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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Revenue    
Interest income $ 7,055 $ 6,977
Interest expense    
Line of credit (379) (84)
Mortgages payable (85) (59)
Total interest expense (464) (143)
Net interest income 6,591 6,834
Late fees 57 83
Gain on sale, loans 0 26
Total revenue, net 6,648 6,943
Provision for (recovery of) loan losses 5 (134)
Operations expense    
Mortgage servicing fees 1,089 1,213
Asset management fees 290 346
Costs from Redwood Mortgage Corp. 695 876
Professional services 1,083 1,139
REO, net (Note 5) 514 31
Other 43 24
Total operations expense 3,714 3,629
Net income 2,929 3,448
Limited partners (99%) 2,900 3,414
General partners (1%) $ 29 $ 34