XML 113 R101.htm IDEA: XBRL DOCUMENT v3.25.2
Asset-Backed Securities Issued - Schedule of Asset-Backed Securities Issued (Details)
$ in Thousands
1 Months Ended 6 Months Ended 12 Months Ended
May 31, 2040
Nov. 30, 2031
Jun. 30, 2025
USD ($)
series
loan
Dec. 31, 2024
USD ($)
loan
series
Debt Instrument [Line Items]        
Carrying Value [1]     $ 15,985,206 $ 13,270,204
VIEs        
Debt Instrument [Line Items]        
Number of entities | loan     2 1
VIEs | Collateralized Financing Entities        
Debt Instrument [Line Items]        
Carrying Value     $ 15,985,206 $ 13,270,204
Total ABS Issued | Debt Instrument, Redemption, Period One | CoreVest        
Debt Instrument [Line Items]        
Securitized asset backed securities, borrowing capacity     $ 300,000  
Re-investment transaction period     24 months  
Total ABS Issued | VIEs | Forecast | Debt Instrument, Redemption, Period One        
Debt Instrument [Line Items]        
Increase in interest rate (as a percent) 1.00% 1.50%    
Total ABS Issued | VIEs | Collateralized Financing Entities        
Debt Instrument [Line Items]        
Unpaid Principal Balance     $ 16,644,953 14,047,261
Carrying Value     15,985,206 13,270,204
ABS Issued at Fair Value | VIEs | Collateralized Financing Entities        
Debt Instrument [Line Items]        
Unpaid Principal Balance     16,372,588 13,654,309
Carrying Value     15,714,392 12,879,530
Sequoia | VIEs | Collateralized Financing Entities        
Debt Instrument [Line Items]        
Unpaid Principal Balance     11,933,011 9,220,157
Carrying Value     $ 11,360,847 $ 8,585,077
Number of Series | series     63 54
Sequoia | Minimum | VIEs | Collateralized Financing Entities        
Debt Instrument [Line Items]        
Weighted Average Interest Rate     2.52% 2.66%
Sequoia | Maximum | VIEs | Collateralized Financing Entities        
Debt Instrument [Line Items]        
Weighted Average Interest Rate     8.54% 8.52%
CAFL | VIEs | Collateralized Financing Entities        
Debt Instrument [Line Items]        
Unpaid Principal Balance     $ 2,800,872 $ 2,752,657
Carrying Value     $ 2,750,196 $ 2,687,977
Number of Series | series     20 19
CAFL | Minimum | VIEs | Collateralized Financing Entities        
Debt Instrument [Line Items]        
Weighted Average Interest Rate     2.97% 2.76%
CAFL | Maximum | VIEs | Collateralized Financing Entities        
Debt Instrument [Line Items]        
Weighted Average Interest Rate     7.89% 7.89%
Freddie Mac SLST | VIEs | Collateralized Financing Entities        
Debt Instrument [Line Items]        
Unpaid Principal Balance     $ 1,043,996 $ 1,075,249
Carrying Value     $ 1,010,279 $ 1,005,945
Weighted Average Interest Rate     3.50% 3.50%
Number of Series | series     2 2
Freddie Mac K-Series | VIEs | Collateralized Financing Entities        
Debt Instrument [Line Items]        
Unpaid Principal Balance     $ 389,250 $ 393,762
Carrying Value     $ 387,120 $ 389,434
Weighted Average Interest Rate     3.41% 3.41%
Number of Series | series     1 1
HEI | VIEs | Collateralized Financing Entities        
Debt Instrument [Line Items]        
Unpaid Principal Balance     $ 205,459 $ 212,484
Carrying Value     $ 205,950 $ 211,097
Number of Series | series     2 2
HEI | Minimum | VIEs | Collateralized Financing Entities        
Debt Instrument [Line Items]        
Weighted Average Interest Rate     3.97% 3.96%
HEI | Maximum | VIEs | Collateralized Financing Entities        
Debt Instrument [Line Items]        
Weighted Average Interest Rate     6.72% 6.71%
ABS Issued at Amortized Cost | VIEs | Collateralized Financing Entities        
Debt Instrument [Line Items]        
Unpaid Principal Balance     $ 272,365 $ 392,952
Carrying Value     270,814 390,674
CAFL | VIEs | Collateralized Financing Entities        
Debt Instrument [Line Items]        
Unpaid Principal Balance     139,543 244,772
Carrying Value     $ 139,543 $ 244,772
Number of Series | series     2 2
CAFL | Minimum | VIEs | Collateralized Financing Entities        
Debt Instrument [Line Items]        
Weighted Average Interest Rate     4.31% 2.31%
CAFL | Maximum | VIEs | Collateralized Financing Entities        
Debt Instrument [Line Items]        
Weighted Average Interest Rate     6.46% 4.38%
Freddie Mac SLST | VIEs | Collateralized Financing Entities        
Debt Instrument [Line Items]        
Unpaid Principal Balance     $ 132,822 $ 148,180
Carrying Value     $ 131,271 $ 145,902
Weighted Average Interest Rate     7.50% 7.50%
Number of Series | series     1 1
[1] Our consolidated balance sheets include assets of consolidated variable interest entities (“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 June 30, 2025 and December 31, 2024, assets of consolidated VIEs totaled $17,484,443 and $14,654,942, respectively. At June 30, 2025 and December 31, 2024, liabilities of consolidated VIEs totaled $16,386,516 and $13,620,239, respectively. See Note 16 for further discussion.