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CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
ABS issued $ 14,127,674 $ 12,879,530
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, authorized (in shares) 2,990,000 2,990,000
Preferred stock, issued (in shares) 2,800,000 2,800,000
Preferred stock, outstanding (in shares) 2,800,000 2,800,000
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, authorized (in shares) 392,010,000 392,010,000
Common stock, issued (in shares) 133,005,314 132,519,579
Common stock, outstanding (in shares) 133,005,314 132,519,579
Total Assets [1] $ 19,871,775 $ 18,258,344
Total Liabilities [1] 18,688,281 17,070,481
VIEs    
Total Assets 15,936,091 14,654,942
Total Liabilities $ 14,825,826 $ 13,620,239
[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 March 31, 2025 and December 31, 2024, assets of consolidated VIEs totaled $15,936,091 and $14,654,942, respectively. At March 31, 2025 and December 31, 2024, liabilities of consolidated VIEs totaled $14,825,826 and $13,620,239, respectively. See Note 16 for further discussion.