Redwood Trust RWT Business Segments
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Net (Loss) Income by Business | ||||||
| CoreVest | $13.81M-25.2% | $18.45M+47.5% | $12.51M-14.9% | $14.7M+60.5% | $9.16M+299% | |
| Legacy Investments | -$157.65M-2.7% | -$153.48M-0.9% | -$152.16M-20.5% | -$126.25M-449% | -$22.99M— | |
| Redwood Investments | $35.78M-42.8% | $62.53M-15.4% | $73.96M-7.6% | $80.05M-24.7% | $106.27M-26.4% | |
| Sequoia | $138.67M+12.6% | $123.16M+21.8% | $101.13M+12.9% | $89.57M+15.8% | $77.34M+25.8% | |
| Noninterest Income, Net by Business | ||||||
| CoreVest | $62.35M-5.5% | $65.95M+4.8% | $62.93M-3.9% | $65.48M+10.3% | $59.38M+12.6% | |
| Legacy Investments | -$106.29M-0.6% | -$105.64M+14.4% | -$123.34M-14.4% | -$107.85M-540% | -$16.85M— | |
| Redwood Investments | $2.19M-86.4% | $16.17M-10.5% | $18.08M+93.1% | $9.36M-74.9% | $37.28M-42.1% | |
| Sequoia | $115.55M+0.1% | $115.42M+25.7% | $91.83M+2.2% | $89.82M+25.3% | $71.67M+24.5% | |
| Fee income, net by Business | ||||||
| CoreVest | $12.58M-2.0% | $12.83M-13.3% | $14.81M-1.2% | $14.99M+12.0% | $13.38M+22.4% | |
| Legacy Investments | -$2.16M+25.4% | -$2.9M+5.9% | -$3.08M-2.4% | -$3.01M-53.3% | -$1.96M-79.7% | |
| Redwood Investments | $1.07M+4.9% | $1.02M+3.1% | $992K+26.2% | $786K-2.0% | $802K-22.5% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Other income, net by Business | ||||||
| CoreVest | $2.25M+35.5% | $1.66M+880% | -$213K-130% | $715K— | $0— | |
| Legacy Investments | -$141K+87.1% | -$1.09M-105% | -$532K— | $0— | $0— | |
| Redwood Investments | $2.08M+23.2% | $1.69M-25.9% | $2.28M-19.2% | $2.82M-18.6% | $3.46M+10.8% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Realized gains, net by Business | ||||||
| CoreVest | $0— | $0— | $0— | $0— | $0— | |
| Legacy Investments | -$1.77M0.0% | -$1.77M— | $0— | $0— | $0— | |
| Redwood Investments | $640K-47.0% | $1.21M-3.2% | $1.25M-14.5% | $1.46M+78.2% | $818K+44.8% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Interest Income (Expense), Operating by Business | ||||||
| CoreVest | $8.5M+9.3% | $7.78M+32.8% | $5.86M-4.4% | $6.13M+5.7% | $5.8M+9.2% | |
| Legacy Investments | -$35.58M-12.7% | -$31.57M-194% | -$10.72M-5,455% | -$193K-102% | $11.09M-49.8% | |
| Redwood Investments | $72.21M-5.4% | $76.29M-5.7% | $80.88M-10.3% | $90.19M-2.6% | $92.57M-12.4% | |
| Sequoia | $89.03M+13.1% | $78.69M+15.0% | $68.4M+20.6% | $56.71M+8.3% | $52.37M+19.6% | |
| Total Assets by Business | ||||||
| CoreVest | $1.38B-1.0% | $1.4B+3.0% | $1.36B+2.8% | $1.32B-5.0% | $1.39B— | |
| Legacy Investments | $7.15B-23.1% | $9.29B-18.9% | $11.45B-8.3% | $12.48B-2.2% | $12.76B— | |
| Redwood Investments | $73.54B+11.2% | $66.15B+9.0% | $60.68B+7.2% | $56.59B+8.8% | $52.03B— | |
| Sequoia | $10.24B+11.2% | $9.21B+29.3% | $7.12B+18.6% | $6.01B+10.7% | $5.42B— | |
| Income Tax Expense (Benefit) by Business | ||||||
| CoreVest | -$4.65M-43.7% | -$3.23M-30.0% | -$2.49M-70.6% | -$1.46M-99.5% | -$731K+67.1% | |
| Sequoia | $21.91M-27.8% | $30.35M+8.7% | $27.92M-5.1% | $29.44M+35.6% | $21.71M+35.6% | |
| Servicing income, net by Business | ||||||
| CoreVest | $0— | $0— | $0— | $0— | $0— | |
| Legacy Investments | $0— | $0— | $0— | $0— | $0— | |
| Redwood Investments | $14.61M+46.2% | $9.99M-22.1% | $12.82M+10.0% | $11.66M-14.3% | $13.6M-5.7% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Mortgage banking activities, net by Business | ||||||
| CoreVest | $47.56M-7.3% | $51.33M+5.6% | $48.61M-3.2% | $50.2M+7.4% | $46.74M+9.4% | |
| Legacy Investments | $0— | $0— | $0— | $0— | $0— | |
| Redwood Investments | $0— | $0— | $0— | $0— | $0— | |
| Sequoia | $115.55M+0.1% | $115.42M+25.7% | $91.83M+2.2% | $89.82M+25.3% | $71.67M+24.5% | |
| Other Expenses by Business | ||||||
| CoreVest | $8.23M-2.3% | $8.43M-2.2% | $8.62M-2.2% | $8.81M0.0% | $8.81M-6.4% | |
| Legacy Investments | $500K0.0% | $500K0.0% | $500K— | $0— | $0— | |
| Redwood Investments | $16.35M+26.3% | $12.94M+65.3% | $7.83M+67.1% | $4.68M-19.6% | $5.83M+24.6% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| General and Administrative Expense by Business | ||||||
| CoreVest | $42.63M+7.7% | $39.6M-0.4% | $39.75M+1.7% | $39.08M+1.4% | $38.54M-3.7% | |
| Legacy Investments | $112K0.0% | $112K+0.9% | $111K+26.1% | $88K-26.1% | $119K— | |
| Redwood Investments | $7.58M+24.9% | $6.07M-8.4% | $6.63M-3.8% | $6.89M+2.7% | $6.71M-4.3% | |
| Sequoia | $34.72M+4.9% | $33.09M+30.2% | $25.42M+11.1% | $22.89M+10.9% | $20.64M+3.1% | |
| Interest Income by Business | ||||||
| CoreVest | $18.27M-1.1% | $18.47M+9.8% | $16.82M-4.6% | $17.63M-15.6% | $20.9M+3.1% | |
| Legacy Investments | $53.58M-36.0% | $83.73M-27.1% | $114.78M-13.8% | $133.23M-12.0% | $151.48M-6.8% | |
| Redwood Investments | $962.6M+7.5% | $895.42M+7.1% | $836.37M+6.1% | $787.99M+8.9% | $723.29M+2.4% | |
| Sequoia | $213.2M+16.2% | $183.54M+20.2% | $152.68M+16.5% | $131.11M+13.8% | $115.19M+17.7% | |
| Mortgage banking activities, net, excluding risk management derivatives by Business | ||||||
| CoreVest | $46.28M-13.0% | $53.2M+11.5% | $47.73M-1.9% | $48.64M+5.0% | $46.33M+26.2% | |
| Legacy Investments | $0— | $0— | $0— | $0— | $0— | |
| Redwood Investments | $0— | $0— | $0— | $0— | $0— | |
| Sequoia | $106.03M+116% | $49.2M-35.4% | $76.18M+102% | $37.7M-52.0% | $78.6M-4.4% | |
| Investment fair value changes, net by Business | ||||||
| CoreVest | -$265K— | $0— | $0— | $0— | $0— | |
| Legacy Investments | -$97.93M+1.3% | -$99.17M+24.9% | -$132.04M+1.8% | -$134.45M-77.0% | -$75.95M-13.0% | |
| Redwood Investments | $34.4M-65.2% | $98.95M+309% | $24.18M+44.0% | $16.8M-72.4% | $60.84M+9.2% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Risk management derivatives (losses) gains, net by Business | ||||||
| CoreVest | $1.43M+178% | -$1.82M-401% | $605K-46.8% | $1.14M+439% | -$336K-107% | |
| Legacy Investments | $0— | $0— | $0— | $0— | $0— | |
| Redwood Investments | $0— | $0— | $0— | $0— | $0— | |
| Sequoia | $9.52M-85.6% | $66.22M+323% | $15.65M-70.0% | $52.12M+853% | -$6.93M+71.9% | |
| Interest Expense by Business | ||||||
| CoreVest | $9.76M-8.7% | $10.69M-2.4% | $10.96M-4.7% | $11.5M-23.8% | $15.1M+0.9% | |
| Legacy Investments | $89.16M-22.7% | $115.3M-8.1% | $125.5M-5.9% | $133.42M-5.0% | $140.38M0.0% | |
| Redwood Investments | $890.39M+8.7% | $819.13M+8.4% | $755.49M+8.3% | $697.79M+10.6% | $630.72M+4.9% | |
| Sequoia | $124.17M+18.4% | $104.85M+24.4% | $84.28M+13.3% | $74.4M+18.4% | $62.82M+16.2% | |
| HEI income, net by Business | ||||||
| CoreVest | $0— | $0— | $0— | $0— | $0— | |
| Redwood Investments | $1.94M+36.6% | $1.42M+48.6% | $955K+295% | $242K+109% | $116K-98.7% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Loan Acquisition Costs by Business | ||||||
| CoreVest | $10.83M+3.3% | $10.48M+0.8% | $10.4M-0.8% | $10.48M+11.5% | $9.4M+9.7% | |
| Legacy Investments | $157K0.0% | $157K— | —— | —— | —— | |
| Redwood Investments | $0— | $0-100% | $1K0.0% | $1K-92.9% | $14K0.0% | |
| Sequoia | $9.28M+23.6% | $7.51M+30.5% | $5.75M+23.8% | $4.65M+6.6% | $4.36M+12.9% | |
| Portfolio Management Costs by Business | ||||||
| CoreVest | $0— | $0— | $0— | $0— | $0— | |
| Legacy Investments | $17.4M+0.7% | $17.28M-10.4% | $19.3M-6.6% | $20.66M+22.5% | $16.87M+12.3% | |
| Redwood Investments | $13.03M+19.2% | $10.93M+6.6% | $10.25M+23.8% | $8.28M+20.2% | $6.89M-18.2% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— |
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.
