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Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Revenue    
Interest income $ 6,943 $ 6,557
Interest expense (456) (304)
Net interest income 6,487 6,253
Late fees 62 27
Gain on sale, loans 0 87
Total revenue, net 6,549 6,367
Provision for (recovery of) loan losses 0 0
Operations expense    
Mortgage servicing fees 201 187
Asset management fees 564 541
Costs from Redwood Mortgage Corp., net (Note 3) 220 146
Professional services 693 612
Other 65 30
Total operations expense 1,743 1,516
Net income 4,806 4,851
Members (99%) 4,757 4,802
Manager (1%) $ 49 $ 49