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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash Flows From Operating Activities:    
Net income $ 53,344 $ 41,865
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Amortization of premiums, discounts, and securities issuance costs, net (13,945) (18,310)
Depreciation and amortization of non-financial assets 575 315
Purchases of held-for-sale loans (2,578,592) (5,656,836)
Proceeds from sales of held-for-sale loans 2,158,601 5,366,705
Principal payments on held-for-sale loans 35,649 29,282
Net settlements of derivatives (9,427) (36,622)
Provision for loan losses (6,243) (55)
Non-cash equity award compensation expense 8,488 6,193
Market valuation adjustments 25,584 21,478
Realized gains, net (19,422) (10,622)
Net change in:    
Accrued interest receivable and other assets (20,667) (28,265)
Accrued interest payable, deferred tax liabilities, and accrued expenses and other liabilities 5,390 (1,390)
Net cash used in operating activities (360,665) (286,262)
Cash Flows From Investing Activities:    
Purchases of loans held-for-investment 0 (9,350)
Proceeds from sales of loans held-for-investment 11,395 0
Principal payments on loans held-for-investment 354,188 243,179
Purchases of real estate securities (138,527) (57,178)
Proceeds from sales of real estate securities 451,262 271,963
Principal payments on real estate securities 41,466 62,090
Purchase of mortgage servicing rights (13,766) (15,993)
Proceeds from sales of mortgage servicing rights 28,268 17,235
Net change in restricted cash (2,726) (1,761)
Net cash provided by investing activities 731,560 510,185
Cash Flows From Financing Activities:    
Proceeds from borrowings on short-term debt 2,184,069 3,605,887
Repayments on short-term debt (2,980,027) (4,032,650)
Repayments on asset-backed securities issued (158,519) (174,949)
Deferred securities issuance costs 0 (33)
Proceeds from issuance of long-term debt 771,287 637,396
Repayments on long-term debt (118,146) (251,134)
Net settlements of derivatives (82) 999
Net proceeds from issuance of common stock 146 3,498
Net payments on repurchase of common stock (24,235) 0
Taxes paid on equity award distributions (4,391) (7,973)
Dividends paid (44,303) (48,268)
Net cash used in financing activities (374,201) (267,227)
Net decrease in cash and cash equivalents (3,306) (43,304)
Cash and cash equivalents at beginning of period 220,229 [1] 269,730
Cash and cash equivalents at end of period 216,923 [1] 226,426
Cash paid during the period for:    
Interest 45,758 41,440
Taxes 467 48
Supplemental Noncash Information:    
Real estate securities retained from loan securitizations 1,834 39,698
Retention of mortgage servicing rights from loan securitizations and sales 5,688 36,834
Transfers from loans held-for-sale to loans held-for-investment 725,825 663,666
Transfers from loans held-for-investment to loans held-for-sale 359,005 0
Transfers from residential loans to real estate owned $ 5,867 $ 4,780
[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 June 30, 2016 and December 31, 2015, assets of consolidated VIEs totaled $888,026 and $1,195,574, respectively. At June 30, 2016 and December 31, 2015, liabilities of consolidated VIEs totaled $860,256 and $1,050,861, respectively. See Note 4 for further discussion.