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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenue        
Interest income $ 1,234 $ 1,669 $ 3,840 $ 5,308
Interest expense        
Line of credit (146) (108) (342) (275)
Mortgages payable (10) (20) (40) (71)
Total interest expense (156) (128) (382) (346)
Net interest income 1,078 1,541 3,458 4,962
Late fees 31 5 57 41
Gain on sale, loans 41 0 122 0
Total revenue, net 1,150 1,546 3,637 5,003
Provision for (recovery of) loan losses 0 5 0 4
Operations expense        
Mortgage servicing fees to Redwood Mortgage Corp. 300 265 760 825
Asset management fees to Redwood Mortgage Corp. 59 71 186 223
Costs from Redwood Mortgage Corp. 203 148 542 502
Professional services 251 224 809 817
REO, net (Note 5) (241) 83 (99) 425
Other 7 9 26 40
Total operations expense 579 800 2,224 2,832
Net income 571 741 1,413 2,167
Limited partners (99%) 566 734 1,399 2,146
General partners (1%) $ 5 $ 7 $ 14 $ 21