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Other Investments - Schedule of Other Investments (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Net Investment Income [Line Items]    
Total Other Investments [1] $ 349,906 $ 343,930
MSRs    
Net Investment Income [Line Items]    
Servicing asset, fair value 28,653 24,877
Other    
Net Investment Income [Line Items]    
Other 106 234
Servicer advance investments    
Net Investment Income [Line Items]    
Servicing asset, fair value 227,363 225,345
Strategic investments    
Net Investment Income [Line Items]    
Servicing asset, fair value 59,030 56,107
Excess MSRs    
Net Investment Income [Line Items]    
Servicing asset, fair value $ 34,754 $ 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 June 30, 2024 and December 31, 2023, assets of consolidated VIEs totaled $12,844,193 and $10,988,885, respectively. At June 30, 2024 and December 31, 2023, liabilities of consolidated VIEs totaled $11,866,962 and $10,096,308, respectively. See Note 15 for further discussion.