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Strategic Investments - Schedule of Components of Strategic Investments (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Mar. 31, 2024
 [1]
Investments, All Other Investments [Abstract]      
Strategic investments, equity method $ 54,963 $ 48,767  
Strategic investments, measurement alternative 26,446 25,896  
Strategic investments 3,460 3,460  
Total Strategic Investments $ 84,869 [1] $ 78,123 $ 78,123
[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, 2025 and December 31, 2024, assets of consolidated VIEs totaled $15,936,091 and $14,654,942, respectively. At March 31, 2025 and December 31, 2024, liabilities of consolidated VIEs totaled $14,825,826 and $13,620,239, respectively. See Note 16 for further discussion.