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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2017
Dec. 31, 2016
ASSETS    
Residential loans, held-for-sale and investment, at fair value $ 3,905,291 $ 3,888,051
Real estate securities, at fair value [1] 1,218,503 1,018,439
Mortgage servicing rights, at fair value [1] 63,770 118,526
Cash and cash equivalents [1] 217,218 212,844
Total earning assets [1] 5,404,782 5,237,860
Restricted cash [1] 2,006 8,623
Accrued interest receivable [1] 20,101 18,454
Derivative assets [1] 12,264 36,595
Other assets [1] 216,329 181,945
Total Assets [1] 5,655,482 5,483,477
Liabilities    
Short-term debt [1],[2] 1,294,807 791,539
Accrued interest payable [1] 9,939 9,608
Derivative liabilities [1] 69,175 66,329
Accrued expenses and other liabilities [1] 73,185 72,428
Asset-backed securities issued, at fair value [1] 692,606 773,462
Long-term debt, net [1] 2,336,346 2,620,683
Total liabilities [1] 4,476,058 4,334,049
Equity    
Common stock, par value $0.01 per share, 180,000,000 shares authorized; 77,116,875 and 76,834,663 issued and outstanding [1] 771 768
Additional paid-in capital [1] 1,679,475 1,676,486
Accumulated other comprehensive income [1] 69,676 71,853
Cumulative earnings [1] 1,223,228 1,149,935
Cumulative distributions to stockholders [1] (1,793,726) (1,749,614)
Total equity [1] 1,179,424 1,149,428
Total Liabilities and Equity [1] 5,655,482 5,483,477
Residential loans, held-for-sale, at fair value    
ASSETS    
Residential loans, held-for-sale and investment, at fair value [1] 837,371 835,399
Residential loans, held-for-investment, at fair value    
ASSETS    
Residential loans, held-for-sale and investment, at fair value [1] $ 3,067,920 $ 3,052,652
[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, 2017 and December 31, 2016, assets of consolidated VIEs totaled $713,404 and $798,317, respectively. At June 30, 2017 and December 31, 2016, liabilities of consolidated VIEs totaled $693,137 and $773,980, respectively. See Note 4 for further discussion.
[2] During the second quarter of 2017, our convertible notes were reclassified from Long-term debt, net to Short-term debt as the maturity of the notes was less than one year as of April 2017.