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Other Investments - Summary of Other Investments (Details) - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
Net Investment Income [Line Items]    
Servicing asset, fair value $ 171,818 $ 217,656
Other Investments [1] 308,732 348,175
Residential Loans    
Net Investment Income [Line Items]    
Servicing asset, fair value 184,551 231,489
Excess MSRs    
Net Investment Income [Line Items]    
Servicing asset, fair value 29,988 34,418
Shared home appreciation options    
Net Investment Income [Line Items]    
Loans held for investment   42,440
Mortgage servicing rights    
Net Investment Income [Line Items]    
Servicing asset, fair value 8,721 8,815
Other    
Net Investment Income [Line Items]    
Loans held for investment $ 41,153 $ 31,013
[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, 2021 and December 31, 2020, assets of consolidated VIEs totaled $8,616,435 and $8,141,069, respectively. At June 30, 2021 and December 31, 2020, liabilities of consolidated VIEs totaled $7,562,367 and $7,148,414, respectively. See Note 4 for further discussion.