CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
ASSETS
Real estate securities, at fair value	[1]	$ 243,346	$ 240,475
Home equity investments, at fair value	[1]	416,783	403,462
Other investments	[1]	381,690	390,938
Cash and cash equivalents	[1]	404,449	258,894
Restricted cash	[1]	86,037	70,470
Goodwill	[1]	23,373	23,373
Intangible assets	[1]	37,784	40,892
Derivative assets	[1]	11,497	20,830
Other assets	[1]	232,221	211,240
Total Assets	[1]	13,121,286	13,030,899
Liabilities
Short-term debt, net	[1]	1,616,452	2,029,679
Derivative liabilities	[1]	10,736	16,855
Accrued expenses and other liabilities	[1]	176,271	180,203
Asset-backed securities issued (includes $7,968,135 and $7,424,132 at fair value), net	[1]	8,447,119	7,986,752
Long-term debt, net	[1]	1,733,028	1,733,425
Total liabilities	[1]	11,983,606	11,946,914
Commitments and Contingencies (see Note 17)	[1]
Equity
Preferred stock, par value $0.01 per share, 2,800,000 shares authorized; 2,800,000 and zero issued and outstanding	[1]	66,923	0
Common stock, par value $0.01 per share, 395,000,000 shares authorized; 113,864,456 and 113,484,675 issued and outstanding	[1]	1,139	1,135
Additional paid-in capital	[1]	2,355,139	2,349,845
Accumulated other comprehensive loss	[1]	(63,036)	(68,868)
Cumulative earnings	[1]	1,156,571	1,153,370
Cumulative distributions to stockholders	[1]	(2,379,056)	(2,351,497)
Total equity	[1]	1,137,680	1,083,985
Total Liabilities and Equity	[1]	13,121,286	13,030,899
Residential loans, held-for-sale, at fair value
ASSETS
Fair value of loans	[1]	26,975	780,781
Residential loans, held-for-investment, at fair value
ASSETS
Fair value of loans	[1]	5,465,883	4,832,407
Business purpose loans, held-for-sale, at fair value
ASSETS
Fair value of loans	[1]	371,385	364,073
Business purpose loans, held-for-investment, at fair value
ASSETS
Fair value of loans	[1]	4,993,264	4,968,513
Consolidated Agency multifamily loans, at fair value
ASSETS
Fair value of loans	[1]	$ 426,599	$ 424,551

[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 March 31, 2023 and December 31, 2022, assets of consolidated VIEs totaled $9,836,956 and $9,257,291, respectively. At March 31, 2023 and December 31, 2022, liabilities of consolidated VIEs totaled $8,729,585 and $8,270,276, respectively. See Note 4 for further discussion.