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+50.8% | $18.45M+704% | $12.51M+627% | $14.7M+231% | $9.16M+161% | |
| Legacy Investments | -$157.65M-586% | -$153.48M— | -$152.16M— | -$126.25M— | -$22.99M— | |
| Redwood Investments | $35.78M-66.3% | $62.53M-56.7% | $73.96M-48.0% | $80.05M-48.7% | $106.27M-28.3% | |
| Sequoia | $138.67M+79.3% | $123.16M+100% | $101.13M+140% | $89.57M+308% | $77.34M+431% | |
| Noninterest Income, Net by Business | ||||||
| CoreVest | $62.35M+5.0% | $65.95M+25.0% | $62.93M+23.9% | $65.48M+49.4% | $59.38M+43.9% | |
| Legacy Investments | -$106.29M-531% | -$105.64M— | -$123.34M— | -$107.85M— | -$16.85M— | |
| Redwood Investments | $2.19M-94.1% | $16.17M-74.9% | $18.08M-71.8% | $9.36M-89.1% | $37.28M-52.5% | |
| Sequoia | $115.55M+61.2% | $115.42M+100% | $91.83M+91.3% | $89.82M+215% | $71.67M+143% | |
| Fee income, net by Business | ||||||
| CoreVest | $12.58M-6.0% | $12.83M+17.4% | $14.81M+71.5% | $14.99M+226% | $13.38M+178% | |
| Legacy Investments | -$2.16M-10.2% | -$2.9M-166% | -$3.08M-596% | -$3.01M-483% | -$1.96M-281% | |
| Redwood Investments | $1.07M+33.8% | $1.02M-1.2% | $992K-12.0% | $786K-40.6% | $802K-30.6% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Other income, net by Business | ||||||
| CoreVest | $2.25M— | $1.66M— | -$213K-4,360% | $715K+7,050% | $0-100% | |
| Legacy Investments | -$141K— | -$1.09M— | -$532K— | $0— | $0— | |
| Redwood Investments | $2.08M-39.9% | $1.69M-46.0% | $2.28M-1.9% | $2.82M+79.8% | $3.46M+389% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Realized gains, net by Business | ||||||
| CoreVest | $0— | $0— | $0— | $0— | $0— | |
| Legacy Investments | -$1.77M— | -$1.77M— | $0+100% | $0+100% | $0+100% | |
| Redwood Investments | $640K-21.8% | $1.21M+114% | $1.25M+38.5% | $1.46M+36.9% | $818K-43.2% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Interest Income (Expense), Operating by Business | ||||||
| CoreVest | $8.5M+46.6% | $7.78M+46.5% | $5.86M+20.3% | $6.13M+61.0% | $5.8M+92.8% | |
| Legacy Investments | -$35.58M-421% | -$31.57M-243% | -$10.72M-147% | -$193K-101% | $11.09M-76.1% | |
| Redwood Investments | $72.21M-22.0% | $76.29M-27.8% | $80.88M-21.0% | $90.19M-6.8% | $92.57M-1.2% | |
| Sequoia | $89.03M+70.0% | $78.69M+79.7% | $68.4M+152% | $56.71M+217% | $52.37M+647% | |
| Total Assets by Business | ||||||
| CoreVest | $1.38B-0.6% | $1.4B— | $1.36B— | $1.32B— | $1.39B— | |
| Legacy Investments | $7.15B-44.0% | $9.29B— | $11.45B— | $12.48B— | $12.76B— | |
| Redwood Investments | $73.54B+41.3% | $66.15B— | $60.68B— | $56.59B— | $52.03B— | |
| Sequoia | $10.24B+88.8% | $9.21B— | $7.12B— | $6.01B— | $5.42B— | |
| Income Tax Expense (Benefit) by Business | ||||||
| CoreVest | -$4.65M-536% | -$3.23M-45.7% | -$2.49M-94.9% | -$1.46M+48.4% | -$731K+81.0% | |
| Sequoia | $21.91M+0.9% | $30.35M+89.6% | $27.92M+167% | $29.44M+658% | $21.71M+693% | |
| Servicing income, net by Business | ||||||
| CoreVest | $0— | $0— | $0— | $0— | $0— | |
| Legacy Investments | $0— | $0— | $0— | $0— | $0— | |
| Redwood Investments | $14.61M+7.4% | $9.99M-30.7% | $12.82M+31.0% | $11.66M+3.2% | $13.6M+43.1% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Mortgage banking activities, net by Business | ||||||
| CoreVest | $47.56M+1.8% | $51.33M+20.1% | $48.61M+13.3% | $50.2M+26.1% | $46.74M+27.3% | |
| Legacy Investments | $0— | $0— | $0— | $0— | $0— | |
| Redwood Investments | $0— | $0— | $0— | $0— | $0— | |
| Sequoia | $115.55M+61.2% | $115.42M+100% | $91.83M+92.4% | $89.82M+221% | $71.67M+150% | |
| Other Expenses by Business | ||||||
| CoreVest | $8.23M-6.5% | $8.43M-10.5% | $8.62M-16.5% | $8.81M-21.5% | $8.81M-27.4% | |
| Legacy Investments | $500K— | $500K— | $500K— | $0— | $0— | |
| Redwood Investments | $16.35M+181% | $12.94M+177% | $7.83M+56.4% | $4.68M-27.1% | $5.83M+18.8% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| General and Administrative Expense by Business | ||||||
| CoreVest | $42.63M+10.6% | $39.6M-1.0% | $39.75M-4.3% | $39.08M-9.9% | $38.54M-14.0% | |
| Legacy Investments | $112K-5.9% | $112K— | $111K— | $88K— | $119K— | |
| Redwood Investments | $7.58M+13.0% | $6.07M-13.5% | $6.63M-8.0% | $6.89M-3.9% | $6.71M-12.1% | |
| Sequoia | $34.72M+68.3% | $33.09M+65.4% | $25.42M+31.8% | $22.89M+24.8% | $20.64M+16.8% | |
| Interest Income by Business | ||||||
| CoreVest | $18.27M-12.6% | $18.47M-8.9% | $16.82M-14.3% | $17.63M-5.8% | $20.9M+33.2% | |
| Legacy Investments | $53.58M-64.6% | $83.73M-48.5% | $114.78M-36.0% | $133.23M-30.6% | $151.48M-25.3% | |
| Redwood Investments | $962.6M+33.1% | $895.42M+26.7% | $836.37M+32.1% | $787.99M+37.6% | $723.29M+35.5% | |
| Sequoia | $213.2M+85.1% | $183.54M+87.6% | $152.68M+124% | $131.11M+173% | $115.19M+245% | |
| Mortgage banking activities, net, excluding risk management derivatives by Business | ||||||
| CoreVest | $46.28M-0.1% | $53.2M+44.9% | $47.73M+20.2% | $48.64M+29.6% | $46.33M+33.9% | |
| Legacy Investments | $0— | $0— | $0— | $0— | $0— | |
| Redwood Investments | $0— | $0— | $0— | $0— | $0— | |
| Sequoia | $106.03M+34.9% | $49.2M-40.2% | $76.18M+181% | $37.7M-17.8% | $78.6M+101% | |
| Investment fair value changes, net by Business | ||||||
| CoreVest | -$265K— | $0— | $0— | $0— | $0— | |
| Legacy Investments | -$97.93M-28.9% | -$99.17M-47.5% | -$132.04M-209% | -$134.45M-168% | -$75.95M-53.0% | |
| Redwood Investments | $34.4M-43.5% | $98.95M+77.5% | $24.18M-31.5% | $16.8M-66.8% | $60.84M+53.5% | |
| Sequoia | $0— | $0— | $0-100% | $0-100% | $0-100% | |
| Risk management derivatives (losses) gains, net by Business | ||||||
| CoreVest | $1.43M+524% | -$1.82M-136% | $605K-75.5% | $1.14M-32.5% | -$336K-118% | |
| Legacy Investments | $0— | $0— | $0— | $0— | $0— | |
| Redwood Investments | $0— | $0— | $0— | $0— | $0— | |
| Sequoia | $9.52M+238% | $66.22M+369% | $15.65M-24.2% | $52.12M+391% | -$6.93M+33.0% | |
| Interest Expense by Business | ||||||
| CoreVest | $9.76M-35.4% | $10.69M-28.6% | $10.96M-25.7% | $11.5M-22.9% | $15.1M+19.1% | |
| Legacy Investments | $89.16M-36.5% | $115.3M-17.9% | $125.5M-19.7% | $133.42M-15.1% | $140.38M-10.3% | |
| Redwood Investments | $890.39M+41.2% | $819.13M+36.3% | $755.49M+42.3% | $697.79M+46.7% | $630.72M+43.3% | |
| Sequoia | $124.17M+97.7% | $104.85M+93.9% | $84.28M+106% | $74.4M+146% | $62.82M+138% | |
| HEI income, net by Business | ||||||
| CoreVest | $0— | $0— | $0— | $0— | $0— | |
| Redwood Investments | $1.94M+1,572% | $1.42M-84.5% | $955K-93.6% | $242K-98.8% | $116K-99.6% | |
| Sequoia | $0— | $0— | $0— | $0— | $0— | |
| Loan Acquisition Costs by Business | ||||||
| CoreVest | $10.83M+15.2% | $10.48M+22.4% | $10.4M+39.4% | $10.48M+48.7% | $9.4M+54.3% | |
| Legacy Investments | $157K— | $157K— | —— | —— | —— | |
| Redwood Investments | $0-100% | $0-100% | $1K-92.3% | $1K-92.3% | $14K— | |
| Sequoia | $9.28M+113% | $7.51M+94.5% | $5.75M+82.0% | $4.65M+113% | $4.36M+186% | |
| Portfolio Management Costs by Business | ||||||
| CoreVest | $0— | $0— | $0— | $0— | $0— | |
| Legacy Investments | $17.4M+3.1% | $17.28M+15.0% | $19.3M+46.8% | $20.66M+97.3% | $16.87M+88.4% | |
| Redwood Investments | $13.03M+89.1% | $10.93M+29.9% | $10.25M+30.6% | $8.28M+6.0% | $6.89M-15.2% | |
| 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.
