Starwood Property Trust Commercial and Residential Lending Segment — VIE liabilities increased by 8.0% to $11.99B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 6.8%, from $11.23B to $11.99B. Over 4 years (FY 2021 to FY 2025), Commercial and Residential Lending Segment — VIE liabilities shows an upward trend with a 6.0% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
An increase indicates higher structural leverage through off-balance-sheet-style vehicles that have been brought onto the balance sheet.
The total nominal or carrying amount of liabilities related to Variable Interest Entities (VIEs) consolidated by the len...
Comparable to 'Consolidated VIE Debt' reported by other mortgage REITs.
stwd_segment_commercial_and_residential_lending_segment_vie_liabilities| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $7.82B | $9.49B | $11.38B | $11.39B | $13.12B | $13.54B | $13.84B | $14.13B | $13.83B | $12.96B | $13.20B | $11.61B | $11.43B | $11.07B | $10.13B | $11.23B | $11.69B | $11.67B | $11.10B | $11.99B |
| QoQ Change | — | +21.3% | +19.9% | +0.1% | +15.1% | +3.2% | +2.2% | +2.1% | -2.1% | -6.3% | +1.9% | -12.1% | -1.5% | -3.2% | -8.5% | +10.8% | +4.2% | -0.2% | -4.9% | +8.0% |
| YoY Change | — | — | — | — | +67.7% | +42.7% | +21.6% | +24.0% | +5.5% | -4.3% | -4.6% | -17.9% | -17.4% | -14.6% | -23.3% | -3.3% | +2.3% | +5.4% | +9.5% | +6.8% |