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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.