Redwood Trust RWT Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Net (Loss) Income by Business | ||||||
| Aspire | $2.47M+361% | —— | —— | —— | -$948K— | |
| CoreVest | -$3.29M-343% | $7.47M+390% | $3.49M-38.6% | $6.14M+931% | $1.36M+125% | |
| Legacy Investments | -$12.8M-48.2% | -$18.62M-7.6% | -$22.23M-705% | -$103.99M-14,283% | -$8.64M— | |
| Redwood Investments | -$7.34M-138% | $20.89M-35.4% | $10.34M-37.1% | $11.89M-68.8% | $19.41M-66.2% | |
| Sequoia | $38.38M+67.9% | $43.82M+101% | $34.32M+50.8% | $22.15M+123% | $22.86M+226% | |
| Noninterest Income, Net by Business | ||||||
| Aspire | $2.68M+1,052% | —— | —— | —— | $233K— | |
| CoreVest | $10.38M-25.8% | $16.28M+22.8% | $15.73M-14.0% | $19.96M+44.1% | $13.98M+90.1% | |
| Legacy Investments | -$140K-127% | -$8.06M+68.7% | -$8.5M-222% | -$89.58M-6,458% | $510K— | |
| Redwood Investments | -$5.76M-170% | $12.69M-13.1% | $1.08M+114% | -$5.82M-126% | $8.22M-76.7% | |
| Sequoia | $22.05M+0.6% | $40.38M+140% | $28.72M+7.5% | $24.4M+291% | $21.92M+180% | |
| Net (loss) income (related) available to common stockholders by Business | ||||||
| Aspire | $2.27M+335% | —— | —— | —— | -$965K— | |
| CoreVest | -$3.38M-362% | —— | —— | —— | $1.29M— | |
| Legacy Investments | -$13.06M-39.8% | —— | —— | —— | -$9.35M— | |
| Redwood Investments | -$8M-142% | —— | —— | —— | $18.86M— | |
| Sequoia | $37.83M+68.5% | —— | —— | —— | $22.45M— | |
| Fee income, net by Business | ||||||
| Aspire | $0— | —— | —— | —— | $0— | |
| CoreVest | $2.83M-8.2% | $1.73M-53.3% | $5.25M-3.4% | $2.78M+137% | $3.08M+392% | |
| Legacy Investments | -$133K+84.7% | -$106K+63.1% | -$938K-8.4% | -$985K-1,715% | -$870K— | |
| Redwood Investments | $192K+35.2% | $199K+18.5% | $270K+322% | $412K-3.7% | $142K-62.1% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Other income, net by Business | ||||||
| Aspire | $370K+5,186% | —— | —— | —— | $7K— | |
| CoreVest | $589K— | $1.87M— | -$928K— | $715K— | $0— | |
| Legacy Investments | $950K— | -$559K— | -$532K— | $0— | $0— | |
| Redwood Investments | $898K+77.1% | $394K-59.9% | $392K-57.9% | $394K-62.0% | $507K+198% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Realized gains, net by Business | ||||||
| Aspire | $0— | —— | —— | —— | $0— | |
| CoreVest | $0— | $0— | $0— | $0— | $0— | |
| Legacy Investments | $0— | -$1.77M— | $0— | $0— | $0— | |
| Redwood Investments | $0-100% | $0-100% | $0-100% | $640K— | $567K+80.6% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Interest Income (Expense), Operating by Business | ||||||
| Aspire | $3.64M+2,090% | —— | —— | —— | -$183K— | |
| CoreVest | $2.11M+52.5% | $3.06M+168% | $1.5M-15.3% | $1.83M+21.9% | $1.38M+54.7% | |
| Legacy Investments | -$8.71M-85.3% | -$8.36M-167% | -$9.05M-713% | -$9.45M-615% | -$4.7M-175% | |
| Redwood Investments | $12.44M-24.7% | $20.09M-18.6% | $17.58M-34.6% | $22.1M-9.7% | $16.52M-44.2% | |
| Sequoia | $24.97M+70.8% | $27.31M+60.4% | $21.23M+122% | $15.52M+38.9% | $14.62M+142% | |
| Total Assets by Business | ||||||
| Aspire | $891.54M+5,585% | —— | —— | —— | $15.68M— | |
| CoreVest | $329.33M-4.3% | $357.99M+12.7% | $393.79M+10.2% | $301.74M-18.9% | $343.99M— | |
| Legacy Investments | $945.02M-69.4% | $942.47M-69.6% | $2.31B-30.9% | $2.95B-8.6% | $3.09B— | |
| Redwood Investments | $21.9B+50.9% | $18.74B+41.2% | $16.91B+31.9% | $15.98B+39.9% | $14.51B— | |
| Sequoia | $2.57B+66.8% | $3.32B+170% | $2.66B+72.3% | $1.69B+52.7% | $1.54B— | |
| Income Tax Expense (Benefit) by Business | ||||||
| Aspire | $342K+389% | —— | —— | —— | $70K— | |
| CoreVest | -$2.06M-218% | -$2.26M-49.4% | -$48K-105% | -$278K-162% | -$648K+69.7% | |
| Legacy Investments | -$610K— | —— | $571K— | -$2.54M— | $0— | |
| Redwood Investments | $1.37M+552% | —— | $30K+105% | -$1.57M-154% | -$304K-127% | |
| Sequoia | -$1.25M-117% | $8.4M+40.6% | $5.46M-21.7% | $9.29M+495% | $7.19M+381% | |
| 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+135% | $3.56M-44.2% | $1.42M+464% | $1.61M-54.7% | $3.41M-19.4% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Other (loss) income, net by Business | ||||||
| CoreVest Mortgage Banking | $8.23M+39.8% | —— | $7.07M+27.5% | $7.22M+22.9% | $5.89M— | |
| Sequoia Mortgage Banking | $567K+567% | —— | $655K+95.5% | $921K-31.7% | $85K— | |
| Mortgage banking activities, net by Business | ||||||
| Aspire | $2.68M+1,052% | —— | —— | —— | $233K— | |
| CoreVest | $7.23M-34.3% | $12.46M+27.9% | $11.41M-12.2% | $16.46M+26.6% | $11M+57.1% | |
| Legacy Investments | $0— | $0— | $0— | $0— | $0— | |
| Redwood Investments | $0— | $0— | $0— | $0— | $0— | |
| Sequoia | $22.05M+0.6% | $40.38M+140% | $28.72M+7.5% | $24.4M+291% | $21.92M+180% | |
| Other Expenses by Business | ||||||
| Aspire | $0— | —— | —— | —— | $0— | |
| CoreVest | $2.01M-8.7% | $2.01M-8.8% | $2.01M-8.7% | $2.2M0.0% | $2.2M-21.5% | |
| Legacy Investments | $0— | $0— | $500K— | $0— | $0— | |
| Redwood Investments | $5.12M+200% | $6.23M+457% | $3.17M+12,092% | $1.83M-38.4% | $1.71M+208% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| General and Administrative Expense by Business | ||||||
| Aspire | $2.47M+166% | —— | —— | —— | $928K— | |
| CoreVest | $12.99M+30.4% | $9.46M-1.5% | $9.97M+7.1% | $10.22M+5.6% | $9.96M-12.8% | |
| Legacy Investments | $16K0.0% | $16K+6.7% | $23K— | $57K-35.2% | $16K— | |
| Redwood Investments | $3.38M+81.0% | $1.07M-34.2% | $1.6M-14.1% | $1.53M+13.3% | $1.87M-14.0% | |
| Sequoia | $7.05M+30.1% | $12.69M+153% | $7.77M+48.4% | $7.21M+45.4% | $5.42M+13.1% | |
| Interest Income by Business | ||||||
| Aspire | $18.41M+41,736% | —— | —— | —— | $44K— | |
| CoreVest | $4.19M-4.6% | $6.29M+35.7% | $4.05M-16.8% | $3.74M-46.7% | $4.39M+16.5% | |
| Legacy Investments | $4M-88.3% | $4.66M-87.0% | $21.48M-46.2% | $23.45M-43.8% | $34.15M-24.3% | |
| Redwood Investments | $268.75M+33.3% | $248.58M+31.2% | $225.52M+27.3% | $219.74M+41.7% | $201.57M+9.0% | |
| Sequoia | $61.31M+93.8% | $66.99M+85.4% | $47.89M+82.0% | $37.02M+75.5% | $31.64M+121% | |
| Mortgage banking activities, net, excluding risk management derivatives by Business | ||||||
| Aspire | -$1.54M-763% | —— | —— | —— | $233K— | |
| CoreVest | $6.93M-50.0% | $12.6M+76.7% | $11.4M-7.4% | $15.35M+17.7% | $13.85M+228% | |
| Legacy Investments | $0— | $0— | $0— | $0— | $0— | |
| Redwood Investments | $0— | $0— | $0— | $0— | $0— | |
| Sequoia | $57.96M+5,025% | $39.55M-40.6% | $31.15M+525% | -$22.63M-224% | $1.13M-76.1% | |
| Investment fair value changes, net by Business | ||||||
| Aspire | $0— | —— | —— | —— | $0— | |
| CoreVest | -$265K— | $0— | $0— | $0— | $0— | |
| Legacy Investments | -$7.49M+14.2% | -$8.13M+80.2% | -$6.74M+26.3% | -$75.57M-342% | -$8.73M— | |
| Redwood Investments | -$38.26M-246% | $101.35M+281% | -$1.74M+80.9% | -$26.96M-258% | $26.29M+24.1% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Risk management derivatives (losses) gains, net by Business | ||||||
| Aspire | $4.23M— | —— | —— | —— | $0— | |
| CoreVest | $301K+110% | $0-100% | $18K-96.7% | $1.11M+402% | -$2.95M-217% | |
| Legacy Investments | $0— | $0— | $0— | $0— | $0— | |
| Redwood Investments | $0— | $0— | $0— | $0— | $0— | |
| Sequoia | -$35.91M-273% | $831K+102% | -$2.43M-107% | $47.03M+491% | $20.79M+573% | |
| Interest Expense by Business | ||||||
| Aspire | $14.77M+6,405% | —— | —— | —— | $227K— | |
| CoreVest | $2.08M-30.8% | $3.22M-7.6% | $2.55M-17.6% | $1.9M-65.4% | $3.01M+4.7% | |
| Legacy Investments | $12.71M-67.3% | $13.02M-43.9% | $30.53M-20.6% | $32.9M-17.5% | $38.85M+0.1% | |
| Redwood Investments | $256.31M+38.5% | $228.5M+38.6% | $207.94M+38.4% | $197.65M+51.4% | $185.05M+19.2% | |
| Sequoia | $36.34M+114% | $39.68M+108% | $26.66M+59.0% | $21.5M+117% | $17.02M+106% | |
| HEI income, net by Business | ||||||
| Aspire | $0— | —— | —— | —— | $0— | |
| CoreVest | $0— | $0— | $0— | $0— | $0— | |
| Legacy Investments | $6.53M-35.4% | —— | -$291K-103% | -$13.03M-182% | $10.11M+11.3% | |
| Redwood Investments | $575K+945% | $493K+1,600% | $745K+2,228% | $126K— | $55K-99.4% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Dividends, Preferred Stock by Business | ||||||
| Aspire | $204K+1,100% | —— | —— | —— | $17K— | |
| CoreVest | $87K+29.9% | —— | —— | —— | $67K— | |
| Legacy Investments | $257K-63.7% | —— | —— | —— | $708K— | |
| Redwood Investments | $658K+19.2% | —— | —— | —— | $552K— | |
| Sequoia | $544K+34.0% | —— | —— | —— | $406K— | |
| Increase (Decrease) in Fair Value Adjustments on Assets by Business | ||||||
| Aspire | -$2.24M-1,092% | —— | —— | —— | $226K— | |
| CoreVest | -$1.67M-124% | —— | $3.29M-45.7% | $4.56M-24.9% | $6.93M— | |
| Sequoia | $36.87M+21.4% | —— | $54.87M+292% | -$38.65M-370% | $30.37M— | |
| Loan Acquisition Costs by Business | ||||||
| Aspire | $1.05M— | —— | —— | —— | $0— | |
| CoreVest | $2.84M+13.8% | $2.67M+3.3% | $1.8M-4.3% | $3.51M+44.4% | $2.5M+50.2% | |
| Legacy Investments | $0— | $1K— | $156K— | $0-100% | $0— | |
| Redwood Investments | $0— | $0-100% | $0— | $0-100% | $0— | |
| Sequoia | $2.84M+165% | $2.77M+173% | $2.4M+85.5% | $1.27M+29.3% | $1.07M+87.2% | |
| Portfolio Management Costs by Business | ||||||
| Aspire | $0— | —— | —— | —— | $0— | |
| CoreVest | $0— | $0— | $0— | $0— | $0— | |
| Legacy Investments | $4.55M+2.6% | $1.99M-50.3% | $3.43M-28.5% | $7.43M+104% | $4.43M+71.5% | |
| Redwood Investments | $4.16M+102% | $2.75M+32.6% | $3.52M+127% | $2.59M+116% | $2.06M-42.6% | |
| 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+110% | —— | $18K-96.7% | $1.11M+401% | -$2.95M— | |
| Sequoia | -$35.91M-273% | —— | -$2.43M-107% | $47.03M+491% | $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.
