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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
ASSETS    
Real estate securities, at fair value [1] $ 1,452,494 $ 1,476,510
Other investments [1] 438,518 63,598
Cash and cash equivalents [1] 175,764 144,663
Restricted cash [1] 29,313 2,144
Accrued interest receivable [1] 47,105 27,013
Derivative assets [1] 35,789 15,718
Other assets [1] 217,825 194,966
Total Assets [1] 11,937,406 7,039,822
Liabilities    
Short-term debt [1],[2] 2,400,279 1,938,682
Accrued interest payable [1] 42,528 18,435
Derivative liabilities [1] 84,855 63,081
Accrued expenses and other liabilities [1] 78,719 67,729
Asset-backed securities issued, at fair value [1] 5,410,073 1,164,585
Long-term debt, net [1] 2,572,158 2,575,023
Total liabilities [1] 10,588,612 5,827,535
Commitments and Contingencies (see Note 16) [1]
Equity    
Common stock, par value $0.01 per share, 180,000,000 shares authorized; 84,884,344 and 76,599,972 issued and outstanding [1] 849 766
Additional paid-in capital [1] 1,811,422 1,673,845
Accumulated other comprehensive income [1] 61,297 85,248
Cumulative earnings [1] 1,409,941 1,290,341
Cumulative distributions to stockholders [1] (1,934,715) (1,837,913)
Total equity [1] 1,348,794 1,212,287
Total Liabilities and Equity [1] 11,937,406 7,039,822
Residential Loans Held For Sale    
ASSETS    
Loan market valuation adjustment [1] 1,048,801 1,427,945
Residential Loans Held For Investment    
ASSETS    
Loan market valuation adjustment [1] 6,205,941 3,687,265
Business purpose residential loans    
ASSETS    
Loan market valuation adjustment [1] 141,258 0
Multifamily loans    
ASSETS    
Loan market valuation adjustment [1] $ 2,144,598 $ 0
[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 December 31, 2018 and December 31, 2017, assets of consolidated VIEs totaled $6,331,191 and $1,259,774, respectively. At December 31, 2018 and December 31, 2017, liabilities of consolidated VIEs totaled $5,709,807 and $1,167,157, respectively. See Note 4 for further discussion.
[2] Includes $201 million and $250 million of convertible notes at December 31, 2018 and 2017, respectively, 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 each of the dates presented. See Note 13 for further discussion.