CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2025	[1]	Dec. 31, 2024	[1]	Dec. 31, 2023
Statement of Cash Flows [Abstract]
Cash and cash equivalents	$ 255,664		$ 245,165		$ 293,000
Restricted cash	$ 193,446		$ 67,762		$ 76,000

[1] Our consolidated balance sheets include assets of 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 December 31, 2025 and 2024, assets of consolidated VIEs totaled $18,927,094 and $14,654,942, respectively. At December 31, 2025 and 2024, liabilities of consolidated VIEs totaled $17,850,175 and $13,620,239, respectively. See Note 15 for further discussion.