Redwood Trust RWT Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Net (Loss) Income by Business | ||||||
| Aspire | $2.47M— | —— | —— | —— | -$948K— | |
| CoreVest | -$3.29M-144% | $7.47M+114% | $3.49M-43.1% | $6.14M+353% | $1.36M-11.1% | |
| Legacy Investments | -$12.8M+31.3% | -$18.62M+16.2% | -$22.23M+78.6% | -$103.99M-1,104% | -$8.64M+50.1% | |
| Redwood Investments | -$7.34M-135% | $20.89M+102% | $10.34M-13.1% | $11.89M-38.7% | $19.41M-39.9% | |
| Sequoia | $38.38M-12.4% | $43.82M+27.7% | $34.32M+54.9% | $22.15M-3.1% | $22.86M+4.9% | |
| Noninterest Income, Net by Business | ||||||
| Aspire | $2.68M— | —— | —— | —— | $233K— | |
| CoreVest | $10.38M-36.2% | $16.28M+3.5% | $15.73M-21.2% | $19.96M+42.8% | $13.98M+5.5% | |
| Legacy Investments | -$140K+98.3% | -$8.06M+5.2% | -$8.5M+90.5% | -$89.58M-17,665% | $510K+102% | |
| Redwood Investments | -$5.76M-145% | $12.69M+1,074% | $1.08M+119% | -$5.82M-171% | $8.22M-43.7% | |
| Sequoia | $22.05M-45.4% | $40.38M+40.6% | $28.72M+17.7% | $24.4M+11.3% | $21.92M+30.5% | |
| Net (loss) income (related) available to common stockholders by Business | ||||||
| Aspire | $2.27M— | —— | —— | —— | -$965K— | |
| CoreVest | -$3.38M— | —— | —— | —— | $1.29M— | |
| Legacy Investments | -$13.06M— | —— | —— | —— | -$9.35M— | |
| Redwood Investments | -$8M— | —— | —— | —— | $18.86M— | |
| Sequoia | $37.83M— | —— | —— | —— | $22.45M— | |
| Fee income, net by Business | ||||||
| Aspire | $0— | —— | —— | —— | $0— | |
| CoreVest | $2.83M+63.9% | $1.73M-67.1% | $5.25M+88.6% | $2.78M-9.6% | $3.08M-16.7% | |
| Legacy Investments | -$133K-25.5% | -$106K+88.7% | -$938K+4.8% | -$985K-13.2% | -$870K-203% | |
| Redwood Investments | $192K-3.5% | $199K-26.3% | $270K-34.5% | $412K+190% | $142K-15.5% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Other income, net by Business | ||||||
| Aspire | $370K— | —— | —— | —— | $7K— | |
| CoreVest | $589K-68.6% | $1.87M+302% | -$928K-230% | $715K— | $0— | |
| Legacy Investments | $950K+270% | -$559K-5.1% | -$532K— | $0— | $0— | |
| Redwood Investments | $898K+128% | $394K+0.5% | $392K-0.5% | $394K-22.3% | $507K-48.4% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Realized gains, net by Business | ||||||
| Aspire | $0— | —— | —— | —— | $0— | |
| CoreVest | $0— | $0— | $0— | $0— | $0— | |
| Legacy Investments | $0+100% | -$1.77M— | $0— | $0— | $0— | |
| Redwood Investments | $0— | $0— | $0-100% | $640K+12.9% | $567K+1,318% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Interest Income (Expense), Operating by Business | ||||||
| Aspire | $3.64M— | —— | —— | —— | -$183K— | |
| CoreVest | $2.11M-31.1% | $3.06M+104% | $1.5M-18.3% | $1.83M+32.6% | $1.38M+21.0% | |
| Legacy Investments | -$8.71M-4.1% | -$8.36M+7.6% | -$9.05M+4.2% | -$9.45M-101% | -$4.7M-138% | |
| Redwood Investments | $12.44M-38.1% | $20.09M+14.2% | $17.58M-20.4% | $22.1M+33.7% | $16.52M-33.0% | |
| Sequoia | $24.97M-8.6% | $27.31M+28.6% | $21.23M+36.8% | $15.52M+6.1% | $14.62M-14.1% | |
| Total Assets by Business | ||||||
| Aspire | $891.54M— | —— | —— | —— | $15.68M— | |
| CoreVest | $329.33M-8.0% | $357.99M-9.1% | $393.79M+30.5% | $301.74M-12.3% | $343.99M+8.3% | |
| Legacy Investments | $945.02M+0.3% | $942.47M-59.1% | $2.31B-22.0% | $2.95B-4.3% | $3.09B-0.5% | |
| Redwood Investments | $21.9B+16.9% | $18.74B+10.9% | $16.91B+5.8% | $15.98B+10.1% | $14.51B+9.3% | |
| Sequoia | $2.57B-22.5% | $3.32B+24.9% | $2.66B+57.4% | $1.69B+9.4% | $1.54B+25.3% | |
| Income Tax Expense (Benefit) by Business | ||||||
| Aspire | $342K— | —— | —— | —— | $70K— | |
| CoreVest | -$2.06M+8.8% | -$2.26M-4,608% | -$48K+82.7% | -$278K+57.1% | -$648K+57.2% | |
| Legacy Investments | -$610K— | —— | $571K+123% | -$2.54M— | $0— | |
| Redwood Investments | $1.37M— | —— | $30K+102% | -$1.57M-415% | -$304K-114% | |
| Sequoia | -$1.25M-115% | $8.4M+53.8% | $5.46M-41.2% | $9.29M+29.2% | $7.19M+20.3% | |
| Servicing income, net by Business | ||||||
| Aspire | $0— | —— | —— | —— | $0— | |
| CoreVest | $0— | $0— | $0— | $0— | $0— | |
| Legacy Investments | $0— | $0— | $0— | $0— | $0— | |
| Redwood Investments | $8.02M+125% | $3.56M+152% | $1.42M-11.9% | $1.61M-52.8% | $3.41M-46.7% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Other (loss) income, net by Business | ||||||
| CoreVest Mortgage Banking | $8.23M— | —— | $7.07M-2.0% | $7.22M+22.7% | $5.89M— | |
| Sequoia Mortgage Banking | $567K— | —— | $655K-28.9% | $921K+984% | $85K— | |
| Mortgage banking activities, net by Business | ||||||
| Aspire | $2.68M— | —— | —— | —— | $233K— | |
| CoreVest | $7.23M-42.0% | $12.46M+9.1% | $11.41M-30.7% | $16.46M+49.6% | $11M+13.0% | |
| Legacy Investments | $0— | $0— | $0— | $0— | $0— | |
| Redwood Investments | $0— | $0— | $0— | $0— | $0— | |
| Sequoia | $22.05M-45.4% | $40.38M+40.6% | $28.72M+17.7% | $24.4M+11.3% | $21.92M+30.5% | |
| Other Expenses by Business | ||||||
| Aspire | $0— | —— | —— | —— | $0— | |
| CoreVest | $2.01M0.0% | $2.01M0.0% | $2.01M-8.7% | $2.2M0.0% | $2.2M0.0% | |
| Legacy Investments | $0— | $0-100% | $500K— | $0— | $0— | |
| Redwood Investments | $5.12M-17.9% | $6.23M+96.5% | $3.17M+73.0% | $1.83M+7.3% | $1.71M+52.5% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| General and Administrative Expense by Business | ||||||
| Aspire | $2.47M— | —— | —— | —— | $928K— | |
| CoreVest | $12.99M+37.4% | $9.46M-5.2% | $9.97M-2.4% | $10.22M+2.6% | $9.96M+3.7% | |
| Legacy Investments | $16K0.0% | $16K-30.4% | $23K-59.6% | $57K+256% | $16K+6.7% | |
| Redwood Investments | $3.38M+216% | $1.07M-33.0% | $1.6M+4.6% | $1.53M-18.3% | $1.87M+14.7% | |
| Sequoia | $7.05M-44.5% | $12.69M+63.3% | $7.77M+7.9% | $7.21M+33.0% | $5.42M+7.9% | |
| Interest Income by Business | ||||||
| Aspire | $18.41M— | —— | —— | —— | $44K— | |
| CoreVest | $4.19M-33.3% | $6.29M+55.1% | $4.05M+8.4% | $3.74M-15.0% | $4.39M-5.2% | |
| Legacy Investments | $4M-14.1% | $4.66M-78.3% | $21.48M-8.4% | $23.45M-31.3% | $34.15M-4.4% | |
| Redwood Investments | $268.75M+8.1% | $248.58M+10.2% | $225.52M+2.6% | $219.74M+9.0% | $201.57M+6.3% | |
| Sequoia | $61.31M-8.5% | $66.99M+39.9% | $47.89M+29.4% | $37.02M+17.0% | $31.64M-12.4% | |
| Mortgage banking activities, net, excluding risk management derivatives by Business | ||||||
| Aspire | -$1.54M— | —— | —— | —— | $233K— | |
| CoreVest | $6.93M-45.0% | $12.6M+10.6% | $11.4M-25.8% | $15.35M+10.9% | $13.85M+94.2% | |
| Legacy Investments | $0— | $0— | $0— | $0— | $0— | |
| Redwood Investments | $0— | $0— | $0— | $0— | $0— | |
| Sequoia | $57.96M+46.5% | $39.55M+27.0% | $31.15M+238% | -$22.63M-2,101% | $1.13M-98.3% | |
| Investment fair value changes, net by Business | ||||||
| Aspire | $0— | —— | —— | —— | $0— | |
| CoreVest | -$265K— | $0— | $0— | $0— | $0— | |
| Legacy Investments | -$7.49M+7.8% | -$8.13M-20.5% | -$6.74M+91.1% | -$75.57M-766% | -$8.73M+78.7% | |
| Redwood Investments | -$38.26M-138% | $101.35M+5,918% | -$1.74M+93.5% | -$26.96M-203% | $26.29M-1.1% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Risk management derivatives (losses) gains, net by Business | ||||||
| Aspire | $4.23M— | —— | —— | —— | $0— | |
| CoreVest | $301K— | $0-100% | $18K-98.4% | $1.11M+138% | -$2.95M-221% | |
| Legacy Investments | $0— | $0— | $0— | $0— | $0— | |
| Redwood Investments | $0— | $0— | $0— | $0— | $0— | |
| Sequoia | -$35.91M-4,421% | $831K+134% | -$2.43M-105% | $47.03M+126% | $20.79M+142% | |
| Interest Expense by Business | ||||||
| Aspire | $14.77M— | —— | —— | —— | $227K— | |
| CoreVest | $2.08M-35.4% | $3.22M+26.2% | $2.55M+34.2% | $1.9M-36.8% | $3.01M-13.7% | |
| Legacy Investments | $12.71M-2.4% | $13.02M-57.3% | $30.53M-7.2% | $32.9M-15.3% | $38.85M+67.3% | |
| Redwood Investments | $256.31M+12.2% | $228.5M+9.9% | $207.94M+5.2% | $197.65M+6.8% | $185.05M+12.2% | |
| Sequoia | $36.34M-8.4% | $39.68M+48.8% | $26.66M+24.0% | $21.5M+26.4% | $17.02M-10.9% | |
| HEI income, net by Business | ||||||
| Aspire | $0— | —— | —— | —— | $0— | |
| CoreVest | $0— | $0— | $0— | $0— | $0— | |
| Legacy Investments | $6.53M— | —— | -$291K+97.8% | -$13.03M-229% | $10.11M+59.0% | |
| Redwood Investments | $575K+16.6% | $493K-33.8% | $745K+491% | $126K+129% | $55K+89.7% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Dividends, Preferred Stock by Business | ||||||
| Aspire | $204K— | —— | —— | —— | $17K— | |
| CoreVest | $87K— | —— | —— | —— | $67K— | |
| Legacy Investments | $257K— | —— | —— | —— | $708K— | |
| Redwood Investments | $658K— | —— | —— | —— | $552K— | |
| Sequoia | $544K— | —— | —— | —— | $406K— | |
| Increase (Decrease) in Fair Value Adjustments on Assets by Business | ||||||
| Aspire | -$2.24M— | —— | —— | —— | $226K— | |
| CoreVest | -$1.67M— | —— | $3.29M-27.8% | $4.56M-34.2% | $6.93M— | |
| Sequoia | $36.87M— | —— | $54.87M+242% | -$38.65M-227% | $30.37M— | |
| Loan Acquisition Costs by Business | ||||||
| Aspire | $1.05M— | —— | —— | —— | $0— | |
| CoreVest | $2.84M+6.6% | $2.67M+47.7% | $1.8M-48.7% | $3.51M+40.7% | $2.5M-3.3% | |
| Legacy Investments | $0-100% | $1K-99.4% | $156K— | $0— | $0— | |
| Redwood Investments | $0— | $0— | $0— | $0— | $0-100% | |
| Sequoia | $2.84M+2.5% | $2.77M+15.8% | $2.4M+89.0% | $1.27M+18.3% | $1.07M+5.3% | |
| Portfolio Management Costs by Business | ||||||
| Aspire | $0— | —— | —— | —— | $0— | |
| CoreVest | $0— | $0— | $0— | $0— | $0— | |
| Legacy Investments | $4.55M+129% | $1.99M-42.0% | $3.43M-53.9% | $7.43M+67.8% | $4.43M+10.7% | |
| Redwood Investments | $4.16M+51.0% | $2.75M-21.9% | $3.52M+35.9% | $2.59M+25.9% | $2.06M-0.8% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Increase (Decrease) in Fair Value of Price Risk Fair Value Hedging Instruments by Business | ||||||
| Aspire | $4.23M— | —— | —— | —— | $0— | |
| CoreVest | $301K— | —— | $18K-98.4% | $1.11M+138% | -$2.95M— | |
| Sequoia | -$35.91M— | —— | -$2.43M-105% | $47.03M+126% | $20.79M— |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Redwood Trust break its business down?
- Redwood Trust (RWT) reports net (loss) income by business across 5 parts — Aspire, CoreVest, Legacy Investments, Redwood Investments and Sequoia. Each is extracted from the segment footnotes and tracked over time.
- Where does Redwood Trust's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Redwood Trust's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
