Company: RWT-PA
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000930236-25-000007
Chunk: 121

Company: REDWOOD TRUST INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 16
Chunk 121
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Accrued Expenses and Other LiabilitiesAccrued expenses and other liabilities at December 31, 2024 and 2023 are summarized in the following table.Table 14.5 – Components of Accrued Expenses and Other Liabilities(In Thousands)December 31, 2024December 31, 2023Payable to non-controlling interests$123,258 $81,177 Margin payable20,340 350 Accrued interest payable70,988 52,755 Accrued compensation34,002 28,140 Operating lease liabilities11,028 14,725 Accrued operating expenses11,074 5,527 Current accounts payable6,803 4,992 Unsettled trades5,127 — Guarantee obligations2,806 5,781 Repurchase reserve4,727 4,700 Bridge loan holdbacks (1)2,148 2,059 Preferred stock dividends payable1,478 1,478 Other19,958 15,119 Total Accrued Expenses and Other Liabilities$313,737 $216,803 (1)Bridge loan holdbacks represent amounts withheld from the initial loan proceeds and are subsequently disbursed to the borrower to be used in the construction, rehabilitation or purchase of the mortgaged property or to fund interest on the bridge loan.Investment ReceivableInvestment receivable primarily consists of amounts receivable from third-party servicers related to principal and interest receivable from residential investor loans and fees receivable from servicer advance investments.Margin Receivable and PayableMargin receivable and payable resulted from margin calls between us and our counterparties under derivatives, master repurchase agreements, and warehouse facilities, whereby we or the counterparty posted collateral. Through December 31, 2024, we had met all margin calls due.Operating Lease Right-of-Use Assets and Operating Lease LiabilitiesOperating lease liabilities are equal to the present value of our remaining lease payments discounted at our incremental borrowing rate and the operating lease right-of-use assets are equal to the operating lease liabilities adjusted for our deferred rent liabilities. These balances are reduced as lease payments are made. See Note 18 for additional information on leases. Legal and Repurchase ReservesSee Note 18 for additional information on repurchase reserves and loss contingencies regarding litigation, claims and demands.Payable to Non-Controlling InterestsRedwood and a third-party co-investor, through two partnership