinedToPurchaseSharesByEligibleParticipants
0.85 pure
rwt Provision For Recovery Of Loan And Lease Losses
ProvisionForRecoveryOfLoanAndLeaseLosses
-1233000
rwt Payments For Proceeds From Derivative Instrument Operating Activities
PaymentsForProceedsFromDerivativeInstrumentOperatingActivities
9784000
rwt Other Market Valuation Adjustments Net
OtherMarketValuationAdjustmentsNet
-6561000
rwt Fixed Compensation Expense
FixedCompensationExpense
11690000
rwt Variable Compensation Expense
VariableCompensationExpense
8797000
rwt Mortgage Banking Activities Net
MortgageBankingActivitiesNet
104552000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.62
us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
-0.174 pure
us-gaap Effective Income Tax Rate Reconciliation Deductions Dividends
EffectiveIncomeTaxRateReconciliationDeductionsDividends
-0.226 pure
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.61
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.50
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
79965406 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.340 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.012 pure
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-219576000
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.072 pure
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
531072 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
78606336 shares
us-gaap Servicing Asset At Fair Value Period Increase Decrease
ServicingAssetAtFairValuePeriodIncreaseDecrease
-544000
us-gaap Stock Issued During Period Value Employee Stock Ownership Plan
StockIssuedDuringPeriodValueEmployeeStockOwnershipPlan
-1911000
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
3566000
us-gaap Payments Of Dividends
PaymentsOfDividends
40498000
us-gaap Payments To Purchase Loans Held For Sale
PaymentsToPurchaseLoansHeldForSale
998906000
us-gaap Income Taxes Paid
IncomeTaxesPaid
155000
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
20615000
us-gaap Interest Income Securities Mortgage Backed
InterestIncomeSecuritiesMortgageBacked
62726000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
409788000
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
679688000
us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
10881000
us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
33452000
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-3260000
us-gaap Payments For Proceeds From Derivative Instrument Financing Activities
PaymentsForProceedsFromDerivativeInstrumentFinancingActivities
12195000
us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
3406000
us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
-4674000
us-gaap Increase Decrease In Operating Assets
IncreaseDecreaseInOperatingAssets
701000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
42075000
us-gaap Interest Income Deposits With Financial Institutions
InterestIncomeDepositsWithFinancialInstitutions
35000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
322000000
us-gaap Interest Paid
InterestPaid
59152000
us-gaap Interest And Fee Income Loans Consumer Real Estate
InterestAndFeeIncomeLoansConsumerRealEstate
44622000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
50590000
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
118264000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
58728000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
91353000
us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
14774000
us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
13287000
us-gaap Shortterm Debt Average Outstanding Amount
ShorttermDebtAverageOutstandingAmount
418000000
us-gaap Net Income Loss
NetIncomeLoss
49990000
us-gaap Payments To Acquire Loans And Leases Held For Investment
PaymentsToAcquireLoansAndLeasesHeldForInvestment
95508000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
12953000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
41363000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5217000
us-gaap Derivative Instruments Loss Reclassified From Accumulated Oci Into Income Effective Portion
DerivativeInstrumentsLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortion
2000000
us-gaap Dividends Common Stock
DividendsCommonStock
40498000
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
4126000
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
1567000
us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
16606000
us-gaap Proceeds From Collection Of Loans Held For Sale
ProceedsFromCollectionOfLoansHeldForSale
4102000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3423000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-346942000
us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
754175000
us-gaap Proceeds From Sale Of Loans Held For Investment
ProceedsFromSaleOfLoansHeldForInvestment
386143000
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
96000
us-gaap Share Based Compensation
ShareBasedCompensation
5217000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1612000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-197657000
us-gaap Operating Expenses
OperatingExpenses
29799000
us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
635000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
600000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-2134000
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
4755000
us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions No Previous Impairment
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsAdditionsNoPreviousImpairment
161000
us-gaap Interest Expense
InterestExpense
59536000
us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions Additional Credit Losses
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsAdditionsAdditionalCreditLosses
91000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
292000
us-gaap Severance Costs1
SeveranceCosts1
200000
us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
1600000
us-gaap Proceeds From Divestiture Of Interest In Consolidated Subsidiaries
ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries
6386000
us-gaap Impairment Of Investments
ImpairmentOfInvestments
892000
us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment
287996000
us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Before Tax Including Portion Attributable To Noncontrolling Interest
OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxIncludingPortionAttributableToNoncontrollingInterest
257000
us-gaap Professional Fees
ProfessionalFees
2166000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5134000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
101662000
us-gaap Labor And Related Expense
LaborAndRelatedExpense
20159000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
368861000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
-414000
us-gaap Interest Expense Beneficial Interests Issued By Consolidated Variable Interest Entities
InterestExpenseBeneficialInterestsIssuedByConsolidatedVariableInterestEntities
50655000
us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
2484000
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
707051000
rwt Other Market Valuation Adjustments
OtherMarketValuationAdjustments
-708000
rwt Stock Issued During Period Value Dividend Reinvestment And Employee Stock Purchase Plan
StockIssuedDuringPeriodValueDividendReinvestmentAndEmployeeStockPurchasePlan
4433000
rwt Mortgage Banking Activities Market Valuation Adjustments Net
MortgageBankingActivitiesMarketValuationAdjustmentsNet
-11616000
rwt Proceeds From Principal Repayments On Securities
ProceedsFromPrincipalRepaymentsOnSecurities
95536000
rwt Net Interest Income Loss After Provision And Other Market Valuation Adjustments
NetInterestIncomeLossAfterProvisionAndOtherMarketValuationAdjustments
58450000
rwt Other Than Temporary Impairment Credit Losses Recognized In Earnings Matured Called Written Down
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsMaturedCalledWrittenDown
11324000
rwt Mortgage Banking Activities Derivative Instruments Net
MortgageBankingActivitiesDerivativeInstrumentsNet
-6398000
rwt Market Valuation Adjustments Net
MarketValuationAdjustmentsNet
-12959000
rwt Provision For Recovery Of Loan And Lease Losses
ProvisionForRecoveryOfLoanAndLeaseLosses
-1065000
rwt Payments For Proceeds From Derivative Instrument Operating Activities
PaymentsForProceedsFromDerivativeInstrumentOperatingActivities
-17160000
rwt Other Market Valuation Adjustments Net
OtherMarketValuationAdjustmentsNet
-1343000
rwt Fixed Compensation Expense
FixedCompensationExpense
9208000
rwt Variable Compensation Expense
VariableCompensationExpense
5617000
rwt Mortgage Banking Activities Net
MortgageBankingActivitiesNet
1324000
CY2012 rwt Number Of Facilities
NumberOfFacilities
11 Contract
CY2012 rwt Debt Instrument Average Maturity Term
DebtInstrumentAverageMaturityTerm
P84D
CY2012 rwt Employee Stock Purchase Plan Number Of Shares Purchased By Employee
EmployeeStockPurchasePlanNumberOfSharesPurchasedByEmployee
207031 shares
CY2013Q1 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
12000000
CY2013Q1 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
279000000
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.24
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.24
CY2012Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.25
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78815313 shares
CY2012Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2012Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1877664 shares
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
78815313 shares
CY2012Q2 us-gaap Servicing Asset At Fair Value Period Increase Decrease
ServicingAssetAtFairValuePeriodIncreaseDecrease
-527000
CY2012Q2 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
6995000
CY2012Q2 us-gaap Interest Income Securities Mortgage Backed
InterestIncomeSecuritiesMortgageBacked
32732000
CY2012Q2 us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
5534000
CY2012Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-16453000
CY2012Q2 us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
-5363000
CY2012Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
1374000
CY2012Q2 us-gaap Interest Income Deposits With Financial Institutions
InterestIncomeDepositsWithFinancialInstitutions
14000
CY2012Q2 us-gaap Interest And Fee Income Loans Consumer Real Estate
InterestAndFeeIncomeLoansConsumerRealEstate
21243000
CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
20119000
CY2012Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
59523000
CY2012Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
30642000
CY2012Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
5883000
CY2012Q2 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
6989000
CY2012Q2 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
6989000
CY2012Q2 us-gaap Shortterm Debt Average Outstanding Amount
ShorttermDebtAverageOutstandingAmount
474000000
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
19527000
CY2012Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-13644000
CY2012Q2 us-gaap Derivative Instruments Loss Reclassified From Accumulated Oci Into Income Effective Portion
DerivativeInstrumentsLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortion
1000000
CY2012Q2 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
2299000
CY2012Q2 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
777000
CY2012Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1682000
CY2012Q2 us-gaap Operating Expenses
OperatingExpenses
15165000
CY2012Q2 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
303000
CY2012Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
592000
CY2012Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-1098000
CY2012Q2 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
2379000
CY2012Q2 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions No Previous Impairment
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsAdditionsNoPreviousImpairment
55000
CY2012Q2 us-gaap Interest Expense
InterestExpense
28881000
CY2012Q2 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions Additional Credit Losses
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsAdditionsAdditionalCreditLosses
91000
CY2012Q2 us-gaap Impairment Of Investments
ImpairmentOfInvestments
411000
CY2012Q2 us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Before Tax Including Portion Attributable To Noncontrolling Interest
OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxIncludingPortionAttributableToNoncontrollingInterest
108000
CY2012Q2 us-gaap Professional Fees
ProfessionalFees
1048000
CY2012Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2958000
CY2012Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
10355000
CY2012Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
-337000
CY2012Q2 us-gaap Interest Expense Beneficial Interests Issued By Consolidated Variable Interest Entities
InterestExpenseBeneficialInterestsIssuedByConsolidatedVariableInterestEntities
24203000
CY2012Q2 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
1303000
CY2012Q2 rwt Other Market Valuation Adjustments
OtherMarketValuationAdjustments
217000
CY2012Q2 rwt Mortgage Banking Activities Market Valuation Adjustments Net
MortgageBankingActivitiesMarketValuationAdjustmentsNet
-9172000
CY2012Q2 rwt Net Interest Income Loss After Provision And Other Market Valuation Adjustments
NetInterestIncomeLossAfterProvisionAndOtherMarketValuationAdjustments
31896000
CY2012Q2 rwt Other Than Temporary Impairment Credit Losses Recognized In Earnings Matured Called Written Down
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsMaturedCalledWrittenDown
6790000
CY2012Q2 rwt Mortgage Banking Activities Derivative Instruments Net
MortgageBankingActivitiesDerivativeInstrumentsNet
-3282000
CY2012Q2 rwt Market Valuation Adjustments Net
MarketValuationAdjustmentsNet
-9258000
CY2012Q2 rwt Provision For Recovery Of Loan And Lease Losses
ProvisionForRecoveryOfLoanAndLeaseLosses
-1340000
CY2012Q2 rwt Other Market Valuation Adjustments Net
OtherMarketValuationAdjustmentsNet
-86000
CY2012Q2 rwt Fixed Compensation Expense
FixedCompensationExpense
4373000
CY2012Q2 rwt Variable Compensation Expense
VariableCompensationExpense
3024000
CY2012Q2 rwt Mortgage Banking Activities Net
MortgageBankingActivitiesNet
-3607000
CY2013Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.78
CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.71
CY2013Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.28
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
96171713 shares
CY2013Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2222440 shares
CY2013Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
11825450 shares
CY2013Q2 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.0553 pure
CY2013Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
255529 shares
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82123823 shares
CY2013Q2 us-gaap Servicing Asset At Fair Value Period Increase Decrease
ServicingAssetAtFairValuePeriodIncreaseDecrease
8827000
CY2013Q2 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
556000
CY2013Q2 us-gaap Interest Income Securities Mortgage Backed
InterestIncomeSecuritiesMortgageBacked
29114000
CY2013Q2 us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
9623000
CY2013Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
13585000
CY2013Q2 us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
36336000
CY2013Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-38012000
CY2013Q2 us-gaap Interest Income Deposits With Financial Institutions
InterestIncomeDepositsWithFinancialInstitutions
137000
CY2013Q2 us-gaap Interest And Fee Income Loans Consumer Real Estate
InterestAndFeeIncomeLoansConsumerRealEstate
18845000
CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
68713000
CY2013Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
57719000
CY2013Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
36256000
CY2013Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
40973000
CY2013Q2 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
193000
CY2013Q2 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Securities Sold
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsReductionsSecuritiesSold
2191000
CY2013Q2 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
526000
CY2013Q2 us-gaap Shortterm Debt Average Outstanding Amount
ShorttermDebtAverageOutstandingAmount
1050000000
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
65573000
CY2013Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-24600000
CY2013Q2 us-gaap Derivative Instruments Loss Reclassified From Accumulated Oci Into Income Effective Portion
DerivativeInstrumentsLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortion
69000
CY2013Q2 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
4686000
CY2013Q2 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
2377000
CY2013Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1355000
CY2013Q2 us-gaap Servicing Asset At Fair Value Additions
ServicingAssetAtFairValueAdditions
16000000
CY2013Q2 us-gaap Operating Expenses
OperatingExpenses
23644000
CY2013Q2 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
1642000
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3140000
CY2013Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-69000
CY2013Q2 us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Before Tax Including Portion Attributable To Noncontrolling Interest
OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxIncludingPortionAttributableToNoncontrollingInterest
0
CY2013Q2 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
6480000
CY2013Q2 us-gaap Interest Expense
InterestExpense
21463000
CY2013Q2 us-gaap Severance Costs1
SeveranceCosts1
3366000
CY2013Q2 us-gaap Impairment Of Investments
ImpairmentOfInvestments
1642000
CY2013Q2 us-gaap Professional Fees
ProfessionalFees
805000
CY2013Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3396000
CY2013Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
16789000
CY2013Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
242000
CY2013Q2 us-gaap Interest Expense Beneficial Interests Issued By Consolidated Variable Interest Entities
InterestExpenseBeneficialInterestsIssuedByConsolidatedVariableInterestEntities
10297000
CY2013Q2 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
2318000
CY2013Q2 rwt Principal Amount Of Loans Securitized During Period
PrincipalAmountOfLoansSecuritizedDuringPeriod
1800000000
CY2013Q2 rwt Other Market Valuation Adjustments
OtherMarketValuationAdjustments
-4616000
CY2013Q2 rwt Mortgage Banking Activities Market Valuation Adjustments Net
MortgageBankingActivitiesMarketValuationAdjustmentsNet
52957000
CY2013Q2 rwt Net Interest Income Loss After Provision And Other Market Valuation Adjustments
NetInterestIncomeLossAfterProvisionAndOtherMarketValuationAdjustments
33270000
CY2013Q2 rwt Other Than Temporary Impairment Credit Losses Recognized In Earnings Matured Called Written Down
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsMaturedCalledWrittenDown
746000
CY2013Q2 rwt Mortgage Banking Activities Derivative Instruments Net
MortgageBankingActivitiesDerivativeInstrumentsNet
49544000
CY2013Q2 rwt Market Valuation Adjustments Net
MarketValuationAdjustmentsNet
46699000
CY2013Q2 rwt Provision For Recovery Of Loan And Lease Losses
ProvisionForRecoveryOfLoanAndLeaseLosses
-3272000
CY2013Q2 rwt Other Market Valuation Adjustments Net
OtherMarketValuationAdjustmentsNet
-6258000
CY2013Q2 rwt Fixed Compensation Expense
FixedCompensationExpense
6067000
CY2013Q2 rwt Variable Compensation Expense
VariableCompensationExpense
3960000
CY2013Q2 rwt Mortgage Banking Activities Net
MortgageBankingActivitiesNet
58531000

Files In Submission

Name View Source Status
0001193125-13-326821-index-headers.html Edgar Link pending
0001193125-13-326821-index.html Edgar Link pending
0001193125-13-326821.txt Edgar Link pending
0001193125-13-326821-xbrl.zip Edgar Link pending
d546210d10q.htm Edgar Link pending
d546210dex104.htm Edgar Link pending
d546210dex311.htm Edgar Link pending
d546210dex312.htm Edgar Link pending
d546210dex321.htm Edgar Link pending
d546210dex322.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
g546210g50c84.jpg Edgar Link pending
g546210g98p47.jpg Edgar Link pending
R1.htm Edgar Link pending
R1.xml Edgar Link unprocessable
R10.htm Edgar Link pending
R10.xml Edgar Link unprocessable
R100.htm Edgar Link pending
R100.xml Edgar Link unprocessable
R101.htm Edgar Link pending
R101.xml Edgar Link unprocessable
R102.htm Edgar Link pending
R102.xml Edgar Link unprocessable
R103.htm Edgar Link pending
R103.xml Edgar Link unprocessable
R104.htm Edgar Link pending
R104.xml Edgar Link unprocessable
R105.htm Edgar Link pending
R105.xml Edgar Link unprocessable
R106.htm Edgar Link pending
R106.xml Edgar Link unprocessable
R107.htm Edgar Link pending
R107.xml Edgar Link unprocessable
R108.htm Edgar Link pending
R108.xml Edgar Link unprocessable
R109.htm Edgar Link pending
R109.xml Edgar Link unprocessable
R11.htm Edgar Link pending
R11.xml Edgar Link unprocessable
R110.htm Edgar Link pending
R110.xml Edgar Link unprocessable
R111.htm Edgar Link pending
R111.xml Edgar Link unprocessable
R112.htm Edgar Link pending
R112.xml Edgar Link unprocessable
R113.htm Edgar Link pending
R113.xml Edgar Link unprocessable
R114.htm Edgar Link pending
R114.xml Edgar Link unprocessable
R115.htm Edgar Link pending
R115.xml Edgar Link unprocessable
R12.htm Edgar Link pending
R12.xml Edgar Link unprocessable
R13.htm Edgar Link pending
R13.xml Edgar Link unprocessable
R14.htm Edgar Link pending
R14.xml Edgar Link unprocessable
R15.htm Edgar Link pending
R15.xml Edgar Link unprocessable
R16.htm Edgar Link pending
R16.xml Edgar Link unprocessable
R17.htm Edgar Link pending
R17.xml Edgar Link unprocessable
R18.htm Edgar Link pending
R18.xml Edgar Link unprocessable
R19.htm Edgar Link pending
R19.xml Edgar Link unprocessable
R2.htm Edgar Link pending
R2.xml Edgar Link unprocessable
R20.htm Edgar Link pending
R20.xml Edgar Link unprocessable
R21.htm Edgar Link pending
R21.xml Edgar Link unprocessable
R22.htm Edgar Link pending
R22.xml Edgar Link unprocessable
R23.htm Edgar Link pending
R23.xml Edgar Link unprocessable
R24.htm Edgar Link pending
R24.xml Edgar Link unprocessable
R25.htm Edgar Link pending
R25.xml Edgar Link unprocessable
R26.htm Edgar Link pending
R26.xml Edgar Link unprocessable
R27.htm Edgar Link pending
R27.xml Edgar Link unprocessable
R28.htm Edgar Link pending
R28.xml Edgar Link unprocessable
R29.htm Edgar Link pending
R29.xml Edgar Link unprocessable
R3.htm Edgar Link pending
R3.xml Edgar Link unprocessable
R30.htm Edgar Link pending
R30.xml Edgar Link unprocessable
R31.htm Edgar Link pending
R31.xml Edgar Link unprocessable
R32.htm Edgar Link pending
R32.xml Edgar Link unprocessable
R33.htm Edgar Link pending
R33.xml Edgar Link unprocessable
R34.htm Edgar Link pending
R34.xml Edgar Link unprocessable
R35.htm Edgar Link pending
R35.xml Edgar Link unprocessable
R36.htm Edgar Link pending
R36.xml Edgar Link unprocessable
R37.htm Edgar Link pending
R37.xml Edgar Link unprocessable
R38.htm Edgar Link pending
R38.xml Edgar Link unprocessable
R39.htm Edgar Link pending
R39.xml Edgar Link unprocessable
R4.htm Edgar Link pending
R4.xml Edgar Link unprocessable
R40.htm Edgar Link pending
R40.xml Edgar Link unprocessable
R41.htm Edgar Link pending
R41.xml Edgar Link unprocessable
R42.htm Edgar Link pending
R42.xml Edgar Link unprocessable
R43.htm Edgar Link pending
R43.xml Edgar Link unprocessable
R44.htm Edgar Link pending
R44.xml Edgar Link unprocessable
R45.htm Edgar Link pending
R45.xml Edgar Link unprocessable
R46.htm Edgar Link pending
R46.xml Edgar Link unprocessable
R47.htm Edgar Link pending
R47.xml Edgar Link unprocessable
R48.htm Edgar Link pending
R48.xml Edgar Link unprocessable
R49.htm Edgar Link pending
R49.xml Edgar Link unprocessable
R5.htm Edgar Link pending
R5.xml Edgar Link unprocessable
R50.htm Edgar Link pending
R50.xml Edgar Link unprocessable
R51.htm Edgar Link pending
R51.xml Edgar Link unprocessable
R52.htm Edgar Link pending
R52.xml Edgar Link unprocessable
R53.htm Edgar Link pending
R53.xml Edgar Link unprocessable
R54.htm Edgar Link pending
R54.xml Edgar Link unprocessable
R55.htm Edgar Link pending
R55.xml Edgar Link unprocessable
R56.htm Edgar Link pending
R56.xml Edgar Link unprocessable
R57.htm Edgar Link pending
R57.xml Edgar Link unprocessable
R58.htm Edgar Link pending
R58.xml Edgar Link unprocessable
R59.htm Edgar Link pending
R59.xml Edgar Link unprocessable
R6.htm Edgar Link pending
R6.xml Edgar Link unprocessable
R60.htm Edgar Link pending
R60.xml Edgar Link unprocessable
R61.htm Edgar Link pending
R61.xml Edgar Link unprocessable
R62.htm Edgar Link pending
R62.xml Edgar Link unprocessable
R63.htm Edgar Link pending
R63.xml Edgar Link unprocessable
R64.htm Edgar Link pending
R64.xml Edgar Link unprocessable
R65.htm Edgar Link pending
R65.xml Edgar Link unprocessable
R66.htm Edgar Link pending
R66.xml Edgar Link unprocessable
R67.htm Edgar Link pending
R67.xml Edgar Link unprocessable
R68.htm Edgar Link pending
R68.xml Edgar Link unprocessable
R69.htm Edgar Link pending
R69.xml Edgar Link unprocessable
R7.htm Edgar Link pending
R7.xml Edgar Link unprocessable
R70.htm Edgar Link pending
R70.xml Edgar Link unprocessable
R71.htm Edgar Link pending
R71.xml Edgar Link unprocessable
R72.htm Edgar Link pending
R72.xml Edgar Link unprocessable
R73.htm Edgar Link pending
R73.xml Edgar Link unprocessable
R74.htm Edgar Link pending
R74.xml Edgar Link unprocessable
R75.htm Edgar Link pending
R75.xml Edgar Link unprocessable
R76.htm Edgar Link pending
R76.xml Edgar Link unprocessable
R77.htm Edgar Link pending
R77.xml Edgar Link unprocessable
R78.htm Edgar Link pending
R78.xml Edgar Link unprocessable
R79.htm Edgar Link pending
R79.xml Edgar Link unprocessable
R8.htm Edgar Link pending
R8.xml Edgar Link unprocessable
R80.htm Edgar Link pending
R80.xml Edgar Link unprocessable
R81.htm Edgar Link pending
R81.xml Edgar Link unprocessable
R82.htm Edgar Link pending
R82.xml Edgar Link unprocessable
R83.htm Edgar Link pending
R83.xml Edgar Link unprocessable
R84.htm Edgar Link pending
R84.xml Edgar Link unprocessable
R85.htm Edgar Link pending
R85.xml Edgar Link unprocessable
R86.htm Edgar Link pending
R86.xml Edgar Link unprocessable
R87.htm Edgar Link pending
R87.xml Edgar Link unprocessable
R88.htm Edgar Link pending
R88.xml Edgar Link unprocessable
R89.htm Edgar Link pending
R89.xml Edgar Link unprocessable
R9.htm Edgar Link pending
R9.xml Edgar Link unprocessable
R90.htm Edgar Link pending
R90.xml Edgar Link unprocessable
R91.htm Edgar Link pending
R91.xml Edgar Link unprocessable
R92.htm Edgar Link pending
R92.xml Edgar Link unprocessable
R93.htm Edgar Link pending
R93.xml Edgar Link unprocessable
R94.htm Edgar Link pending
R94.xml Edgar Link unprocessable
R95.htm Edgar Link pending
R95.xml Edgar Link unprocessable
R96.htm Edgar Link pending
R96.xml Edgar Link unprocessable
R97.htm Edgar Link pending
R97.xml Edgar Link unprocessable
R98.htm Edgar Link pending
R98.xml Edgar Link unprocessable
R99.htm Edgar Link pending
R99.xml Edgar Link unprocessable
report.css Edgar Link pending
rwt-20130630.xml Edgar Link completed
rwt-20130630.xsd Edgar Link pending
rwt-20130630_cal.xml Edgar Link unprocessable
rwt-20130630_def.xml Edgar Link unprocessable
rwt-20130630_lab.xml Edgar Link unprocessable
rwt-20130630_pre.xml Edgar Link unprocessable
Show.js Edgar Link pending