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Other Investments - Summary of Other Investments (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019
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Net Investment Income [Line Items] |  |  |
Servicing asset, fair value |  | $ 242,059 | $ 151,582
Other Investments | [1] | 384,628 | 358,130
Residential Loans |  |  |
Net Investment Income [Line Items] |  |  |
Servicing asset, fair value |  | 258,621 | 169,204
Excess MSRs |  |  |
Net Investment Income [Line Items] |  |  |
Servicing asset, fair value |  | 35,070 | 31,814
Shared home appreciation options |  |  |
Net Investment Income [Line Items] |  |  |
Shared home appreciation options |  |  | 45,085
Mortgage servicing rights |  |  |
Net Investment Income [Line Items] |  |  |
Servicing asset, fair value |  | 14,878 | 42,224
Investment in multifamily loan fund |  |  |
Net Investment Income [Line Items] |  |  |
Shared home appreciation options |  | (323) | 39,802
Other |  |  |
Net Investment Income [Line Items] |  |  |
Shared home appreciation options |  | $ 34,624 | $ 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 September 30, 2020 and December 31, 2019, assets of consolidated VIEs totaled $8,197,095 and $11,931,869, respectively. At September 30, 2020 and December 31, 2019, liabilities of consolidated VIEs totaled $7,238,047 and $10,717,072, respectively. See Note 4 for further discussion.

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