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Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
ASSETS    
Residential loans $ 3,399,755us-gaap_LoansAndLeasesReceivableNetReportedAmountConsumer $ 3,398,573us-gaap_LoansAndLeasesReceivableNetReportedAmountConsumer
Commercial loans 460,342us-gaap_LoansAndLeasesReceivableNetReportedAmountCommercial 566,927us-gaap_LoansAndLeasesReceivableNetReportedAmountCommercial
Real estate securities, at fair value 1,285,243us-gaap_MarketableSecurities [1] 1,379,230us-gaap_MarketableSecurities [1]
Mortgage servicing rights, at fair value 120,324us-gaap_ServicingAssetAtFairValueAmount [1] 139,293us-gaap_ServicingAssetAtFairValueAmount [1]
Cash and cash equivalents 303,820us-gaap_CashAndCashEquivalentsAtCarryingValue [1] 269,730us-gaap_CashAndCashEquivalentsAtCarryingValue [1]
Total earning assets 5,569,484us-gaap_Investments [1] 5,753,753us-gaap_Investments [1]
Restricted cash 725us-gaap_RestrictedCashAndCashEquivalents [1] 628us-gaap_RestrictedCashAndCashEquivalents [1]
Accrued interest receivable 17,970us-gaap_InterestReceivable [1] 18,222us-gaap_InterestReceivable [1]
Derivative assets 30,546us-gaap_DerivativeAssets [1] 16,417us-gaap_DerivativeAssets [1]
Deferred securities issuance costs 14,302us-gaap_DeferredFinanceCostsNet [1] 16,050us-gaap_DeferredFinanceCostsNet [1]
Other assets 182,992us-gaap_OtherAssets [1] 113,896us-gaap_OtherAssets [1]
Total Assets 5,816,019us-gaap_Assets [1] 5,918,966us-gaap_Assets [1]
Liabilities    
Short-term debt 1,502,164us-gaap_ShortTermBorrowings [1] 1,793,825us-gaap_ShortTermBorrowings [1]
Accrued interest payable 14,319us-gaap_InterestPayableCurrentAndNoncurrent [1] 8,503us-gaap_InterestPayableCurrentAndNoncurrent [1]
Derivative liabilities 68,064us-gaap_DerivativeLiabilities [1] 58,331us-gaap_DerivativeLiabilities [1]
Accrued expenses and other liabilities 60,135us-gaap_AccruedLiabilitiesCurrentAndNoncurrent [1] 52,244us-gaap_AccruedLiabilitiesCurrentAndNoncurrent [1]
Deferred tax liability 10,237us-gaap_DeferredIncomeTaxLiabilities [1] 10,236us-gaap_DeferredIncomeTaxLiabilities [1]
Asset-backed securities issued 1,353,021us-gaap_SecuredDebt [1],[2] 1,545,119us-gaap_SecuredDebt [1],[2]
Long-term debt 1,550,869us-gaap_LongTermDebt [1] 1,194,567us-gaap_LongTermDebt [1]
Total liabilities 4,558,809us-gaap_Liabilities [1] 4,662,825us-gaap_Liabilities [1]
Equity    
Common stock, par value $0.01 per share, 180,000,000 shares authorized; 83,748,621and 83,443,141 issued and outstanding 837us-gaap_CommonStockValue [1] 834us-gaap_CommonStockValue [1]
Additional paid-in capital 1,779,777us-gaap_AdditionalPaidInCapitalCommonStock [1] 1,774,030us-gaap_AdditionalPaidInCapitalCommonStock [1]
Accumulated other comprehensive income 135,640us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax [1] 140,688us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax [1]
Cumulative earnings 931,396us-gaap_RetainedEarningsAccumulatedDeficit [1] 906,867us-gaap_RetainedEarningsAccumulatedDeficit [1]
Cumulative distributions to stockholders (1,590,440)us-gaap_CumulativeDividends [1] (1,566,278)us-gaap_CumulativeDividends [1]
Total equity 1,257,210us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest [1] 1,256,141us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest [1]
Total Liabilities and Equity 5,816,019us-gaap_LiabilitiesAndStockholdersEquity [1] 5,918,966us-gaap_LiabilitiesAndStockholdersEquity [1]
Residential Loans Held For Sale    
ASSETS    
Residential loans 1,094,885us-gaap_LoansAndLeasesReceivableNetReportedAmountConsumer
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= rwt_ResidentialLoansHeldForSaleMember		 [1] 1,342,519us-gaap_LoansAndLeasesReceivableNetReportedAmountConsumer
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= rwt_ResidentialLoansHeldForSaleMember		 [1]
Residential Loans Held For Investment at Fair Value, including loans at historical cost    
ASSETS    
Residential loans 2,304,870us-gaap_LoansAndLeasesReceivableNetReportedAmountConsumer
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= rwt_ResidentialLoansHeldForInvestmentAtFairValueIncludingLoansAtHistoricalCostMember		 [1],[2] 2,056,054us-gaap_LoansAndLeasesReceivableNetReportedAmountConsumer
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= rwt_ResidentialLoansHeldForInvestmentAtFairValueIncludingLoansAtHistoricalCostMember		 [1],[2]
Commercial Loans Held For Sale    
ASSETS    
Commercial loans 54,407us-gaap_LoansAndLeasesReceivableNetReportedAmountCommercial
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= rwt_CommercialLoansHeldForSaleMember		 [1] 166,234us-gaap_LoansAndLeasesReceivableNetReportedAmountCommercial
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= rwt_CommercialLoansHeldForSaleMember		 [1]
Commercial Loans Held For Investment    
ASSETS    
Commercial loans $ 405,935us-gaap_LoansAndLeasesReceivableNetReportedAmountCommercial
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= rwt_CommercialLoansHeldForInvestmentMember		 [1] $ 400,693us-gaap_LoansAndLeasesReceivableNetReportedAmountCommercial
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= rwt_CommercialLoansHeldForInvestmentMember		 [1]
[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.