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Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands		Sep. 30, 2016	Dec. 31, 2015
Assets
Trading securities		$ 341,269	$ 404,011
Available-for-sale securities		595,641	829,245
Derivative assets	[1]	36,880	16,393
MSRs	[1]	106,009	191,976
Pledged collateral		43,802	53,600
Liabilities
Derivative liabilities	[1]	100,117	62,794
Commercial secured borrowings		0	63,152
Fair Value, Measurements, Recurring
Assets
Trading securities		341,269	404,011
Available-for-sale securities		595,641	829,245
Derivative assets		36,880	16,393
MSRs		106,009	191,976
Pledged collateral		43,802	53,600
FHLBC stock		43,393	34,437
Guarantee asset		3,627	5,697
Liabilities
Derivative liabilities		100,117	62,794
Commercial secured borrowings			63,152
ABS issued		819,868	996,820
Fair Value, Measurements, Recurring | Residential Loans
Assets
Loans at fair value		4,309,890	3,927,370
Fair Value, Measurements, Recurring | Commercial Loans at Fair Value
Assets
Loans at fair value			106,798
Fair Value, Measurements, Recurring | Level 1
Assets
Trading securities		0	0
Available-for-sale securities		0	0
Derivative assets		1,771	2,734
MSRs		0	0
Pledged collateral		43,802	53,600
FHLBC stock		0	0
Guarantee asset		0	0
Liabilities
Derivative liabilities		4,389	2,963
Commercial secured borrowings			0
ABS issued		0	0
Fair Value, Measurements, Recurring | Level 1 | Residential Loans
Assets
Loans at fair value		0	0
Fair Value, Measurements, Recurring | Level 1 | Commercial Loans at Fair Value
Assets
Loans at fair value			0
Fair Value, Measurements, Recurring | Level 2
Assets
Trading securities		0	0
Available-for-sale securities		0	0
Derivative assets		29,073	8,988
MSRs		0	0
Pledged collateral		0	0
FHLBC stock		43,393	34,437
Guarantee asset		0	0
Liabilities
Derivative liabilities		95,171	58,368
Commercial secured borrowings			0
ABS issued		0	0
Fair Value, Measurements, Recurring | Level 2 | Residential Loans
Assets
Loans at fair value		0	129,819
Fair Value, Measurements, Recurring | Level 2 | Commercial Loans at Fair Value
Assets
Loans at fair value			0
Fair Value, Measurements, Recurring | Level 3
Assets
Trading securities		341,269	404,011
Available-for-sale securities		595,641	829,245
Derivative assets		6,036	4,671
MSRs		106,009	191,976
Pledged collateral		0	0
FHLBC stock		0	0
Guarantee asset		3,627	5,697
Liabilities
Derivative liabilities		557	1,463
Commercial secured borrowings			63,152
ABS issued		819,868	996,820
Fair Value, Measurements, Recurring | Level 3 | Residential Loans
Assets
Loans at fair value		$ 4,309,890	3,797,551
Fair Value, Measurements, Recurring | Level 3 | Commercial Loans at Fair Value
Assets
Loans at fair value			$ 106,798
[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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