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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
ASSETS    
Residential loans, held-for-sale and investment, at fair value $ 4,184,920 $ 3,888,051
Real estate securities, at fair value [1] 1,356,272 1,018,439
Mortgage servicing rights, at fair value [1] 62,928 118,526
Cash and cash equivalents [1] 257,611 212,844
Total earning assets [1] 5,861,731 5,237,860
Restricted cash [1] 26,258 8,623
Accrued interest receivable [1] 21,256 18,454
Derivative assets [1] 11,948 36,595
Other assets [1] 209,506 181,945
Total Assets [1] 6,130,699 5,483,477
Liabilities    
Short-term debt [1],[2] 1,238,196 791,539
Accrued interest payable [1] 18,836 9,608
Derivative liabilities [1] 65,238 66,329
Accrued expenses and other liabilities [1] 81,062 72,428
Asset-backed securities issued, at fair value [1] 944,288 773,462
Long-term debt, net [1] 2,574,439 2,620,683
Total liabilities [1] 4,922,059 4,334,049
Equity    
Common stock, par value $0.01 per share, 180,000,000 shares authorized; 77,122,687 and 76,834,663 issued and outstanding [1] 771 768
Additional paid-in capital [1] 1,681,968 1,676,486
Accumulated other comprehensive income [1] 82,316 71,853
Cumulative earnings [1] 1,259,408 1,149,935
Cumulative distributions to stockholders [1] (1,815,823) (1,749,614)
Total equity [1] 1,208,640 1,149,428
Total Liabilities and Equity [1] 6,130,699 5,483,477
Residential loans, held-for-sale, at fair value    
ASSETS    
Residential loans, held-for-sale and investment, at fair value [1] 925,681 835,399
Residential loans, held-for-investment, at fair value    
ASSETS    
Residential loans, held-for-sale and investment, at fair value [1] $ 3,259,239 $ 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 September 30, 2017 and December 31, 2016, assets of consolidated VIEs totaled $995,768 and $798,317, respectively. At September 30, 2017 and December 31, 2016, liabilities of consolidated VIEs totaled $945,873 and $773,980, respectively. See Note 4 for further discussion.
[2] Includes $250 million of convertible notes, which 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. See Note 11 for further discussion.