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Long-Term Debt - Additional Information (Detail) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended |
--- | --- | --- | --- | ---
Nov. 30, 2014 | Mar. 31, 2013 | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Federal home loan bank stock |  |  |  | $ 30,001,000 |  | $ 30,001,000 |  | $ 10,688,000
Accrued interest payable |  |  |  | 2,000,000 |  | 2,000,000 |  | 2,000,000
Accrued interest payable balance on long-term debt (less than) | [1] |  |  | 8,291,000 |  | 8,291,000 |  | 8,503,000
Commercial Secured Borrowings |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Commercial mortgage loans |  |  |  | $ 65,000,000 |  | $ 65,000,000 |  |
Exchangeable Senior Notes |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Convertible notes |  | $ 205,000,000 |  |  |  |  |  |
Debt Instrument interest rate |  | 5.625% |  |  |  |  |  |
Debt instrument maturity year |  | 2019 |  |  |  |  |  |
Debt instrument redemption date |  | Nov. 15, 2019 |  |  |  |  |  |
Net proceeds from issuance of convertible debt |  | $ 198,000,000 |  |  |  |  |  |
Interest expense yield |  |  |  | (6.58%) |  | (6.51%) |  |
Accrued interest payable |  |  |  | $ 2,000,000 |  | $ 2,000,000 |  |
Unamortized Debt Issuance Expense |  |  |  | $ 6,000,000 |  | $ 6,000,000 |  |
Convertible senior notes conversion rate |  |  |  |  |  | 0.0461798 |  |
Convertible senior notes conversion per share |  |  |  | $ 21.65 |  | $ 21.65 |  |
Senior Notes due 2018 |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Convertible notes |  |  | $ 288,000,000 |  |  |  |  |
Debt Instrument interest rate |  |  | 4.625% |  |  |  |  |
Net proceeds from issuance of convertible debt |  |  | $ 279,000,000 |  |  |  |  |
Interest expense yield |  |  |  | (5.41%) |  | (5.39%) |  |
Accrued interest payable |  |  |  | $ 3,000,000 |  | $ 3,000,000 |  |
Unamortized Debt Issuance Expense |  |  |  | $ 5,000,000 |  | $ 5,000,000 |  |
Convertible senior notes conversion rate |  |  |  |  |  | 0.041132 |  |
Convertible senior notes conversion per share |  |  |  | $ 24.31 |  | $ 24.31 |  |
Trust Preferred Securities |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Interest expense yield |  |  |  | (2.63%) | (2.67%) | (2.58%) | (2.57%) |
Debt instrument face amount |  |  |  | $ 100,000,000 |  | $ 100,000,000 |  |
Percentage of yield of debt securities |  |  |  | (6.85%) | (6.89%) | (6.85%) | (6.87%) |
Subordinated Notes |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Interest expense yield |  |  |  | (2.63%) | (2.67%) | (2.58%) | (2.57%) |
Debt instrument face amount |  |  |  | $ 40,000,000 |  | $ 40,000,000 |  |
Percentage of yield of debt securities |  |  |  | (6.85%) | (6.87%) | (6.85%) | (6.87%) |
Long-term Debt | Maximum |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Accrued interest payable balance on long-term debt (less than) |  |  |  | $ 1,000,000 |  | $ 1,000,000 |  | $ 1,000,000
FHLB Chicago |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Federal home loan bank advances, reset period of basis margin |  |  |  |  |  | 91 days |  |
FHLB Chicago | Residential Loans Held For Investment at Fair Value |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Amount on advances secured by residential mortgage loans |  |  |  | 1,000,000,000 |  | $ 1,000,000,000 |  |
FHLB Member Subsidiary | FHLB Chicago |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Line of Credit Facility, Maximum Borrowing Capacity |  |  |  | 1,000,000,000 |  | 1,000,000,000 |  |
Additional borrowings from FHLBC |  |  |  | 31,000,000 |  | 386,000,000 |  |
Federal home loan bank advances outstanding |  |  |  | $ 882,000,000 |  | $ 882,000,000 |  |
Weighted average interest rate |  |  |  | 0.23% |  | 0.23% |  |
Weighted average maturity |  |  |  |  |  | 6 years |  |
Federal home loan bank stock |  |  |  | $ 30,000,000 |  | $ 30,000,000 |  |
[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 June 30, 2015 and December 31, 2014, assets of consolidated VIEs totaled $1,622,636 and $1,900,208, respectively, and liabilities of consolidated VIEs totaled $1,263,249 and $1,546,490, respectively. See Note 4 for further discussion.

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- Definition Including both current and noncurrent portions, Federal Home Loan Bank borrowings initially due beyond one year or beyond the normal operating cycle if longer. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64702-112823 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.16) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 16 -Article 9 + Details
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