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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flows From Operating Activities:    
Net Income $ 105,897 $ 61,029
Adjustments to reconcile net income to net cash used in operating activities:    
Amortization of premiums, discounts, and securities issuance costs, net (20,251) (26,244)
Depreciation and amortization of non-financial assets 849 510
Purchases of held-for-sale loans (3,817,445) (8,794,939)
Proceeds from sales of held-for-sale loans 2,930,641 7,741,024
Principal payments on held-for-sale loans 55,694 46,952
Net settlements of derivatives (13,914) (47,002)
Provision for loan losses (7,102) (115)
Non-cash equity award compensation expense 10,595 9,002
Market valuation adjustments 9,238 40,546
Realized gains, net (26,037) (16,170)
Net change in:    
Accrued interest receivable and other assets 7,983 (90,605)
Accrued interest payable, deferred tax liabilities, and accrued expenses and other liabilities 7,728 26,094
Net cash used in operating activities (756,124) (1,049,918)
Cash Flows From Investing Activities:    
Purchases of loans held-for-investment 0 (22,219)
Proceeds from sales of loans held-for-investment 219,639 0
Principal payments on loans held-for-investment 574,037 359,714
Purchases of real estate securities (212,364) (66,601)
Proceeds from sales of real estate securities 482,716 309,101
Principal payments on real estate securities 60,978 103,664
Purchase of mortgage servicing rights (15,286) (23,315)
Proceeds from sales of mortgage servicing rights 35,717 17,235
Net change in restricted cash 3,523 (7,733)
Net cash provided by investing activities 1,148,960 669,846
Cash Flows From Financing Activities:    
Proceeds from borrowings on short-term debt 3,156,642 6,213,505
Repayments on short-term debt (3,894,240) (6,160,226)
Repayments on asset-backed securities issued (208,801) (256,614)
Deferred securities issuance costs 0 (33)
Proceeds from issuance of long-term debt 771,287 1,156,396
Repayments on long-term debt (118,146) (502,268)
Net settlements of derivatives (119) (32)
Net proceeds from issuance of common stock 220 7,198
Net payments on repurchase of common stock (27,731) (32,042)
Taxes paid on equity award distributions (4,399) (8,092)
Dividends paid (66,406) (72,088)
Net cash (used in) provided by financing activities (391,693) 345,704
Net increase (decrease) in cash and cash equivalents 1,143 (34,368)
Cash and cash equivalents at beginning of period 220,229 [1] 269,730
Cash and cash equivalents at end of period 221,372 [1] 235,362
Cash paid during the period for:    
Interest 62,053 57,998
Taxes 826 55
Supplemental Noncash Information:    
Real estate securities retained from loan securitizations 3,673 39,698
Retention of mortgage servicing rights from loan securitizations and sales 7,679 52,297
Transfers from loans held-for-sale to loans held-for-investment 877,744 964,013
Transfers from loans held-for-investment to loans held-for-sale 359,005 66,918
Transfers from residential loans to real estate owned $ 8,479 $ 5,740
[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.