CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands		Jun. 30, 2025	Dec. 31, 2024
ABS issued		$ 15,714,392	$ 12,879,530
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)		131,679,516	132,519,579
Common stock, outstanding (in shares)		131,679,516	132,519,579
Total Assets	[1]	$ 21,333,020	$ 18,258,344
Total Liabilities	[1]	20,279,557	17,070,481
VIEs
Total Assets		17,484,443	14,654,942
Total Liabilities		$ 16,386,516	$ 13,620,239

[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 June 30, 2025 and December 31, 2024, assets of consolidated VIEs totaled $17,484,443 and $14,654,942, respectively. At June 30, 2025 and December 31, 2024, liabilities of consolidated VIEs totaled $16,386,516 and $13,620,239, respectively. See Note 16 for further discussion.