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Other Assets and Liabilities - Components of Other Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020
--- | --- | ---
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |  |  |
Accrued interest receivable |  | $ 40,097 | $ 39,445
Investment receivable |  | 37,102 | 43,176
Margin receivable |  | 16,283 | 4,758
REO |  | 15,829 | 8,413
Operating lease right-of-use assets |  | 14,227 | 15,012
Fixed assets and leasehold improvements |  | 5,153 | 4,203
FHLBC stock |  | 5,000 | 5,000
Pledged collateral |  | 0 | 1,177
Other |  | 8,047 | 9,404
Total Other Assets | [1] | 141,738 | $ 130,588
Fixed assets |  | 12,000 |
Accumulated depreciation |  | $ 7,000 |
[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, 2021 and December 31, 2020, assets of consolidated VIEs totaled $7,724,203 and $8,141,069, respectively. At March 31, 2021 and December 31, 2020, liabilities of consolidated VIEs totaled $6,704,943 and $7,148,414, respectively. See Note 4 for further discussion.

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- Definition Federal Home Loan Bank (FHLB) stock represents an equity interest in a FHLB. It does not have a readily determinable fair value because its ownership is restricted and it lacks a market (liquidity). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 325 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=75031641&loc=d3e63345-112809 + Details
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