CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands		Dec. 31, 2024	Dec. 31, 2023
ABS issued, net, At fair value		$ 12,879,530	$ 9,151,263
Preferred stock, par value (in dollars per share)		$ 0.01	$ 0.01
Preferred stock, authorized (in shares)		2,990,000	2,990,000
Preferred stock, issued (in shares)		2,800,000	2,800,000
Preferred stock, outstanding (in shares)		2,800,000	2,800,000
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common stock, authorized (in shares)		392,010,000	392,010,000
Common stock, issued (in shares)		132,519,579	131,485,661
Common stock, outstanding (in shares)		132,519,579	131,485,661
Assets	[1]	$ 18,258,344	$ 14,504,327
Liabilities	[1]	17,070,481	13,301,634
Variable Interest Entity, Primary Beneficiary
Assets		14,654,942	10,988,885
Liabilities		$ 13,620,239	$ 10,096,308

[1] Our consolidated balance sheets include assets of 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 December 31, 2024 and 2023, assets of consolidated VIEs totaled $14,654,942 and $10,988,885, respectively. At December 31, 2024 and 2023, liabilities of consolidated VIEs totaled $13,620,239 and $10,096,308, respectively. See Note 15 for further discussion.