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Basis of Presentation - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Jul. 01, 2022 | Sep. 30, 2022 | Dec. 31, 2021
--- | --- | --- | ---
Allocated to: |  |  |  |
Goodwill | [1] |  | $ 23,373 | $ 0
Riverbend Funding, LLC |  |  |  |
Purchase price: |  |  |  |
Cash |  | $ 44,126 |  |
Provisional consideration payable |  | 477 |  |
Contingent consideration, at fair value |  | 0 |  |
Total consideration |  | 44,603 |  |
Allocated to: |  |  |  |
Business purpose loans, at fair value |  | 59,748 |  |
Other investments |  | 2,443 |  |
Cash and cash equivalents |  | 3,490 |  |
Other assets |  | 13,306 |  |
Goodwill |  | 23,373 | $ 23,373 | $ 0
Intangible assets |  | 13,300 |  |
Total assets acquired |  | 115,660 |  |
Short-term debt, net |  | 67,423 |  |
Accrued expenses and other liabilities |  | 3,634 |  |
Total liabilities assumed |  | 71,057 |  |
Total net assets acquired |  | $ 44,603 |  |
[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, 2022 and December 31, 2021, assets of consolidated VIEs totaled $9,449,163 and $10,661,081, respectively. At September 30, 2022 and December 31, 2021, liabilities of consolidated VIEs totaled $8,448,479 and $9,619,347, respectively. See Note 4 for further discussion.

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