Company: RWT-PA
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000930236-25-000007
Chunk: 118

Company: REDWOOD TRUST INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 16
Chunk 118
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 cases, we have pledged excess cash collateral or financial assets to a counterparty (which, in certain circumstances, may be a clearinghouse) that exceed the financial liabilities subject to a master netting arrangement or similar agreement. Additionally, in certain cases, counterparties may have pledged excess cash collateral to us that exceeds our corresponding financial assets. In each case, these excess amounts are excluded from the table; they are separately reported in our consolidated balance sheets as assets or liabilities, respectively.

(2)Interest rate agreements, TBAs and futures are components of derivative instruments on our consolidated balance sheets. Loan warehouse debt, which is secured by certain Residential consumer and Residential investor loans, is a component of Debt obligations on our consolidated balance sheets. 

F- 54

REDWOOD TRUST, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS December 31, 2024

Note 14. Other Assets and Liabilities

Other AssetsOther assets at December 31, 2024 and 2023 are summarized in the following table.Table 14.1 – Components of Other Assets(In Thousands)December 31, 2024December 31, 2023Accrued interest receivable$115,832 $69,072 Real estate owned91,927 93,599 Investment receivable69,793 67,302 Deferred tax asset27,145 40,115 Margin receivable28,313 33,414 Intangible assets19,049 28,462 Operating lease right-of-use assets9,167 12,532 Fixed assets and leasehold improvements (1)4,674 7,829 Other49,817 27,246 Total Other Assets$415,717 $379,571 (1)Fixed assets and leasehold improvements had a basis of $17 million and accumulated depreciation of $12 million and $10 million at December 31, 2024 and 2023, respectively.Real Estate Owned ("REO")The Company holds REO at the lower of the current carrying amount or fair value less estimated selling costs. The following table summarizes the activity and carrying values of REO assets held at Redwood and at consolidated Sequoia, Freddie Mac SLST, and CAFL entities during the years ended December 31, 2024 and 2023. Table 14.2 – REO ActivityYear Ended December 31, 2024(In Thousands)Bridge (1)Se