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Residential Consumer Loans - Schedule of Classifications and Carrying Value of Residential Consumer Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2024 | Dec. 31, 2023
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Held-for-sale at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans | [1] | $ 1,362,349 | $ 911,192
Sequoia | Held-for-investment at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 8,476,004 | 4,780,203
Freddie Mac SLST | Held-for-investment at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 1,318,806 | 1,359,242
Servicer advance investments, at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 11,157,159 | 7,050,637
Servicer advance investments, at fair value | Held-for-sale at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 1,362,349 | 911,192
Servicer advance investments, at fair value | Held-for-investment at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 9,794,810 | 6,139,445
Servicer advance investments, at fair value | Sequoia |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 8,476,004 | 4,780,203
Servicer advance investments, at fair value | Sequoia | Held-for-sale at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 0 | 0
Servicer advance investments, at fair value | Sequoia | Held-for-investment at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 8,476,004 | 4,780,203
Servicer advance investments, at fair value | Freddie Mac SLST |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 1,318,806 | 1,359,242
Servicer advance investments, at fair value | Freddie Mac SLST | Held-for-sale at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 0 | 0
Servicer advance investments, at fair value | Freddie Mac SLST | Held-for-investment at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 1,318,806 | 1,359,242
Servicer advance investments, at fair value | Redwood |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 1,362,349 | 911,192
Servicer advance investments, at fair value | Redwood | Held-for-sale at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 1,362,349 | 911,192
Servicer advance investments, at fair value | Redwood | Held-for-investment at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | $ 0 | $ 0
[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, 2024 and December 31, 2023, assets of consolidated VIEs totaled $14,312,672 and $10,988,885, respectively. At September 30, 2024 and December 31, 2023, liabilities of consolidated VIEs totaled $13,354,497 and $10,096,308, respectively. See Note 15 for further discussion.

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