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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.