Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012		Dec. 31, 2011
ASSETS
Residential loans	$ 2,835,470		$ 4,194,885
Commercial loans (includes $0 and $12,129 at fair value)	313,010		169,855
Real estate securities, at fair value	1,108,753		981,837
Cash and cash equivalents	81,080		267,176
Total earning assets	4,338,313		5,613,753
Restricted cash	383		14,987
Accrued interest receivable	12,442		15,840
Derivative assets	2,972		2,373
Deferred securities issuance costs	9,293		8,083
Other assets	80,695		88,262
Total Assets	4,444,098	[1]	5,743,298	[1]
Liabilities
Short-term debt	551,918		428,056
Accrued interest payable	4,592		8,134
Derivative liabilities	51,081		127,564
Accrued expenses and other liabilities	26,902		8,105
Long-term debt	139,500		139,500
Total liabilities	3,303,934	[1]	4,850,714	[1]
Equity
Common stock, par value $0.01 per share, 165,000,000 shares authorized; 81,716,416 and 78,555,908 issued and outstanding	817		786
Additional paid-in capital	1,744,554		1,697,979
Accumulated other comprehensive income (loss)	138,332		(13,151)
Cumulative earnings	633,052		501,283
Cumulative distributions to stockholders	(1,376,591)		(1,294,313)
Total equity	1,140,164		892,584
Total Liabilities and Equity	4,444,098		5,743,298
Asset-backed Securities
Liabilities
Asset-backed securities issued (includes $0 and $209,381 at fair value)	2,529,941		4,139,355
Residential Loans Held For Sale
ASSETS
Residential loans	562,658		395,237
Residential Loans Held for Investment
ASSETS
Residential loans	$ 2,272,812		$ 3,799,648

[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 the primary beneficiary (Redwood Trust, Inc.). At December 31, 2012 and 2011, assets of consolidated VIEs totaled $2,901,214 and $4,408,350, respectively, and liabilities of consolidated VIEs totaled $2,532,916 and $4,209,124 respectively. See Note 4 for further discussion.