2014 Q4 Form 10-Q Financial Statement

#000119312514403401 Filed on November 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $65.25M $63.35M $57.42M
YoY Change 13.5% 10.33% -3.86%
Cost Of Revenue $23.90M $23.40M $21.70M
YoY Change 23.83% 7.83% -23.32%
Gross Profit $41.30M $40.00M $35.70M
YoY Change 8.12% 12.04% 13.69%
Gross Profit Margin 63.29% 63.14% 62.17%
Selling, General & Admin $23.20M $18.10M $19.50M
YoY Change 48.72% -7.18% 20.37%
% of Gross Profit 56.17% 45.25% 54.62%
Research & Development $3.463M $2.780M
YoY Change 24.57% 126.94%
% of Gross Profit 8.66% 7.79%
Depreciation & Amortization $100.0K $200.0K $100.0K
YoY Change 0.0% 100.0% 0.0%
% of Gross Profit 0.24% 0.5% 0.28%
Operating Expenses $26.46M $21.41M -$22.32M
YoY Change -234.53% -195.91% -230.51%
Operating Profit $14.84M $18.59M $58.02M
YoY Change -74.36% -67.95% 305.79%
Interest Expense $23.90M $23.35M $21.73M
YoY Change 22.4% 7.48% -23.19%
% of Operating Profit 161.09% 125.58% 37.44%
Other Income/Expense, Net
YoY Change
Pretax Income $24.20M $50.31M $16.99M
YoY Change -10.37% 196.05% -57.74%
Income Tax -$3.000M $5.213M -$4.935M
% Of Pretax Income -12.4% 10.36% -29.04%
Net Earnings $27.12M $45.10M $21.93M
YoY Change 7.91% 105.65% -44.76%
Net Earnings / Revenue 41.57% 71.19% 38.19%
Basic Earnings Per Share $0.32 $0.53 $0.26
Diluted Earnings Per Share $0.31 $0.50 $0.25
COMMON SHARES
Basic Shares Outstanding 83.28M shares 83.02M shares 82.20M shares
Diluted Shares Outstanding 96.96M shares 84.42M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.649B $1.545B $1.529B
YoY Change -11.16% 1.0% 13.14%
Cash & Equivalents $269.7M $149.6M $204.6M
Short-Term Investments $1.379B $1.395B $1.325B
Other Short-Term Assets $3.000M $2.000M $2.000M
YoY Change 50.0% 0.0% 0.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $338.0M $208.0M $255.0M
YoY Change 64.08% -18.43% 454.35%
LONG-TERM ASSETS
Property, Plant & Equipment $3.008M $2.273M $1.065M
YoY Change 144.16% 113.43% 106.8%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.519B $1.530B $1.385B
YoY Change -13.1% 10.47% -14.14%
Other Assets $17.00M $22.00M $15.00M
YoY Change 21.43% 46.67% -69.39%
Total Long-Term Assets $5.581B $5.404B $4.405B
YoY Change 26.77% 22.69% -16.12%
TOTAL ASSETS
Total Short-Term Assets $338.0M $208.0M $255.0M
Total Long-Term Assets $5.581B $5.404B $4.405B
Total Assets $5.919B $5.612B $4.660B
YoY Change 28.44% 20.44% -12.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.112M
YoY Change
Accrued Expenses $33.00M $29.00M $48.00M
YoY Change -40.0% -39.58% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $1.794B $1.888B $838.3M
YoY Change 107.92% 125.18% 60.53%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.827B $1.921B $886.0M
YoY Change 99.02% 116.82% 55.44%
LONG-TERM LIABILITIES
Long-Term Debt $2.740B $2.353B $2.533B
YoY Change 13.27% -7.11% -29.03%
Other Long-Term Liabilities $86.00M $64.00M $33.00M
YoY Change 377.78% 93.94% -69.72%
Total Long-Term Liabilities $2.826B $2.417B $2.566B
YoY Change 15.96% -5.81% -30.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.827B $1.921B $886.0M
Total Long-Term Liabilities $2.826B $2.417B $2.566B
Total Liabilities $4.663B $4.345B $3.452B
YoY Change 38.66% 25.86% -18.71%
SHAREHOLDERS EQUITY
Retained Earnings $906.9M $879.7M $781.2M
YoY Change 12.47% 12.62% 32.18%
Common Stock $1.775B $1.769B $1.759B
YoY Change 0.75% 0.62% 1.03%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.266B $1.267B $1.207B
YoY Change
Total Liabilities & Shareholders Equity $5.919B $5.612B $4.660B
YoY Change 28.44% 20.44% -12.03%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $27.12M $45.10M $21.93M
YoY Change 7.91% 105.65% -44.76%
Depreciation, Depletion And Amortization $100.0K $200.0K $100.0K
YoY Change 0.0% 100.0% 0.0%
Cash From Operating Activities -$257.8M -$747.1M $547.0M
YoY Change -197.8% -236.58% -374.87%
INVESTING ACTIVITIES
Capital Expenditures -$4.300M -$38.70M -$3.100M
YoY Change 1148.39%
Acquisitions
YoY Change
Other Investing Activities $115.6M $593.0M $205.1M
YoY Change -162.69% 189.13% -22.72%
Cash From Investing Activities $111.3M $554.2M $202.0M
YoY Change -160.36% 174.36% -23.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 266.7M 185.4M -752.0M
YoY Change -340.92% -124.65% 679.27%
NET CHANGE
Cash From Operating Activities -257.8M -747.1M 547.0M
Cash From Investing Activities 111.3M 554.2M 202.0M
Cash From Financing Activities 266.7M 185.4M -752.0M
Net Change In Cash 120.2M -7.500M -3.000M
YoY Change -481.59% 150.0% -90.03%
FREE CASH FLOW
Cash From Operating Activities -$257.8M -$747.1M $547.0M
Capital Expenditures -$4.300M -$38.70M -$3.100M
Free Cash Flow -$253.5M -$708.4M $550.1M
YoY Change -196.17% -228.78% -376.43%

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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Note 1. Redwood Trust</b></p> <!-- xbrl,body --> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px" align="justify">Redwood Trust, Inc., together with its subsidiaries, focuses on investing in mortgage- and other real estate-related assets and engaging in residential and commercial mortgage banking activities. We seek to invest in real estate-related assets that have the potential to generate attractive cash flow returns over time and to generate income through our residential and commercial mortgage banking activities.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px" align="justify">Our primary sources of income are net interest income from our investment portfolios and noninterest income from our mortgage banking activities. Net interest income 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 consists of the profit we seek to generate through the acquisition or origination of loans and their subsequent sale or securitization. References herein to &#x201C;Redwood,&#x201D; the &#x201C;company,&#x201D; &#x201C;we,&#x201D; &#x201C;us,&#x201D; and &#x201C;our&#x201D; include Redwood Trust, Inc. and its consolidated subsidiaries, unless the context otherwise requires.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px" align="justify">We operate our business in three segments: residential mortgage banking, residential investments, and commercial mortgage banking and investments.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px" align="justify">Our residential mortgage banking segment primarily consists of operating a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale through securitization or as whole loans. Jumbo loans we acquire are typically sold through private-label securitization through our Sequoia securitization program or to institutions that acquire pools of whole loans. Conforming loans we acquire are generally sold to Fannie Mae and Freddie Mac (the &#x201C;Agencies&#x201D;). Our residential loan acquisitions are usually made on a flow basis, after origination by banks or mortgage companies, and are periodically augmented by bulk acquisitions. Our acquisition and accumulation of residential loans is generally funded with equity and short-term debt. This segment also includes various derivative financial instruments and IO securities retained from our Sequoia securitizations that we utilize to manage certain risks associated with residential loans we acquire. Our residential mortgage banking segment&#x2019;s main source of revenue is mortgage banking income, which includes valuation increases (or gains) on the loans we acquire for sale or securitization as well as valuation changes in associated derivatives and IO securities that are used in part to manage risks associated with our mortgage banking activities. Additionally, this segment may generate interest income on loans held for future sale or securitization and interest income from IO securities. Interest expense on short-term debt used to fund the purchase of residential loans, direct operating expenses and tax provisions associated with these activities are also included in the residential mortgage banking segment.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px" align="justify">Our residential investments segment includes a portfolio of investments in residential mortgage-backed securities retained from our Sequoia securitizations, as well as residential mortgage-backed securities issued by third parties. This segment also includes mortgage servicing rights (&#x201C;MSRs&#x201D;) associated with residential loans securitized through our Sequoia program or sold to third parties and MSRs purchased from third parties as well as residential loans acquired and held-for-investment. The residential investment segment&#x2019;s main sources of revenue are interest income from investment portfolio securities and residential loans held-for-investment, as well as the realized gains recognized upon sales of these securities and income from MSRs. This segment also includes derivative financial instruments that we utilize to manage certain risks associated with our residential investment portfolio. Also included in this segment is interest expense on the short-term debt and asset-backed securities (&#x201C;ABS&#x201D;) used to partially finance certain of these securities, as well as direct operating expenses and tax provisions associated with these activities.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px" align="justify">Our commercial mortgage banking and investments segment consists of our commercial mortgage banking operations as well as our portfolio of held-for-investment commercial real estate loans. We operate as a commercial real estate lender by originating mortgage loans and providing other forms of commercial real estate financing. This may include senior or subordinate mortgage loans, mezzanine loans, and other forms of financing, such as preferred equity interests in special purpose entities that own commercial real estate. We typically sell the senior loans we originate to third parties for securitization and the mezzanine and subordinate loans we originate are generally held for investment. This segment also includes derivative financial instruments that we utilize to manage certain risks associated with our commercial loan origination activity. Our commercial mortgage banking and investments segment&#x2019;s main sources of revenue are interest income from our commercial loan investments as well as income from mortgage banking activities, which includes valuation increases (or gains) on the senior commercial loans we originate for sale as well as valuation changes in associated derivatives that are used to manage risks associated with our mortgage banking activities. Interest expense from a commercial securitization we engaged in during 2012 (&#x201C;Commercial Securitization&#x201D;) and from short-term and long-term debt used to fund the purchase of commercial loans as well as operating expenses and tax provisions associated with these activities are also included in the commercial mortgage banking and investments segment.</p> <p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 1px 'Times New Roman'; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> &#xA0;</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px" 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>
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 16pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%" 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, 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 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>
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.010 pure
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 Segment
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
85031130 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.87
us-gaap Effective Income Tax Rate Reconciliation Deductions Dividends
EffectiveIncomeTaxRateReconciliationDeductionsDividends
-0.254 pure
dei Entity Central Index Key
EntityCentralIndexKey
0000930236
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.84
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.340 pure
us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
-0.100 pure
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
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 Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2018-04-15
us-gaap Debt Instrument Convertible Conversion Ratio1
DebtInstrumentConvertibleConversionRatio1
41.1320 pure
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82722079 shares
us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
4753000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
286248000
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
4643308000
us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
5000000
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
113889000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
113260000
us-gaap Interest And Fee Income Loans Consumer Real Estate
InterestAndFeeIncomeLoansConsumerRealEstate
45539000
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
57000
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings
6434000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
26248000
us-gaap Stock Issued During Period Value Employee Stock Ownership Plan
StockIssuedDuringPeriodValueEmployeeStockOwnershipPlan
-7268000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
685000
us-gaap Payments To Acquire Loans And Leases Held For Investment
PaymentsToAcquireLoansAndLeasesHeldForInvestment
65584000
us-gaap Payments Of Dividends
PaymentsOfDividends
71278000
us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Securities Sold
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsReductionsSecuritiesSold
922000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
11005000
us-gaap Noninterest Income
NoninterestIncome
25321000
us-gaap Interest Income Deposits With Financial Institutions
InterestIncomeDepositsWithFinancialInstitutions
15000
us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
9955000
us-gaap Payments To Acquire Mortgage Servicing Rights Msr
PaymentsToAcquireMortgageServicingRightsMSR
41834000
us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
278913000
us-gaap Payments To Purchase Loans Held For Sale
PaymentsToPurchaseLoansHeldForSale
6844403000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
35078000
us-gaap Interest Income Securities Mortgage Backed
InterestIncomeSecuritiesMortgageBacked
97062000
us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
34204000
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Sales
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationSales
us-gaap Income Taxes Paid
IncomeTaxesPaid
1399000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
77150000
us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
12287000
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-17454000
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
176820000
us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
10687000
us-gaap Shortterm Debt Average Outstanding Amount
ShorttermDebtAverageOutstandingAmount
1400000000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
132393000
us-gaap Net Income Loss
NetIncomeLoss
73447000
us-gaap Interest Paid
InterestPaid
57047000
us-gaap Increase Decrease In Operating Assets
IncreaseDecreaseInOperatingAssets
57806000
us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
-14419000
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationSettlements
-5204000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
8934000
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
10687000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
7635000
us-gaap Payments For Proceeds From Derivative Instrument Financing Activities
PaymentsForProceedsFromDerivativeInstrumentFinancingActivities
2507000
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1600000
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Other Comprehensive Income Loss
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInOtherComprehensiveIncomeLoss
us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
11247000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
84452000
us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
11219000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7415000
us-gaap Interest Expense
InterestExpense
63560000
us-gaap Operating Expenses
OperatingExpenses
63660000
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
-629000
us-gaap Professional Fees
ProfessionalFees
4039000
us-gaap Servicing Asset At Fair Value Additions
ServicingAssetAtFairValueAdditions
30962000
us-gaap Labor And Related Expense
LaborAndRelatedExpense
36920000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
25946000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-23584000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1496000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3703000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
629286000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
2000000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-131000
us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Before Tax Including Portion Attributable To Noncontrolling Interest
OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxIncludingPortionAttributableToNoncontrollingInterest
4209000
us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions No Previous Impairment
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsAdditionsNoPreviousImpairment
261000
us-gaap Proceeds From Collection Of Loans Held For Sale
ProceedsFromCollectionOfLoansHeldForSale
19648000
us-gaap Real Estate Acquisitions Through Foreclosures
RealEstateAcquisitionsThroughForeclosures
5000000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
369000
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Purchases
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationPurchases
us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
-266000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3840000
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
5615317000
us-gaap Impairment Of Investments
ImpairmentOfInvestments
4774000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
880433000
us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions Additional Credit Losses
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsAdditionsAdditionalCreditLosses
70000
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
21689000
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
17409000
us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
565000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
457131000
us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
2713000
us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
10906000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3437000
us-gaap Interest Expense Beneficial Interests Issued By Consolidated Variable Interest Entities
InterestExpenseBeneficialInterestsIssuedByConsolidatedVariableInterestEntities
24462000
us-gaap Other General Expense
OtherGeneralExpense
1679000
us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
5328901000
us-gaap Severance Costs1
SeveranceCosts1
226000
us-gaap Share Based Compensation
ShareBasedCompensation
8934000
us-gaap Dividends Common Stock
DividendsCommonStock
71278000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
6750000
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
6679000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
272937000
us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment
267425000
rwt Debt Instrument Average Maturity Term
DebtInstrumentAverageMaturityTerm
P154D
rwt Other Market Valuation Adjustments
OtherMarketValuationAdjustments
-13966000
rwt Market Valuation Adjustments Net
MarketValuationAdjustmentsNet
1787000
rwt Share Based Compensation Arrangement By Share Based Payment Award Award Holding Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardHoldingPeriod
P3Y
rwt Number Of Variable Interest Entities Acquired And Consolidated
NumberOfVariableInterestEntitiesAcquiredAndConsolidated
26 Entity
rwt Proceeds From Principal Repayments On Securities
ProceedsFromPrincipalRepaymentsOnSecurities
144598000
rwt Employee Stock Purchase Plan Minimum Percentage Of Common Stock Fair Value Defined To Purchase Shares By Eligible Participants
EmployeeStockPurchasePlanMinimumPercentageOfCommonStockFairValueDefinedToPurchaseSharesByEligibleParticipants
0.85 pure
rwt Loan Transferred As Secured Borrowings Cash Proceeds
LoanTransferredAsSecuredBorrowingsCashProceeds
65048000
rwt Loan Purchase Sale Commitment Valuations
LoanPurchaseSaleCommitmentValuations
6077000
rwt Employee Stock Purchase Plan Number Of Shares Purchased By Employee
EmployeeStockPurchasePlanNumberOfSharesPurchasedByEmployee
266463 shares
rwt Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost Forfeitures
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCostForfeitures
363000
rwt Stock Issued During Period Value Dividend Reinvestment And Stock Purchase Plan
StockIssuedDuringPeriodValueDividendReinvestmentAndStockPurchasePlan
6055000
rwt Number Of Facilities
NumberOfFacilities
17 Contract
rwt Loan Transferred As Secured Borrowings Principal Balance
LoanTransferredAsSecuredBorrowingsPrincipalBalance
63375000
rwt Mortgage Banking Activities Net
MortgageBankingActivitiesNet
23950000
rwt Fixed Compensation Expense
FixedCompensationExpense
21109000
rwt Variable Compensation Expense
VariableCompensationExpense
8170000
rwt Mortgage Servicing Expense
MortgageServicingExpense
1040000
rwt Provision Reversal For Loan Lease And Other Losses
ProvisionReversalForLoanLeaseAndOtherLosses
-629000
rwt Provision For Mortgage Servicing Rights Repurchases
ProvisionForMortgageServicingRightsRepurchases
653000
rwt Mortgage Banking Activities Derivative Instruments Net
MortgageBankingActivitiesDerivativeInstrumentsNet
-18159000
rwt Other Market Valuation Adjustments Net
OtherMarketValuationAdjustmentsNet
-13966000
rwt Total Net Change In Market Value Related To Mortgage Servicing Rights
TotalNetChangeInMarketValueRelatedToMortgageServicingRights
-5944000
rwt Payments For Proceeds From Derivative Instrument Operating Activities
PaymentsForProceedsFromDerivativeInstrumentOperatingActivities
-22776000
rwt Other Than Temporary Impairment Credit Losses Recognized In Earnings Matured Called Written Down
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsMaturedCalledWrittenDown
2320000
rwt Mortgage Banking Activities Market Valuation Adjustments Net
MortgageBankingActivitiesMarketValuationAdjustmentsNet
21697000
rwt Mortgage Servicing Rights Income Including Market Valuation Changes Of Ms Rs
MortgageServicingRightsIncomeIncludingMarketValuationChangesOfMSRs
4650000
rwt Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Discount Accretion
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationDiscountAccretion
CY2013 rwt Debt Instrument Average Maturity Term
DebtInstrumentAverageMaturityTerm
P61D
CY2013 rwt Employee Stock Purchase Plan Number Of Shares Purchased By Employee
EmployeeStockPurchasePlanNumberOfSharesPurchasedByEmployee
243020 shares
CY2013 rwt Number Of Facilities
NumberOfFacilities
13 Contract
CY2013Q1 rwt Debt Instrument Maturity Year
DebtInstrumentMaturityYear
2018
CY2013Q1 rwt Debt Instrument Redemption Date
DebtInstrumentRedemptionDate
2018-04-15
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.25
CY2013Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2013Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2220566 shares
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
84422039 shares
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
CY2013Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.28
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82201473 shares
CY2013Q3 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
33968000
CY2013Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
35695000
CY2013Q3 us-gaap Interest And Fee Income Loans Consumer Real Estate
InterestAndFeeIncomeLoansConsumerRealEstate
17027000
CY2013Q3 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Securities Sold
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsReductionsSecuritiesSold
3288000
CY2013Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-3515000
CY2013Q3 us-gaap Noninterest Income
NoninterestIncome
5346000
CY2013Q3 us-gaap Interest Income Deposits With Financial Institutions
InterestIncomeDepositsWithFinancialInstitutions
4000
CY2013Q3 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
10318000
CY2013Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-633000
CY2013Q3 us-gaap Interest Income Securities Mortgage Backed
InterestIncomeSecuritiesMortgageBacked
29649000
CY2013Q3 us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
10740000
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
16994000
CY2013Q3 us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
3008000
CY2013Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
4018000
CY2013Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
57420000
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
21929000
CY2013Q3 us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
-1866000
CY2013Q3 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
10469000
CY2013Q3 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
2653000
CY2013Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
18414000
CY2013Q3 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
10532000
CY2013Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1997000
CY2013Q3 us-gaap Interest Expense
InterestExpense
21725000
CY2013Q3 us-gaap Operating Expenses
OperatingExpenses
22320000
CY2013Q3 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
1727000
CY2013Q3 us-gaap Professional Fees
ProfessionalFees
2066000
CY2013Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
13871000
CY2013Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6205000
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4935000
CY2013Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-62000
CY2013Q3 us-gaap Impairment Of Investments
ImpairmentOfInvestments
0
CY2013Q3 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
6894000
CY2013Q3 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
5227000
CY2013Q3 us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
214000
CY2013Q3 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
2780000
CY2013Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
829000
CY2013Q3 us-gaap Interest Expense Beneficial Interests Issued By Consolidated Variable Interest Entities
InterestExpenseBeneficialInterestsIssuedByConsolidatedVariableInterestEntities
9604000
CY2013Q3 us-gaap Other General Expense
OtherGeneralExpense
508000
CY2013Q3 us-gaap Severance Costs1
SeveranceCosts1
445000
CY2013Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
6962000
CY2013Q3 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
2266000
CY2013Q3 rwt Other Market Valuation Adjustments
OtherMarketValuationAdjustments
462000
CY2013Q3 rwt Market Valuation Adjustments Net
MarketValuationAdjustmentsNet
-8135000
CY2013Q3 rwt Mortgage Banking Activities Derivative Instruments Net
MortgageBankingActivitiesDerivativeInstrumentsNet
442000
CY2013Q3 rwt Other Market Valuation Adjustments Net
OtherMarketValuationAdjustmentsNet
462000
CY2013Q3 rwt Total Net Change In Market Value Related To Mortgage Servicing Rights
TotalNetChangeInMarketValueRelatedToMortgageServicingRights
460000
CY2013Q3 rwt Other Than Temporary Impairment Credit Losses Recognized In Earnings Matured Called Written Down
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsMaturedCalledWrittenDown
764000
CY2013Q3 rwt Mortgage Banking Activities Market Valuation Adjustments Net
MortgageBankingActivitiesMarketValuationAdjustmentsNet
-9057000
CY2013Q3 rwt Mortgage Servicing Rights Income Including Market Valuation Changes Of Ms Rs
MortgageServicingRightsIncomeIncludingMarketValuationChangesOfMSRs
3113000
CY2013Q3 rwt Mortgage Banking Activities Net
MortgageBankingActivitiesNet
-8698000
CY2013Q3 rwt Fixed Compensation Expense
FixedCompensationExpense
5808000
CY2013Q3 rwt Variable Compensation Expense
VariableCompensationExpense
5621000
CY2013Q3 rwt Mortgage Servicing Expense
MortgageServicingExpense
355000
CY2013Q3 rwt Provision Reversal For Loan Lease And Other Losses
ProvisionReversalForLoanLeaseAndOtherLosses
1727000
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.50
CY2014Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
11825450 shares
CY2014Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2113248 shares
CY2014Q3 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.0549 pure
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
96956232 shares
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.53
CY2014Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.28
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
83017534 shares
CY2014Q3 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
41597000
CY2014Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
40001000
CY2014Q3 us-gaap Interest And Fee Income Loans Consumer Real Estate
InterestAndFeeIncomeLoansConsumerRealEstate
19280000
CY2014Q3 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Securities Sold
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsReductionsSecuritiesSold
18000
CY2014Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-7786000
CY2014Q3 us-gaap Noninterest Income
NoninterestIncome
28519000
CY2014Q3 us-gaap Interest Income Deposits With Financial Institutions
InterestIncomeDepositsWithFinancialInstitutions
7000
CY2014Q3 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
7976000
CY2014Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
1849000
CY2014Q3 us-gaap Interest Income Securities Mortgage Backed
InterestIncomeSecuritiesMortgageBacked
31461000
CY2014Q3 us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
12603000
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
50310000
CY2014Q3 us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
4590000
CY2014Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-3258000
CY2014Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
63351000
CY2014Q3 us-gaap Shortterm Debt Average Outstanding Amount
ShorttermDebtAverageOutstandingAmount
1870000000
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
45097000
CY2014Q3 us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
-1332000
CY2014Q3 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
8532000
CY2014Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1600000
CY2014Q3 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
4153000
CY2014Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
37311000
CY2014Q3 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
10227000
CY2014Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2261000
CY2014Q3 us-gaap Interest Expense
InterestExpense
23350000
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
21406000
CY2014Q3 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
-1596000
CY2014Q3 us-gaap Professional Fees
ProfessionalFees
1223000
CY2014Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
12128000
CY2014Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
8607000
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5213000
CY2014Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-32000
CY2014Q3 us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Before Tax Including Portion Attributable To Noncontrolling Interest
OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxIncludingPortionAttributableToNoncontrollingInterest
0
CY2014Q3 us-gaap Impairment Of Investments
ImpairmentOfInvestments
188000
CY2014Q3 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
7071000
CY2014Q3 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
8441000
CY2014Q3 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
188000
CY2014Q3 us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
2713000
CY2014Q3 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
3463000
CY2014Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1282000
CY2014Q3 us-gaap Interest Expense Beneficial Interests Issued By Consolidated Variable Interest Entities
InterestExpenseBeneficialInterestsIssuedByConsolidatedVariableInterestEntities
7838000
CY2014Q3 us-gaap Other General Expense
OtherGeneralExpense
569000
CY2014Q3 us-gaap Severance Costs1
SeveranceCosts1
4000
CY2014Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
6409000
CY2014Q3 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
2741000
CY2014Q3 rwt Other Market Valuation Adjustments
OtherMarketValuationAdjustments
-3706000
CY2014Q3 rwt Market Valuation Adjustments Net
MarketValuationAdjustmentsNet
15117000
CY2014Q3 rwt Loan Transferred As Secured Borrowings Cash Proceeds
LoanTransferredAsSecuredBorrowingsCashProceeds
CY2014Q3 rwt Loan Purchase Sale Commitment Valuations
LoanPurchaseSaleCommitmentValuations
2487000
CY2014Q3 rwt Mortgage Banking Activities Derivative Instruments Net
MortgageBankingActivitiesDerivativeInstrumentsNet
-2404000
CY2014Q3 rwt Other Market Valuation Adjustments Net
OtherMarketValuationAdjustmentsNet
-3706000
CY2014Q3 rwt Total Net Change In Market Value Related To Mortgage Servicing Rights
TotalNetChangeInMarketValueRelatedToMortgageServicingRights
2321000
CY2014Q3 rwt Mortgage Banking Activities Market Valuation Adjustments Net
MortgageBankingActivitiesMarketValuationAdjustmentsNet
16502000
CY2014Q3 rwt Mortgage Servicing Rights Income Including Market Valuation Changes Of Ms Rs
MortgageServicingRightsIncomeIncludingMarketValuationChangesOfMSRs
5821000
CY2014Q3 rwt Loan Transferred As Secured Borrowings Principal Balance
LoanTransferredAsSecuredBorrowingsPrincipalBalance
CY2014Q3 rwt Mortgage Banking Activities Net
MortgageBankingActivitiesNet
17872000
CY2014Q3 rwt Fixed Compensation Expense
FixedCompensationExpense
7445000
CY2014Q3 rwt Variable Compensation Expense
VariableCompensationExpense
2418000
CY2014Q3 rwt Mortgage Servicing Expense
MortgageServicingExpense
437000
CY2014Q3 rwt Provision Reversal For Loan Lease And Other Losses
ProvisionReversalForLoanLeaseAndOtherLosses
-1596000
CY2014Q3 rwt Provision For Mortgage Servicing Rights Repurchases
ProvisionForMortgageServicingRightsRepurchases
653000
CY2014Q3 rwt Risk Sharing Transaction Treasury Shares Transferred
RiskSharingTransactionTreasurySharesTransferred
11000000

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