Company: RWT-PA
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000930236-25-000020
Chunk: 55

Company: REDWOOD TRUST INC
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 55
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Item 1. Financial Statements

REDWOOD TRUST, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In Thousands, except Share Data)(Unaudited)March 31, 2025December 31, 2024ASSETS (1)Residential consumer loans, at fair value$12,752,258 $11,077,823 Residential investor loans, at fair value4,439,834 4,587,090 Consolidated Agency multifamily loans, at fair value423,673 424,597 Home equity investments, at fair value600,386 589,785 Real estate securities, at fair value375,965 405,223 Servicing investments, at fair value298,290 297,683 Strategic investments84,869 78,123 Derivative assets, at fair value158,909 46,003 Cash and cash equivalents259,918 245,165 Restricted cash86,557 67,762 Goodwill23,373 23,373 Other assets367,743 415,717 Total Assets$19,871,775 $18,258,344 LIABILITIES AND EQUITY (1)LiabilitiesAsset-backed securities issued (includes $14,127,674 and $12,879,530 at fair value), net$14,458,243 $13,270,204 Debt obligations, net3,760,685 3,462,880 Derivative liabilities, at fair value12,835 23,660 Accrued expenses and other liabilities456,518 313,737 Total liabilities18,688,281 17,070,481 Commitments and Contingencies (see Note 19)EquityPreferred stock, par value $0.01 per share, 2,990,000 shares authorized; 2,800,000 issued and outstanding66,948 66,948 Common stock, par value $0.01 per share, 392,010,000 shares authorized; 133,005,314 and 132,519,579 issued and outstanding1,330 1,325 Additional paid-in capital2,506,877 2,504,029 Accumulated other comprehensive loss(39,340)(43,071)Cumulative earnings1,205,798 1,191,401 Cumulative distributions to stockholders(2,