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Principles of Consolidation - Schedule of Redwood's Interest in Third-Party Variable Interest Entity's (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022
--- | --- | ---
Variable Interest Entity [Line Items] |  |  |
Real estate securities | [1] | $ 129,445 | $ 240,475
Other assets | Variable Interest Entity, Not Primary Beneficiary |  |  |
Variable Interest Entity [Line Items] |  |  |
Real estate securities |  | 29,103 | 144,468
Other assets | Senior | Variable Interest Entity, Not Primary Beneficiary |  |  |
Variable Interest Entity [Line Items] |  |  |
Real estate securities |  | 8,397 | 145
Other assets | Subordinate | Variable Interest Entity, Not Primary Beneficiary |  |  |
Variable Interest Entity [Line Items] |  |  |
Real estate securities |  | 15,116 | 137,241
Other assets | Total Mortgage-Backed Securities | Variable Interest Entity, Not Primary Beneficiary |  |  |
Variable Interest Entity [Line Items] |  |  |
Real estate securities |  | 23,513 | 137,386
Other assets | Excess MSR | Variable Interest Entity, Not Primary Beneficiary |  |  |
Variable Interest Entity [Line Items] |  |  |
Real estate securities |  | $ 5,590 | $ 7,082
[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, 2023 and December 31, 2022, assets of consolidated VIEs totaled $9,639,117 and $9,257,291, respectively. At September 30, 2023 and December 31, 2022, liabilities of consolidated VIEs totaled $8,635,696 and $8,270,276, respectively. See Note 4 for further discussion.

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