v3.26.1
Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenue        
Interest income $ 1,377 $ 1,058 $ 2,781 $ 2,137
Interest expense (43) (8) (80) (35)
Net interest income 1,334 1,050 2,701 2,102
Late fees 1 2 9 7
Gain on sale, loans 2 0 2 8
Total revenue, net 1,337 1,052 2,712 2,117
Provision for credit losses 330 110 330 110
Non-interest income - Gain on sale of REO (Note 5) 309 0 309 0
Operations expense        
Mortgage servicing fees to Redwood Mortgage Corp. (RMC) 35 29 71 61
Asset management fees to RMC 110 118 220 236
Costs from RMC 171 148 314 288
Professional services 313 370 709 902
REO holding costs 36 0 56 0
Other 6 6 21 32
Total operations expense 671 671 1,391 1,519
Net income 645 271 1,300 488
Members (99%) 639 268 1,287 483
Manager (1%) $ 6 $ 3 $ 13 $ 5