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Other Investments - Summary of Other Investments (Details) - USD ($) $ in Thousands		Sep. 30, 2021	Dec. 31, 2020
Net Investment Income [Line Items]
Servicing asset, fair value		$ 159,408	$ 217,656
Other Investments	[1]	422,366	348,175
Residential Loans
Net Investment Income [Line Items]
Servicing asset, fair value		170,062	231,489
HEIs
Net Investment Income [Line Items]
Servicing asset, fair value		167,856	42,440
Strategic Investments
Net Investment Income [Line Items]
Servicing asset, fair value		31,108	4,449
Excess MSRs
Net Investment Income [Line Items]
Servicing asset, fair value		29,185	34,418
Mortgage servicing rights
Net Investment Income [Line Items]
Servicing asset, fair value		12,389	8,815
Other
Net Investment Income [Line Items]
Loans held for investment		$ 11,766	$ 26,564
[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, 2021 and December 31, 2020, assets of consolidated VIEs totaled $9,358,317 and $8,141,069, respectively. At September 30, 2021 and December 31, 2020, liabilities of consolidated VIEs totaled $8,391,761 and $7,348,713, respectively. See Note 4 for further discussion.

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