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Summary of Significant Accounting Policies - Effect of ASU 2014-13 on Balance Sheet (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014
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New Accounting Pronouncements or Change in Accounting Principle [Line Items] |  |  |  |
Residential loans | $ 3,399,755,000 us-gaap_LoansAndLeasesReceivableNetReportedAmountConsumer |  | $ 3,398,573,000 us-gaap_LoansAndLeasesReceivableNetReportedAmountConsumer |
Other assets | 182,992,000 us-gaap_OtherAssets | [1] | 113,896,000 us-gaap_OtherAssets | [1]
Total Assets | 5,816,019,000 us-gaap_Assets | [1] | 5,918,966,000 us-gaap_Assets | [1]
ABS issued principal | 1,353,021,000 us-gaap_SecuredDebt | [1],[2] | 1,545,119,000 us-gaap_SecuredDebt | [1],[2]
Total liabilities | 4,558,809,000 us-gaap_Liabilities | [1] | 4,662,825,000 us-gaap_Liabilities | [1]
Residential Loans Held for Investment |  |  |  |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |  |  |  |
Loan Principal | 1,415,017,000 us-gaap_PrincipalAmountOutstandingOnLoansManagedAndSecuritized / us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis = rwt_ResidentialLoansHeldForInvestmentMember |  | 1,483,213,000 us-gaap_PrincipalAmountOutstandingOnLoansManagedAndSecuritized / us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis = rwt_ResidentialLoansHeldForInvestmentMember |
Residential loans | 1,304,426,000 us-gaap_LoansAndLeasesReceivableNetReportedAmountConsumer / us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis = rwt_ResidentialLoansHeldForInvestmentMember |  | 1,474,386,000 us-gaap_LoansAndLeasesReceivableNetReportedAmountConsumer / us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis = rwt_ResidentialLoansHeldForInvestmentMember |
Variable Interest Entity, Primary Beneficiary |  |  |  |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |  |  |  |
Loan Principal |  |  | 1,373,000,000 us-gaap_PrincipalAmountOutstandingOnLoansManagedAndSecuritized / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember |
Loan unamortized premium |  |  | 0 rwt_LoansandLeasesReceivableUnamortizedPremium / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember |
Allowance for loan losses |  |  | 0 us-gaap_LoansAndLeasesReceivableAllowance / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember |
Deferred bond issuance costs |  |  | 0 us-gaap_DeferredFinanceCostsGross / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember |
Other assets |  |  | 5,000,000 us-gaap_OtherAssets / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember |
Total Assets |  |  | 1,377,000,000 us-gaap_Assets / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember |
ABS issued principal |  |  | 1,303,000,000 us-gaap_SecuredDebt / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember |
ABS issued unamortized discount |  |  | 0 us-gaap_DebtInstrumentUnamortizedDiscount / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember |
Total liabilities |  |  | 1,303,000,000 us-gaap_Liabilities / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember |
Redwood's investment in consolidated Sequoia entities |  |  | 74,000,000 us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountAssetsAndLiabilitiesNet / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember |
Variable Interest Entity, Primary Beneficiary | Residential Loans Held for Investment |  |  |  |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |  |  |  |
Residential loans |  |  | 1,373,000,000 us-gaap_LoansAndLeasesReceivableNetReportedAmountConsumer / us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis = rwt_ResidentialLoansHeldForInvestmentMember / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember |
Variable Interest Entity, Primary Beneficiary | Previously Reported |  |  |  |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |  |  |  |
Loan Principal |  |  | 1,486,000,000 us-gaap_PrincipalAmountOutstandingOnLoansManagedAndSecuritized / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember / us-gaap_StatementScenarioAxis = us-gaap_ScenarioPreviouslyReportedMember |
Loan unamortized premium |  |  | 13,000,000 rwt_LoansandLeasesReceivableUnamortizedPremium / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember / us-gaap_StatementScenarioAxis = us-gaap_ScenarioPreviouslyReportedMember |
Allowance for loan losses |  |  | (21,000,000)us-gaap_LoansAndLeasesReceivableAllowance / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember / us-gaap_StatementScenarioAxis = us-gaap_ScenarioPreviouslyReportedMember |
Deferred bond issuance costs |  |  | 1,000,000 us-gaap_DeferredFinanceCostsGross / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember / us-gaap_StatementScenarioAxis = us-gaap_ScenarioPreviouslyReportedMember |
Other assets |  |  | 5,000,000 us-gaap_OtherAssets / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember / us-gaap_StatementScenarioAxis = us-gaap_ScenarioPreviouslyReportedMember |
Total Assets |  |  | 1,482,000,000 us-gaap_Assets / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember / us-gaap_StatementScenarioAxis = us-gaap_ScenarioPreviouslyReportedMember |
ABS issued principal |  |  | 1,428,000,000 us-gaap_SecuredDebt / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember / us-gaap_StatementScenarioAxis = us-gaap_ScenarioPreviouslyReportedMember |
ABS issued unamortized discount |  |  | (10,000,000)us-gaap_DebtInstrumentUnamortizedDiscount / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember / us-gaap_StatementScenarioAxis = us-gaap_ScenarioPreviouslyReportedMember |
Total liabilities |  |  | 1,418,000,000 us-gaap_Liabilities / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember / us-gaap_StatementScenarioAxis = us-gaap_ScenarioPreviouslyReportedMember |
Redwood's investment in consolidated Sequoia entities |  |  | 64,000,000 us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountAssetsAndLiabilitiesNet / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember / us-gaap_StatementScenarioAxis = us-gaap_ScenarioPreviouslyReportedMember |
Variable Interest Entity, Primary Beneficiary | Previously Reported | Residential Loans Held for Investment |  |  |  |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |  |  |  |
Residential loans |  |  | 1,478,000,000 us-gaap_LoansAndLeasesReceivableNetReportedAmountConsumer / us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis = rwt_ResidentialLoansHeldForInvestmentMember / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember / us-gaap_StatementScenarioAxis = us-gaap_ScenarioPreviouslyReportedMember |
Variable Interest Entity, Primary Beneficiary | Restatement Adjustment | Accounting Standards Update 2014-13 |  |  |  |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |  |  |  |
Loan Principal |  |  | (113,000,000)us-gaap_PrincipalAmountOutstandingOnLoansManagedAndSecuritized / us-gaap_AdjustmentsForNewAccountingPronouncementsAxis = rwt_AccountingStandardsUpdate201413Member / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember / us-gaap_StatementScenarioAxis = us-gaap_RestatementAdjustmentMember |
Loan unamortized premium |  |  | (13,000,000)rwt_LoansandLeasesReceivableUnamortizedPremium / us-gaap_AdjustmentsForNewAccountingPronouncementsAxis = rwt_AccountingStandardsUpdate201413Member / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember / us-gaap_StatementScenarioAxis = us-gaap_RestatementAdjustmentMember |
Allowance for loan losses |  |  | 21,000,000 us-gaap_LoansAndLeasesReceivableAllowance / us-gaap_AdjustmentsForNewAccountingPronouncementsAxis = rwt_AccountingStandardsUpdate201413Member / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember / us-gaap_StatementScenarioAxis = us-gaap_RestatementAdjustmentMember |
Deferred bond issuance costs |  |  | (1,000,000)us-gaap_DeferredFinanceCostsGross / us-gaap_AdjustmentsForNewAccountingPronouncementsAxis = rwt_AccountingStandardsUpdate201413Member / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember / us-gaap_StatementScenarioAxis = us-gaap_RestatementAdjustmentMember |
Other assets |  |  | 0 us-gaap_OtherAssets / us-gaap_AdjustmentsForNewAccountingPronouncementsAxis = rwt_AccountingStandardsUpdate201413Member / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember / us-gaap_StatementScenarioAxis = us-gaap_RestatementAdjustmentMember |
Total Assets |  |  | (105,000,000)us-gaap_Assets / us-gaap_AdjustmentsForNewAccountingPronouncementsAxis = rwt_AccountingStandardsUpdate201413Member / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember / us-gaap_StatementScenarioAxis = us-gaap_RestatementAdjustmentMember |
ABS issued principal |  |  | (125,000,000)us-gaap_SecuredDebt / us-gaap_AdjustmentsForNewAccountingPronouncementsAxis = rwt_AccountingStandardsUpdate201413Member / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember / us-gaap_StatementScenarioAxis = us-gaap_RestatementAdjustmentMember |
ABS issued unamortized discount |  |  | 10,000,000 us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_AdjustmentsForNewAccountingPronouncementsAxis = rwt_AccountingStandardsUpdate201413Member / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember / us-gaap_StatementScenarioAxis = us-gaap_RestatementAdjustmentMember |
Total liabilities |  |  | (115,000,000)us-gaap_Liabilities / us-gaap_AdjustmentsForNewAccountingPronouncementsAxis = rwt_AccountingStandardsUpdate201413Member / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember / us-gaap_StatementScenarioAxis = us-gaap_RestatementAdjustmentMember |
Redwood's investment in consolidated Sequoia entities |  |  | 10,000,000 us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountAssetsAndLiabilitiesNet / us-gaap_AdjustmentsForNewAccountingPronouncementsAxis = rwt_AccountingStandardsUpdate201413Member / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember / us-gaap_StatementScenarioAxis = us-gaap_RestatementAdjustmentMember |
Variable Interest Entity, Primary Beneficiary | Restatement Adjustment | Accounting Standards Update 2014-13 | Residential Loans Held for Investment |  |  |  |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |  |  |  |
Residential loans |  |  | $ (105,000,000)us-gaap_LoansAndLeasesReceivableNetReportedAmountConsumer / us-gaap_AdjustmentsForNewAccountingPronouncementsAxis = rwt_AccountingStandardsUpdate201413Member / us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis = rwt_ResidentialLoansHeldForInvestmentMember / dei_LegalEntityAxis = us-gaap_VariableInterestEntityPrimaryBeneficiaryMember / us-gaap_StatementScenarioAxis = us-gaap_RestatementAdjustmentMember |
[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 the primary beneficiary (Redwood Trust, Inc.). At March 31, 2015 and December 31, 2014, assets of consolidated VIEs totaled $1,716,563 and $1,900,208, respectively, and liabilities of consolidated VIEs totaled $1,354,298 and $1,546,490, respectively. See Note 4 for further discussion.
[2] | On January 1, 2015, we adopted ASU 2014-13 and began to account for residential loans held-for-investment and asset backed securities issued at consolidated Sequoia entities (which are VIEs) at fair value. At December 31, 2014, amounts presented in residential loans held-for-investment for these assets included $1,474,386 at historical cost. See Note 3 for further discussion.

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