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Principles of Consolidation - Key Assumptions and Sensitivity Analysis for Assets Retained from Unconsolidated Variable Interest Entity's Sponsored by Redwood (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2016 | Dec. 31, 2015
Decrease in fair value from: |  |
Discount rate assumption (percent) | 1.00% | 1.00%
Decrease in fair value from: |  |
Impact of adverse change in prepayment speed (percent) | 25.00% | 25.00%
Impact of adverse change in expected credit losses (as a percent) | 25.00% | 25.00%
Variable Interest Entity, Not Primary Beneficiary | MSRs |  |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] |  |
Fair value | $ 35,609 | $ 56,984
Expected life (in years) | 5 years | 7 years
Prepayment speed assumption (annual CPR) (percent) | 25.00% | 11.00%
Decrease in fair value from: |  |
10% adverse change | $ 2,414 | $ 2,868
25% adverse change | $ 5,687 | $ 6,119
Discount rate assumption (percent) | 11.00% | 11.00%
Decrease in fair value from: |  |
100 basis point increase | $ 861 | $ 2,711
200 basis point increase | 1,674 | 4,745
Variable Interest Entity, Not Primary Beneficiary | Senior Securities |  |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] |  |
Fair value | $ 19,098 | $ 248,570
Expected life (in years) | 5 years | 5 years
Prepayment speed assumption (annual CPR) (percent) | 14.00% | 10.00%
Decrease in fair value from: |  |
10% adverse change | $ 893 | $ 2,042
25% adverse change | $ 2,119 | $ 4,810
Discount rate assumption (percent) | 15.00% | 5.00%
Decrease in fair value from: |  |
100 basis point increase | $ 551 | $ 10,029
200 basis point increase | $ 1,072 | $ 19,365
Credit loss assumption (percent) | 0.25% | 0.25%
Decrease in fair value from: |  |
10% higher losses | $ 11 | $ 35
25% higher losses | 27 | 86
Variable Interest Entity, Not Primary Beneficiary | Interest Only Securities |  |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] |  |
Fair value | 19,000 | 31,000
Variable Interest Entity, Not Primary Beneficiary | Subordinate Securities |  |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] |  |
Fair value | $ 249,421 | $ 282,842
Expected life (in years) | 12 years | 12 years
Prepayment speed assumption (annual CPR) (percent) | 14.00% | 12.00%
Decrease in fair value from: |  |
10% adverse change | $ 955 | $ 901
25% adverse change | $ 2,364 | $ 2,278
Discount rate assumption (percent) | 5.00% | 6.00%
Decrease in fair value from: |  |
100 basis point increase | $ 19,395 | $ 21,981
200 basis point increase | $ 36,292 | $ 41,156
Credit loss assumption (percent) | 0.25% | 0.25%
Decrease in fair value from: |  |
10% higher losses | $ 1,220 | $ 1,244
25% higher losses | $ 3,048 | $ 3,129

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- Definition The hypothetical financial impact of a 200 basis point adverse change of the discount rate on the fair value of transferor's interests in transferred financial assets (including any servicing assets or servicing liabilities) as of the balance sheet date. + References No definition available. + Details
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- Definition Weighted average life of securitized assets regardless of when the transfer occurred, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=51814546&loc=d3e107314-111719 + Details
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- Definition The carrying amount (fair value) as of the balance sheet date of the transferor's interests in transferred financial assets (typically securitized receivables, generally not involved in the collection of principal) following transfer of significant portions of such financial instruments to other parties. Such interests could be ancillary cash flows and interest-only strips. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (a)(3) -URI http://asc.fasb.org/extlink&oid=51814546&loc=d3e107314-111719 + Details
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- Definition The hypothetical financial impact of a 10 percent adverse change of the expected credit losses, including expected static pool losses, on the fair value of transferor's interests in transferred financial assets (including any servicing assets or servicing liabilities) as of the balance sheet date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=51814546&loc=d3e107314-111719 + Details
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- Definition The hypothetical financial impact of a 10 percent adverse change of prepayment speed on the fair value of transferor's interests in transferred financial assets (including any servicing assets or servicing liabilities) as of the balance sheet date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=51814546&loc=d3e107314-111719 + Details
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