XML 80 R69.htm IDEA: XBRL DOCUMENT
v3.4.0.3

Fair Value of Financial Instruments - Quantitative Information about Significant Unobservable Inputs Used in Valuation of Level 3 Assets and Liabilities Measured at Fair Value (Detail) | 3 Months Ended
--- | ---
Mar. 31, 2016 USD ($) $ / loan
Loan Purchase Commitments | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Spread to swap rate | 1.30%
Loan Purchase Commitments | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Spread to swap rate | 1.80%
Loan Purchase Commitments | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Spread to swap rate | 1.54%
Asset-backed Securities |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 907,023,000
Asset-backed Securities | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Discount rate | 5.00%
Prepayment rate | 5.00%
Credit support | 0.00%
Loss severity | 20.00%
Default rate | 1.00%
Asset-backed Securities | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Discount rate | 9.00%
Prepayment rate | 20.00%
Credit support | 33.00%
Loss severity | 32.00%
Default rate | 12.00%
Asset-backed Securities | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Discount rate | 5.00%
Prepayment rate | 12.00%
Credit support | 9.00%
Loss severity | 27.00%
Default rate | 7.00%
Commercial Secured Borrowings |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 65,181,000
Commercial Secured Borrowings | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Spread to swap rate | 2.12%
Credit support | 25.00%
Commercial Secured Borrowings | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Spread to swap rate | 2.12%
Credit support | 25.00%
Commercial Secured Borrowings | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Spread to swap rate | 2.12%
Credit support | 25.00%
Residential Loans Priced To Securitization and Whole Loan Market, Uncommitted to Sell |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 2,494,912,000
Residential Loans Priced To Securitization and Whole Loan Market, Uncommitted to Sell | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to TBA (usd per loan) | $ / loan | 3.13
Residential Loans Priced To Securitization and Whole Loan Market, Uncommitted to Sell | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to TBA (usd per loan) | $ / loan | 4.35
Residential Loans Priced To Securitization and Whole Loan Market, Uncommitted to Sell | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to TBA (usd per loan) | $ / loan | 4.12
Residential Jumbo Hybrid Loans Priced To Whole Loan Market Uncommitted To Sell |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 83,124,000
Residential Jumbo Hybrid Loans Priced To Whole Loan Market Uncommitted To Sell | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate | 15.00%
Spread to swap rate | 1.30%
Residential Jumbo Hybrid Loans Priced To Whole Loan Market Uncommitted To Sell | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate | 15.00%
Spread to swap rate | 1.80%
Residential Jumbo Hybrid Loans Priced To Whole Loan Market Uncommitted To Sell | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate | 15.00%
Spread to swap rate | 1.51%
Residential Loans Priced To Whole Loan Market and Committed to Sell |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 204,204,000
Residential Loans Priced To Whole Loan Market and Committed to Sell | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Committed Sales Price | $ / loan | 101.91
Residential Loans Priced To Whole Loan Market and Committed to Sell | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Committed Sales Price | $ / loan | 102.30
Residential Loans Priced To Whole Loan Market and Committed to Sell | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Committed Sales Price | $ / loan | 102.14
Residential Loans Held For Investment at Fair Value |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 930,027,000
Residential Loans at Lower of Cost or Fair Value |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 1,076,000
Residential Loans at Lower of Cost or Fair Value | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Loss severity | 15.00%
Residential Loans at Lower of Cost or Fair Value | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Loss severity | 30.00%
Residential Loans at Lower of Cost or Fair Value | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Loss severity | 29.00%
Commercial Loans at Fair Value |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 69,674,000
Commercial Loans at Fair Value | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Spread to swap rate | 2.20%
Credit support | 25.00%
Commercial Loans at Fair Value | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Spread to swap rate | 2.20%
Credit support | 25.00%
Commercial Loans at Fair Value | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Spread to swap rate | 2.20%
Credit support | 25.00%
Investment Securities |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 919,927,000
Investment Securities | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Discount rate | 5.00%
Prepayment rate | 1.00%
Credit support | 0.00%
Loss severity | 20.00%
Default rate | 0.00%
Investment Securities | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Discount rate | 12.00%
Prepayment rate | 35.00%
Credit support | 48.00%
Loss severity | 65.00%
Default rate | 35.00%
Investment Securities | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Discount rate | 6.00%
Prepayment rate | 14.00%
Credit support | 4.00%
Loss severity | 23.00%
Default rate | 3.00%
Mortgage servicing rights |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 126,620,000
Mortgage servicing rights | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Discount rate | 8.00%
Prepayment rate | 4.00%
Per loan annual cost to service | $ 72
Mortgage servicing rights | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Discount rate | 13.00%
Prepayment rate | 60.00%
Per loan annual cost to service | $ 82
Mortgage servicing rights | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Discount rate | 10.00%
Prepayment rate | 15.00%
Per loan annual cost to service | $ 78
Guarantee asset |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 4,272,000
Guarantee asset | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Discount rate | 11.00%
Prepayment rate | 19.00%
Guarantee asset | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Discount rate | 11.00%
Prepayment rate | 19.00%
Guarantee asset | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Discount rate | 11.00%
Prepayment rate | 19.00%
REO |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 1,285,000
REO | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Loss severity | 11.00%
REO | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Loss severity | 93.00%
REO | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Loss severity | 35.00%
Loan Purchase Commitments |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 4,639,000
Loan Purchase Commitments | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate | 15.00%
Whole loan spread to TBA (usd per loan) | $ / loan | 3.35
MSR Multiple | 0.3
Fallout rate | 2.00%
Loan Purchase Commitments | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate | 15.00%
Whole loan spread to TBA (usd per loan) | $ / loan | 4.35
MSR Multiple | 6.6
Fallout rate | 98.00%
Loan Purchase Commitments | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate | 15.00%
Whole loan spread to TBA (usd per loan) | $ / loan | 4.16
MSR Multiple | 2.8
Fallout rate | 44.00%

X
- Definition Fair Value Inputs, Committed Sales Price + References No definition available. + Details
Name: | rwt_FairValueInputsCommittedSalesPrice
Namespace Prefix: | rwt_
Data Type: | us-types:perUnitItemType
Balance Type: | na
Period Type: | duration

X
- Definition Fair Value Inputs, Credit Spreads + References No definition available. + Details
Name: | rwt_FairValueInputsCreditSpreads
Namespace Prefix: | rwt_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Percentage of credit support for financial asset. + References No definition available. + Details
Name: | rwt_FairValueInputsCreditSupport
Namespace Prefix: | rwt_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Fair Value Inputs, Fallout Rate + References No definition available. + Details
Name: | rwt_FairValueInputsFalloutRate
Namespace Prefix: | rwt_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Fair Value Inputs, Mortgage Servicing Right (MSR) Multiple + References No definition available. + Details
Name: | rwt_FairValueInputsMortgageServicingRightMSRMultiple
Namespace Prefix: | rwt_
Data Type: | xbrli:pureItemType
Balance Type: | na
Period Type: | duration

X
- Definition Fair Value Inputs, Per Loan Annual Cost To Service + References No definition available. + Details
Name: | rwt_FairValueInputsPerLoanAnnualCostToService
Namespace Prefix: | rwt_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Fair Value Inputs, Whole Loan Spread + References No definition available. + Details
Name: | rwt_FairValueInputsWholeLoanSpread
Namespace Prefix: | rwt_
Data Type: | us-types:perUnitItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_FairValueInputsAssetsQuantitativeInformationLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value. For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueInputsDiscountRate
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Loss, including interest and principal, incurred on a defaulted security, expressed as a percentage of the original principal balance, used as an input to measure fair value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueInputsLossSeverity
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Rate at which loans or a loan portfolio are expected to prepay principal balances, used as an input to measure fair value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueInputsPrepaymentRate
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Percentage of likelihood a loan will not be repaid and instead default, used as an input to measure fair value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueInputsProbabilityOfDefault
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Fair value of financial instrument classified as derivative asset (liability) after deduction of derivative liability (asset), measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19279-110258 + Details
Name: | us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Details
Name: | us-gaap_FairValueByLiabilityClassAxis=us-gaap_LoanPurchaseCommitmentsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RangeAxis=us-gaap_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RangeAxis=us-gaap_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RangeAxis=us-gaap_WeightedAverageMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByLiabilityClassAxis=us-gaap_AssetBackedSecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByLiabilityClassAxis=rwt_CommercialSecuredLoanMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=rwt_ResidentialLoansPricedToSecuritizationAndWholeLoanMarketUncommittedToSellMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=rwt_ResidentialJumboHybridLoansPricedToWholeLoanMarketUncommittedToSellMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=rwt_ResidentialLoansPricedToWholeLoanMarketandCommittedtoSellMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=rwt_ResidentialLoansHeldForInvestmentAtFairValueMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=rwt_ResidentialLoansAtLowerOfCostOrFairValueMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=rwt_CommercialLoansAtFairValueMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=rwt_InvestmentSecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=rwt_MortgageServicingRightsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=rwt_GuaranteeAssetMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=rwt_OtherRealEstateOwnedMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=us-gaap_LoanPurchaseCommitmentsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |