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Real Estate Securities - Fair Values of Real Estate Securities (Details) - USD ($)
$ in Thousands
Sep. 30, 2016
Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]    
Trading $ 341,269 $ 404,011
Available-for-sale 595,641 829,245
Total Real Estate Securities [1] $ 936,910 $ 1,233,256
[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.