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v3.3.1.900

Long-Term Debt - Additional Information (Detail) - USD ($) | 1 Months Ended | 12 Months Ended
--- | --- | ---
Nov. 30, 2014 | Mar. 31, 2013 | Dec. 31, 2015 | Dec. 31, 2014
Debt Instrument [Line Items] |  |  |  |  |
Federal home loan bank stock |  |  |  | $ 34,437,000 | $ 10,688,000
Accrued interest payable |  |  |  | 2,000,000 | 2,000,000
Accrued interest payable (less than) | [1] |  |  | 8,936,000 | $ 8,503,000
Secured borrowings |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Commercial mortgage loans |  |  |  | $ 63,000,000 |
Convertible notes | Exchangeable senior notes due 2019 |  |  |  |  |
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 |  |  |  | 6.59% |
Accrued interest payable |  |  |  | $ 2,000,000 |
Unamortized deferred issuance costs |  |  |  | $ 5,000,000 |
Convertible debt, conversion ratio |  |  |  | 0.0461798 |
Convertible senior notes conversion per share |  |  |  | $ 21.65 |
Convertible notes | Convertible 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 |  |  |  | 5.42% |
Accrued interest payable |  |  |  | $ 3,000,000 |
Unamortized deferred issuance costs |  |  |  | $ 4,000,000 |
Convertible debt, conversion ratio |  |  |  | 0.041132 |
Convertible senior notes conversion per share |  |  |  | $ 24.31 |
Trust Preferred Securities |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Interest expense yield |  |  |  | 2.62% | 2.58%
Debt instrument face amount |  |  |  | $ 100,000,000 |
Interest expense yield on trust preferred securities and subordinated notes |  |  |  | 6.87% | 6.88%
Accrued interest payable (less than) |  |  |  | $ 1,000,000 | $ 1,000,000
Subordinated Notes |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Interest expense yield |  |  |  | 2.62% | 2.58%
Debt instrument face amount |  |  |  | $ 40,000,000 |
Interest expense yield on trust preferred securities and subordinated notes |  |  |  | 6.87% | 6.88%
Accrued interest payable (less than) |  |  |  | $ 1,000,000 | $ 1,000,000
Residential Loans |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Maximum borrowing capacity |  |  |  | $ 1,400,000,000 | 1,550,000,000
FHLB Chicago |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Interest rate margin reset period |  |  |  | 91 days |
FHLB Chicago | Residential Loans |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Residential mortgage loans securing FHLB advances |  |  |  | $ 1,680,000,000 |
Subsidiaries | FHLB Chicago |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Maximum borrowing capacity |  |  |  | 2,000,000,000 |
Additional borrowings from FHLB |  |  |  | 985,000,000 |
Outstanding FHLB advances |  |  |  | 1,480,000,000 | $ 496,000,000
FHLB advances, long-term |  |  |  | $ 1,340,000,000 |
Weighted average interest rate |  |  |  | 0.46% |
Weighted average maturity |  |  |  | 9 years |
[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 December 31, 2015 and December 31, 2014, assets of consolidated VIEs totaled $1,195,574 and $1,900,208, respectively. At December 31, 2015 and December 31, 2014, liabilities of consolidated VIEs totaled $1,050,861 and $1,546,490, respectively. See Note 4 for further discussion.

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