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Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Cash Flows From Operating Activities:      
Net income $ 100,569us-gaap_NetIncomeLoss $ 173,246us-gaap_NetIncomeLoss $ 131,769us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash used in operating activities:      
Amortization of premiums, discounts, and securities issuance costs, net (34,133)us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments (26,165)us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments (12,803)us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments
Depreciation and amortization of non-financial assets 513us-gaap_DepreciationAndAmortization 388us-gaap_DepreciationAndAmortization 1,873us-gaap_DepreciationAndAmortization
Purchases of held-for-sale loans (9,917,943)us-gaap_PaymentsToPurchaseLoansHeldForSale (7,766,203)us-gaap_PaymentsToPurchaseLoansHeldForSale (2,335,865)us-gaap_PaymentsToPurchaseLoansHeldForSale
Proceeds from sales of held-for-sale loans 8,126,249us-gaap_ProceedsFromSaleOfLoansHeldForSale 7,405,088us-gaap_ProceedsFromSaleOfLoansHeldForSale 1,696,433us-gaap_ProceedsFromSaleOfLoansHeldForSale
Principal payments on held-for-sale loans 30,233us-gaap_ProceedsFromCollectionOfLoansHeldForSale 19,030us-gaap_ProceedsFromCollectionOfLoansHeldForSale 9,904us-gaap_ProceedsFromCollectionOfLoansHeldForSale
Net settlements of derivatives (33,220)rwt_PaymentsForProceedsFromDerivativeInstrumentOperatingActivities 45,447rwt_PaymentsForProceedsFromDerivativeInstrumentOperatingActivities (22,653)rwt_PaymentsForProceedsFromDerivativeInstrumentOperatingActivities
Provision for loan losses 961us-gaap_ProvisionForLoanLeaseAndOtherLosses 4,737us-gaap_ProvisionForLoanLeaseAndOtherLosses 3,648us-gaap_ProvisionForLoanLeaseAndOtherLosses
Non-cash equity award compensation expense 11,271us-gaap_ShareBasedCompensation 13,547us-gaap_ShareBasedCompensation 9,842us-gaap_ShareBasedCompensation
Market valuation adjustments 298rwt_MarketValuationAdjustmentsNet (97,701)rwt_MarketValuationAdjustmentsNet (14,976)rwt_MarketValuationAdjustmentsNet
Realized gains, net (15,478)us-gaap_GainLossOnSaleOfInvestments (36,290)us-gaap_GainLossOnSaleOfInvestments (75,790)us-gaap_GainLossOnSaleOfInvestments
Net change in:      
Accrued interest receivable and other assets (57,685)us-gaap_IncreaseDecreaseInOperatingAssets 12,002us-gaap_IncreaseDecreaseInOperatingAssets 8,762us-gaap_IncreaseDecreaseInOperatingAssets
Accrued interest payable, deferred tax liabilities, and accrued expenses and other liabilities (2,768)us-gaap_IncreaseDecreaseInOperatingLiabilities 31,046us-gaap_IncreaseDecreaseInOperatingLiabilities 36,509us-gaap_IncreaseDecreaseInOperatingLiabilities
Net cash used in operating activities (1,791,133)us-gaap_NetCashProvidedByUsedInOperatingActivities (221,828)us-gaap_NetCashProvidedByUsedInOperatingActivities (563,347)us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash Flows From Investing Activities:      
Purchases of loans held-for-investment (87,454)us-gaap_PaymentsToAcquireLoansAndLeasesHeldForInvestment (65,771)us-gaap_PaymentsToAcquireLoansAndLeasesHeldForInvestment (156,344)us-gaap_PaymentsToAcquireLoansAndLeasesHeldForInvestment
Proceeds from sales of loans held-for-investment   440us-gaap_ProceedsFromSaleOfLoansHeldForInvestment [1] 357,742us-gaap_ProceedsFromSaleOfLoansHeldForInvestment [1]
Principal payments on loans held-for-investment 364,040us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment 523,900us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment 573,646us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment
Purchases of real estate securities (168,654)us-gaap_PaymentsToAcquireMarketableSecurities (488,598)us-gaap_PaymentsToAcquireMarketableSecurities (358,720)us-gaap_PaymentsToAcquireMarketableSecurities
Proceeds from sales of real estate securities 504,754us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities 220,535us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities 201,461us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities
Principal payments on real estate securities 174,241rwt_ProceedsFromPrincipalRepaymentsOnSecurities 163,951rwt_ProceedsFromPrincipalRepaymentsOnSecurities 218,447rwt_ProceedsFromPrincipalRepaymentsOnSecurities
Purchase of mortgage servicing rights (46,113)us-gaap_PaymentsToAcquireMortgageServicingRightsMSR (3,106)us-gaap_PaymentsToAcquireMortgageServicingRightsMSR  
Net change in restricted cash (230)us-gaap_IncreaseDecreaseInRestrictedCash (15)us-gaap_IncreaseDecreaseInRestrictedCash 200us-gaap_IncreaseDecreaseInRestrictedCash
Net cash provided by investing activities 740,584us-gaap_NetCashProvidedByUsedInInvestingActivities 351,336us-gaap_NetCashProvidedByUsedInInvestingActivities 836,432us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash Flows From Financing Activities:      
Proceeds from borrowings on short-term debt 8,320,982us-gaap_ProceedsFromShortTermDebt 6,661,464us-gaap_ProceedsFromShortTermDebt 1,458,341us-gaap_ProceedsFromShortTermDebt
Repayments on short-term debt (7,442,836)us-gaap_RepaymentsOfShortTermDebt (6,350,619)us-gaap_RepaymentsOfShortTermDebt (1,334,479)us-gaap_RepaymentsOfShortTermDebt
Proceeds from issuance of asset-backed securities     174,191us-gaap_ProceedsFromIssuanceOfSecuredDebt
Repayments on asset-backed securities issued (396,734)us-gaap_RepaymentsOfSecuredDebt (584,400)us-gaap_RepaymentsOfSecuredDebt (683,532)us-gaap_RepaymentsOfSecuredDebt
Deferred securities issuance costs (6,934)us-gaap_PaymentsOfDebtIssuanceCosts (9,184)us-gaap_PaymentsOfDebtIssuanceCosts (4,486)us-gaap_PaymentsOfDebtIssuanceCosts
Proceeds from issuance of long-term debt 770,042us-gaap_ProceedsFromIssuanceOfLongTermDebt 336,994us-gaap_ProceedsFromIssuanceOfLongTermDebt  
Repayments on long-term debt (685)us-gaap_RepaymentsOfLongTermDebt (27)us-gaap_RepaymentsOfLongTermDebt  
Net settlements of derivatives (3,352)us-gaap_PaymentsForProceedsFromDerivativeInstrumentFinancingActivities (7)us-gaap_PaymentsForProceedsFromDerivativeInstrumentFinancingActivities (23,702)us-gaap_PaymentsForProceedsFromDerivativeInstrumentFinancingActivities
Net proceeds from issuance of common stock 9,511us-gaap_ProceedsFromIssuanceOfCommonStock 8,667us-gaap_ProceedsFromIssuanceOfCommonStock 39,062us-gaap_ProceedsFromIssuanceOfCommonStock
Taxes paid on equity award distributions (7,643)us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation (5,861)us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation (2,298)us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation
Dividends paid (95,273)us-gaap_PaymentsOfDividends (94,414)us-gaap_PaymentsOfDividends (82,278)us-gaap_PaymentsOfDividends
Net cash provided by (used in) financing activities 1,147,078us-gaap_NetCashProvidedByUsedInFinancingActivities (37,387)us-gaap_NetCashProvidedByUsedInFinancingActivities (459,181)us-gaap_NetCashProvidedByUsedInFinancingActivities
Net increase (decrease) in cash and cash equivalents 96,529us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 92,121us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (186,096)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of period 173,201us-gaap_CashAndCashEquivalentsAtCarryingValue 81,080us-gaap_CashAndCashEquivalentsAtCarryingValue 267,176us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of period 269,730us-gaap_CashAndCashEquivalentsAtCarryingValue 173,201us-gaap_CashAndCashEquivalentsAtCarryingValue 81,080us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash paid during the period for:      
Interest 81,350us-gaap_InterestPaid 85,418us-gaap_InterestPaid 114,908us-gaap_InterestPaid
Taxes 1,407us-gaap_IncomeTaxesPaid 3,397us-gaap_IncomeTaxesPaid 312us-gaap_IncomeTaxesPaid
Supplemental Noncash Information:      
Real estate securities retained from loan securitizations 150,387us-gaap_TransfersOfFinancialAssetsAccountedForAsSaleInitialFairValueOfAssetsObtainedAsProceeds 392,932us-gaap_TransfersOfFinancialAssetsAccountedForAsSaleInitialFairValueOfAssetsObtainedAsProceeds 143,885us-gaap_TransfersOfFinancialAssetsAccountedForAsSaleInitialFairValueOfAssetsObtainedAsProceeds
Retention of mortgage servicing rights from loan securitizations and sales 48,000us-gaap_ServicingAssetAtFairValueAdditions 44,063us-gaap_ServicingAssetAtFairValueAdditions 7,329us-gaap_ServicingAssetAtFairValueAdditions
Transfers from loans held-for-sale to loans held-for-investment 633,707us-gaap_TransferOfPortfolioLoansAndLeasesToHeldForSale1    
Transfers from residential loans to real estate owned $ 6,844us-gaap_TransferOfOtherRealEstate $ 4,711us-gaap_TransferOfOtherRealEstate $ 8,970us-gaap_TransferOfOtherRealEstate
[1] For the year ended December 31, 2012, the proceeds from sales of loans included in investing activities related to residential loans that were reclassified from loans held-for-investment to loans held-for-sale during the fourth quarter of 2011.