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Principles of Consolidation - Schedule of Unconsolidated VIEs Sponsored by Redwood (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
On-balance sheet assets, at fair value:    
Subordinate securities, classified as AFS $ 284,372 $ 211,474
Mortgage servicing rights [1] 282,256 297,683
Commitment To Fund Residential Bridge Loan    
On-balance sheet assets, at fair value:    
Funding commitment 35,000  
Payments for other commitments 10,000  
Additional funding commitments 25,000  
Variable Interest Entity, Not Primary Beneficiary    
On-balance sheet assets, at fair value:    
Strategic investments, equity method 10,263 0
Funding commitment 10,000 0
Maximum loss exposure 347,018 140,588
Variable Interest Entity, Not Primary Beneficiary | Subordinate securities, classified as AFS    
On-balance sheet assets, at fair value:    
Subordinate securities, classified as AFS 280,395 91,221
Interest-only, senior and subordinate securities, classified as trading | Variable Interest Entity, Not Primary Beneficiary    
On-balance sheet assets, at fair value:    
Interest-only, senior and subordinate securities, classified as trading 34,163 36,811
Mortgage servicing rights | Variable Interest Entity, Not Primary Beneficiary    
On-balance sheet assets, at fair value:    
Mortgage servicing rights $ 12,197 $ 12,556
[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, 2025 and December 31, 2024, assets of consolidated VIEs totaled $18,284,133 and $14,654,942, respectively. At September 30, 2025 and December 31, 2024, liabilities of consolidated VIEs totaled $17,164,811 and $13,620,239, respectively. See Note 16 for further discussion.