CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Sep. 30, 2019	Dec. 31, 2018
ASSETS
Real estate securities, at fair value	[1]	$ 1,285,426	$ 1,452,494
Other investments	[1]	347,707	438,518
Cash and cash equivalents	[1]	394,628	175,764
Restricted cash	[1]	111,518	29,313
Goodwill and intangible assets	[1]	49,121	0
Accrued interest receivable	[1]	57,464	47,105
Derivative assets	[1]	43,649	35,789
Other assets	[1]	377,310	217,825
Total Assets	[1]	15,476,283	11,937,406
Liabilities
Short-term debt, net	[1],[2]	1,980,817	2,400,279
Accrued interest payable	[1]	46,881	42,528
Derivative liabilities	[1]	234,011	84,855
Accrued expenses and other liabilities	[1]	129,742	78,719
Asset-backed securities issued, at fair value	[1]	8,346,051	5,410,073
Long-term debt, net	[1]	2,953,722	2,572,158
Total liabilities	[1]	13,691,224	10,588,612
Commitments and Contingencies (see Note 16)	[1]
Equity
Common stock, par value $0.01 per share, 270,000,000 and 180,000,000 shares authorized; 112,101,731 and 84,884,344 issued and outstanding	[1]	1,121	849
Additional paid-in capital	[1]	2,244,834	1,811,422
Accumulated other comprehensive income	[1]	38,124	61,297
Cumulative earnings	[1]	1,529,981	1,409,941
Cumulative distributions to stockholders	[1]	(2,029,001)	(1,934,715)
Total equity	[1]	1,785,059	1,348,794
Total Liabilities and Equity	[1]	15,476,283	11,937,406
Residential loans, held-for-sale, at fair value
ASSETS
Loans, at fair value	[1]	925,887	1,048,801
Residential loans, held-for-investment, at fair value
ASSETS
Loans, at fair value	[1]	7,755,916	6,205,941
Business purpose residential loans, at fair value
ASSETS
Loans, at fair value	[1]	336,035	141,258
Multifamily loans, held-for-investment, at fair value
ASSETS
Loans, at fair value	[1]	$ 3,791,622	$ 2,144,598

[1] Our consolidated balance sheets include assets of consolidated variable interest entities (“VIEs”) that can only be used to settle obligations of these VIEs and liabilities of consolidated VIEs for which creditors do not have recourse to Redwood Trust, Inc. or its affiliates. At September 30, 2019 and December 31, 2018, assets of consolidated VIEs totaled $9,596,537 and $6,331,191, respectively. At September 30, 2019 and December 31, 2018, liabilities of consolidated VIEs totaled $8,582,595 and $5,709,807, respectively. See Note 4 for further discussion.

[2] Includes $201 million of convertible notes, which were reclassified from Long-term debt, net to Short-term debt as the maturity of the notes was less than one year as of November 15, 2018. See Note 13 for further discussion.