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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.