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Other Investments - Schedule of Other Investments (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023
--- | --- | ---
Net Investment Income [Line Items] |  |  |
Total Other Investments | [1] | $ 337,345 | $ 343,930
Mortgage servicing rights |  |  |
Net Investment Income [Line Items] |  |  |
Servicing asset, fair value |  | 27,417 | 24,877
Other |  |  |
Net Investment Income [Line Items] |  |  |
Other |  | 165 | 234
Servicer advance investments |  |  |
Net Investment Income [Line Items] |  |  |
Servicing asset, fair value |  | 216,033 | 225,345
Strategic investments |  |  |
Net Investment Income [Line Items] |  |  |
Servicing asset, fair value |  | 57,608 | 56,107
Excess MSRs |  |  |
Net Investment Income [Line Items] |  |  |
Servicing asset, fair value |  | $ 36,122 | $ 37,367
[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 March 31, 2024 and December 31, 2023, assets of consolidated VIEs totaled $11,850,461 and $10,988,885, respectively. At March 31, 2024 and December 31, 2023, liabilities of consolidated VIEs totaled $10,921,862 and $10,096,308, respectively. See Note 4 for further discussion.

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