REDWOOD TRUST INC
For the period ended Dec 31, 2024. Filed Mar 3, 2025.
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FY2024 · Filed Mar 3, 2025
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Consolidated Balance Sheets at December 31, 2024 and 2023
| (In Thousands, except Share Data) | December 31, 2024 | December 31, 2023 |
|---|---|---|
| ASSETS (1) | ||
| Residential consumer loans, held-for-sale, at fair value | $1,013,547 | $911,192 |
| Residential consumer loans, held-for-investment, at fair value | 10,064,276 | 6,139,445 |
| Residential investor loans, held-for-sale, at fair value | 237,224 | 180,250 |
| Residential investor loans, held-for-investment, at fair value | 4,349,866 | 5,040,048 |
| Consolidated Agency multifamily loans, at fair value | 424,597 | 425,285 |
| Real estate securities, at fair value | 405,223 | 127,797 |
| Home equity investments, at fair value | 589,785 | 550,436 |
| Other investments | 375,806 | 343,930 |
| Cash and cash equivalents | 245,165 | 293,104 |
| Restricted cash | 67,762 | 75,684 |
| Derivative assets | 46,003 | 14,212 |
| Goodwill | 23,373 | 23,373 |
| Other assets | 415,717 | 379,571 |
| Total Assets | $18,258,344 | $14,504,327 |
| LIABILITIES AND EQUITY (1) | ||
| Liabilities | ||
| Asset-backed securities issued (includes $12,879,530 and $9,151,263 at fair value), net | $13,270,204 | $9,811,880 |
| Debt Obligations, net | 3,462,880 | 3,239,123 |
| Derivative liabilities | 23,660 | 33,828 |
| Accrued expenses and other liabilities | 313,737 | 216,803 |
| Total Liabilities | 17,070,481 | 13,301,634 |
| Commitments and Contingencies (see Note 18) | ||
| Equity | ||
| Preferred stock, par value $0.01 per share, 2,990,000 shares authorized; 2,800,000 issued and outstanding | 66,948 | 66,948 |
| Common stock, par value $0.01 per share, 392,010,000 shares authorized; 132,519,579 and 131,485,661 issued and outstanding | 1,325 | 1,315 |
| Additional paid-in capital | 2,504,029 | 2,487,848 |
| Accumulated other comprehensive loss | (43,071) | (57,957) |
| Cumulative earnings | 1,191,401 | 1,144,412 |
| Cumulative distributions to stockholders | (2,532,769) | (2,439,873) |
| Total Equity | 1,187,863 | 1,202,693 |
| Total Liabilities and Equity | $18,258,344 | $14,504,327 |
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(1)Our consolidated balance sheets include assets of VIEs that can only be used to settle obligations of these VIEs and liabilities of consolidated VIEs for which creditors do not have recourse to Redwood Trust, Inc. or its affiliates. At December 31, 2024 and 2023, assets of consolidated VIEs totaled $14,654,942 and $10,988,885, respectively. At December 31, 2024 and 2023, liabilities of consolidated VIEs totaled $13,620,239 and $10,096,308, respectively. See Note 15 for further discussion.
F- 6
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