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Real Estate Securities - Fair Values of Real Estate Securities (Detail) - USD ($)
$ in Thousands
Sep. 30, 2015
Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]    
Trading $ 114,211 $ 111,606
Available-for-sale 971,013 1,267,624
Total Real Estate Securities [1] $ 1,085,224 $ 1,379,230
[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 Redwood Trust, Inc. or its affiliates. At September 30, 2015 and December 31, 2014, assets of consolidated VIEs totaled $1,539,350 and $1,900,208, respectively. At September 30, 2015 and December 31, 2014, liabilities of consolidated VIEs totaled $1,179,884 and $1,546,490, respectively. See Note 4 for further discussion.