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Real Estate Securities - Fair Values of Real Estate Securities (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]    
Trading $ 69,323 $ 108,329
Available-for-sale 97,496 132,146
Total Real Estate Securities [1] $ 166,819 $ 240,475
[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, 2023 and December 31, 2022, assets of consolidated VIEs totaled $9,492,706 and $9,257,291, respectively. At June 30, 2023 and December 31, 2022, liabilities of consolidated VIEs totaled $8,439,522 and $8,270,276, respectively. See Note 4 for further discussion.