Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Jun. 30, 2013		Dec. 31, 2012
ASSETS
Residential loans	$ 3,219,276		$ 2,835,470
Commercial loans	494,823		313,010
Real estate securities, at fair value	1,314,305		1,108,753
Mortgage servicing rights	43,098		5,315
Cash and cash equivalents	207,694		81,080
Total earning assets	5,279,196		4,343,628
Restricted cash	405		383
Accrued interest receivable	16,111		12,442
Derivative assets	43,341		2,972
Deferred securities issuance costs	15,976		9,293
Other assets	80,383		75,380
Total Assets	5,435,412	[1]	4,444,098	[1]
Liabilities
Short-term debt	1,445,961		551,918
Accrued interest payable	8,682		4,592
Derivative liabilities	29,571		51,081
Accrued expenses and other liabilities	83,998		26,902
Long-term debt	443,591		139,500
Total liabilities	4,226,099	[1]	3,303,934	[1]
Equity
Common stock, par value $0.01 per share, 180,000,000 and 165,000,000 shares authorized; 82,331,736 and 81,716,416 issued and outstanding	823		817
Additional paid-in capital	1,754,658		1,744,554
Accumulated other comprehensive income	118,283		138,332
Cumulative earnings	759,235		633,052
Cumulative distributions to stockholders	(1,423,686)		(1,376,591)
Total equity	1,209,313		1,140,164
Total Liabilities and Equity	5,435,412		4,444,098
Asset-backed Securities
Liabilities
Asset-backed securities issued	2,214,296		2,529,941
Residential Loans Held For Sale
ASSETS
Residential loans	1,221,098		562,658
Residential Loans Held for Investment
ASSETS
Residential loans	1,998,178		2,272,812
Commercial Loans Held For Sale
ASSETS
Commercial loans	149,470		8,500
Commercial Loans Held For Investment
ASSETS
Commercial loans	$ 345,353		$ 304,510

[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 June 30, 2013 and December 31, 2012, assets of consolidated VIEs totaled $2,573,802 and $2,901,214, respectively, and liabilities of consolidated VIEs totaled $2,216,586 and $2,532,916, respectively. See Note 4 for further discussion.