v3.25.2
Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue        
Interest income $ 1,058 $ 1,605 $ 2,137 $ 3,105
Interest expense (8) (162) (35) (216)
Net interest income 1,050 1,443 2,102 2,889
Late fees 2 2 7 6
Gain on sale, loans 0 24 8 24
Total revenue, net 1,052 1,469 2,117 2,919
Provision for credit losses 110 0 110 0
Operations expense        
Mortgage servicing fees to Redwood Mortgage Corp. 29 41 61 81
Asset management fees to Redwood Mortgage Corp. 118 118 236 236
Costs from Redwood Mortgage Corp., net (Note 3) 148 72 288 162
Professional services 370 374 902 926
Other 6 17 32 22
Total operations expense 671 622 1,519 1,427
Net income 271 847 488 1,492
Members (99%) 268 839 483 1,478
Manager (1%) $ 3 $ 8 $ 5 $ 14