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Long-Term Debt - Additional Information (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended |
--- | --- | --- | --- | --- | ---
Nov. 30, 2014 | Mar. 31, 2013 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2013
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Transition period for subsidiary to be a FHLB-member (in years) |  |  |  |  |  | 5 years |  |  |
Existing debt |  |  |  | $ 0 |  | $ 0 |  | $ 0 |
Federal home loan bank stock |  |  |  | 43,393,000 |  | 43,393,000 |  | 34,437,000 |
Accrued interest payable |  |  |  | 3,000,000 |  | 3,000,000 |  | 2,000,000 |
Notional amount |  |  |  | 4,993,201,000 |  | 4,993,201,000 |  | 6,483,976,000 |
Accrued interest payable balance on long-term debt (less than) | [1] |  |  | 15,518,000 |  | 15,518,000 |  | 8,936,000 |
Secured Debt |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Commercial mortgage loans |  |  |  | 0 |  | 0 |  | 63,000,000 |
Convertible Debt | Exchangeable Senior Notes |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Convertible notes |  | $ 205,000,000 |  | $ 201,000,000 |  | $ 201,000,000 |  |  |
Debt Instrument interest rate (as a percent) |  | 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 (as a percent) |  |  |  |  |  | 6.60% |  |  |
Convertible senior notes conversion per share (in dollars per share) |  |  |  | $ 21.65 |  | $ 21.65 |  |  |
Amount of debt repurchased |  |  |  | $ 4,000,000 |  | $ 4,000,000 |  |  |
Accrued interest payable |  |  |  | 5,000,000 |  | 5,000,000 |  |  |
Unamortized debt issuance costs |  |  |  | $ 4,000,000 |  | $ 4,000,000 |  |  |
Convertible senior notes conversion rate |  |  |  |  |  | 0.0461798 |  |  |
Convertible Debt | Exchangeable Senior Notes | Gain (loss) on investments |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Gain on extinguishment of debt |  |  |  |  |  | $ 300,000 |  |  |
Convertible Debt | Convertible Senior Notes Due 2018 |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Convertible notes |  |  | $ 288,000,000 |  |  |  |  |  |
Debt Instrument interest rate (as a percent) |  |  | 4.625% |  |  |  |  |  |
Net proceeds from issuance of convertible debt |  |  | $ 279,000,000 |  |  |  |  |  |
Interest expense yield (as a percent) |  |  |  |  |  | 5.40% |  |  |
Convertible senior notes conversion per share (in dollars per share) |  |  |  | $ 24.31 |  | $ 24.31 |  |  |
Accrued interest payable |  |  |  | $ 7,000,000 |  | $ 7,000,000 |  |  |
Unamortized debt issuance costs |  |  |  | 3,000,000 |  | $ 3,000,000 |  |  |
Convertible senior notes conversion rate |  |  |  |  |  | 0.041132 |  |  |
Trust Preferred Securities And Subordinated Notes [Member] |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Accrued interest payable balance on long-term debt (less than) |  |  |  | 1,000,000 |  | $ 1,000,000 |  | 1,000,000 |
Trust Preferred Securities And Subordinated Notes [Member] | Interest rate swaps |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Notional amount |  |  |  |  |  |  |  |  | $ 140,000,000
Trust Preferred Securities And Subordinated Notes [Member] | LIBOR |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Basis spread on variable rate (as a percent) |  |  |  |  |  | 2.25% |  |  |
Trust Preferred Securities |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Debt instrument face amount |  |  |  | 100,000,000 |  | $ 100,000,000 |  |  |
Percentage of yield of debt securities (as a percent) |  |  |  |  |  | 6.90% |  |  |
Subordinated Notes |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Debt instrument face amount |  |  |  | $ 40,000,000 |  | $ 40,000,000 |  |  |
Percentage of yield of debt securities (as a percent) |  |  |  | 6.87% | 6.89% | 6.87% | 6.86% |  |
FHLB Chicago |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Federal home loan bank advances, reset period of basis margin (in days) |  |  |  |  |  | 91 days |  |  |
FHLB Chicago | Held-for-sale residential loans |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Loans pledged as collateral under borrowing agreement with FHLBC |  |  |  | $ 2,270,000,000 |  | $ 2,270,000,000 |  |  |
FHLB Member Subsidiary | FHLB Chicago |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |
Maximum borrowing limit |  |  |  | 2,000,000,000.00 |  | 2,000,000,000.00 |  |  |
Additional borrowings from FHLBC |  |  |  | 0 |  | 519,000,000 |  |  |
Existing debt |  |  |  | 2,000,000,000 |  | 2,000,000,000 |  |  |
Federal home loan bank advances outstanding |  |  |  | $ 2,000,000,000 |  | $ 2,000,000,000 |  | $ 1,480,000,000 |
Weighted average interest rate |  |  |  | 0.57% |  | 0.57% |  | 0.46% |
Weighted average maturity |  |  |  |  |  | 9 years |  | 9 years |
Outstanding advances classified as long-term debt |  |  |  |  |  |  |  | $ 1,340,000,000 |
[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 Redwood Trust, Inc. or its affiliates. At September 30, 2016 and December 31, 2015, assets of consolidated VIEs totaled $847,399 and $1,195,574, respectively. At September 30, 2016 and December 31, 2015, liabilities of consolidated VIEs totaled $820,391 and $1,050,861, respectively. See Note 4 for further discussion.

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- Definition Aggregate notional amount specified by the derivative(s). Expressed as an absolute value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Article 12 -Section 13 -Sentence Column B + Details
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- Definition Including the current and noncurrent portions, carrying value as of the balance sheet date of a written promise to pay a note, initially due after one year or beyond the operating cycle if longer, which can be exchanged for a specified amount of one or more securities (typically common stock), at the option of the issuer or the holder. + References Reference 1: 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 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16(a)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 20, 22 -Article 5 + Details
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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: 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 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 + Details
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