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Other Assets and Liabilities - Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020
--- | --- | ---
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |  |  |
Margin payable |  | $ 84,306 | $ 14,728
Accrued interest payable |  | 32,167 | 34,858
Accrued compensation |  | 27,941 | 24,393
Accrued income taxes payable |  | 17,174 | 5,614
Payable to minority partner |  | 16,222 | 16,941
Operating lease liabilities |  | 15,885 | 16,687
Current accounts payable |  | 15,712 | 6,455
Guarantee obligations |  | 9,238 | 10,039
Residential loan and MSR repurchase reserve |  | 8,731 | 8,631
Bridge loan holdbacks |  | 5,443 | 5,708
Accrued operating expenses |  | 4,222 | 5,509
Deferred consideration |  | 0 | 14,579
Other |  | 7,233 | 15,198
Total Accrued Expenses and Other Liabilities | [1] | $ 244,274 | $ 179,340
[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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