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Derivative Financial Instruments - Additional Information (Details) $ in Thousands | 3 Months Ended | 9 Months Ended |  |
--- | --- | --- | --- | ---
Sep. 30, 2016 USD ($) counterparty | Sep. 30, 2015 USD ($) | Sep. 30, 2016 USD ($) counterparty | Sep. 30, 2015 USD ($) | Dec. 31, 2015 USD ($) | Dec. 31, 2014 USD ($)
Derivative [Line Items] |  |  |  |  |  |  |  |  |
Notional amount | $ 4,993,201 |  |  | $ 4,993,201 |  |  | $ 6,483,976 |  |
AOCI, interest rate agreements | $ 1,130,130 | [1] | $ 1,206,575 | $ 1,130,130 | [1] | $ 1,206,575 | 1,146,265 | [1] | $ 1,256,141
Number of counterparties | counterparty | 3 |  |  | 3 |  |  |  |  |
Net unrealized losses on interest rate agreements accounted for as cash flow hedges |  |  |  |  |  |  |  |  |
Derivative [Line Items] |  |  |  |  |  |  |  |  |
AOCI, interest rate agreements |  |  |  |  |  |  | (47,363) |  |
Mortgage Banking Activities, Net |  |  |  |  |  |  |  |  |
Derivative [Line Items] |  |  |  |  |  |  |  |  |
Market valuations gains and losses, net | $ 9,384 |  | 47 | $ 24,063 |  | 7,160 |  |  |
Loan Purchase and Forward Sales Commitments | Mortgage Banking Activities, Net |  |  |  |  |  |  |  |  |
Derivative [Line Items] |  |  |  |  |  |  |  |  |
Market valuations gains and losses, net | 12,021 |  | 25,173 | 35,508 |  | 44,482 |  |  |
Interest rate swaps | Cash Flow Hedging |  |  |  |  |  |  |  |  |
Derivative [Line Items] |  |  |  |  |  |  |  |  |
Notional amount | 140,000 |  |  | 140,000 |  |  |  |  |
Derivative gain (loss) | 1,000 |  | (12,000) | (23,000) |  | (5,000) |  |  |
Unsecuritized Residential and Commercial Loans |  |  |  |  |  |  |  |  |
Derivative [Line Items] |  |  |  |  |  |  |  |  |
Derivative gain (loss) | (5,000) |  | $ (29,000) | (11,000) |  | $ (58,000) |  |  |
Unsecuritized Residential and Commercial Loans | Interest rate contract |  |  |  |  |  |  |  |  |
Derivative [Line Items] |  |  |  |  |  |  |  |  |
Notional amount | 2,040,000 |  |  | 2,040,000 |  |  | 2,620,000 |  |
Unsecuritized Residential and Commercial Loans | TBAs |  |  |  |  |  |  |  |  |
Derivative [Line Items] |  |  |  |  |  |  |  |  |
Notional amount | 1,560,000 |  |  | 1,560,000 |  |  | 2,480,000 |  |
Unsecuritized Residential and Commercial Loans | Futures |  |  |  |  |  |  |  |  |
Derivative [Line Items] |  |  |  |  |  |  |  |  |
Notional amount | $ 145,000 |  |  | $ 145,000 |  |  | $ 78,000 |  |
[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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