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Principles of Consolidation - Schedule of Redwood's Interest in Third-Party Variable Interest Entity's (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Variable Interest Entity [Line Items]    
Real estate securities [1] $ 127,797 $ 240,475
Real estate securities | Variable Interest Entity, Not Primary Beneficiary    
Variable Interest Entity [Line Items]    
Real estate securities 22,389 144,468
Real estate securities | Senior | Variable Interest Entity, Not Primary Beneficiary    
Variable Interest Entity [Line Items]    
Real estate securities 4,419 145
Real estate securities | Subordinate | Variable Interest Entity, Not Primary Beneficiary    
Variable Interest Entity [Line Items]    
Real estate securities 12,746 137,241
Real estate securities | Total Mortgage-Backed Securities | Variable Interest Entity, Not Primary Beneficiary    
Variable Interest Entity [Line Items]    
Real estate securities 17,165 137,386
Real estate securities | Excess MSR | Variable Interest Entity, Not Primary Beneficiary    
Variable Interest Entity [Line Items]    
Real estate securities $ 5,224 $ 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 December 31, 2023 and 2022, assets of consolidated VIEs totaled $10,988,885 and $9,257,291, respectively. At December 31, 2023 and 2022, liabilities of consolidated VIEs totaled $10,096,308 and $8,270,276, respectively. See Note 4 for further discussion.