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Other Investments - Summary of Other Investments (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019
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Net Investment Income [Line Items] |  |  |
Servicing asset, fair value |  | $ 249,705 | $ 151,582
Other Investments | [1] | 429,840 | 358,130
Residential Loans |  |  |
Net Investment Income [Line Items] |  |  |
Servicing asset, fair value |  | 266,948 | 169,204
Excess MSRs |  |  |
Net Investment Income [Line Items] |  |  |
Servicing asset, fair value |  | 36,197 | 31,814
Shared home appreciation options |  |  |
Net Investment Income [Line Items] |  |  |
Shared home appreciation options |  | 40,851 | 45,085
Mortgage servicing rights |  |  |
Net Investment Income [Line Items] |  |  |
Servicing asset, fair value |  | 19,661 | 42,224
Investment in multifamily loan fund |  |  |
Net Investment Income [Line Items] |  |  |
Shared home appreciation options |  | 30,370 | 39,802
Other |  |  |
Net Investment Income [Line Items] |  |  |
Shared home appreciation options |  | $ 35,813 | $ 30,001
[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, 2020 and December 31, 2019, assets of consolidated VIEs totaled $7,984,618 and $11,931,869, respectively. At June 30, 2020 and December 31, 2019, liabilities of consolidated VIEs totaled $7,140,221 and $10,717,072, respectively. See Note 4 for further discussion.

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- Definition Fair value of an asset representing net future revenue from contractually specified servicing fees, late charges, and other ancillary revenues, in excess of future costs related to servicing arrangements. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 45 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6469459&loc=d3e122501-111745 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6469459&loc=d3e122492-111745 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 3 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122625-111746 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 45 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6469459&loc=d3e122501-111745 + Details
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