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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) - Variable Interest Entity, Not Primary Beneficiary - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2017 | Dec. 31, 2016
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 | $ 65,018 | $ 58,800
Expected life (in years) | 7 years | 7 years
Prepayment speed assumption (annual CPR) (as a percent) | 10.00% | 11.00%
Decrease in fair value from: |  |
10% adverse change | $ 2,399 | $ 2,226
25% adverse change | $ 5,707 | $ 5,284
Discount rate assumption (as a percent) | 11.00% | 11.00%
Decrease in fair value from: |  |
100 basis point increase | $ 2,346 | $ 2,088
200 basis point increase | $ 4,524 | 4,032
Decrease in fair value from: |  |
Impact of adverse change in prepayment speed (as a percent) | 25.00% |
Impact of increase in discount rate assumption (as a percent) | 1.00% |
Impact of adverse change in expected credit losses (as a percent) | 25.00% |
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 | $ 28,799 | $ 26,618
Expected life (in years) | 6 years | 6 years
Prepayment speed assumption (annual CPR) (as a percent) | 8.00% | 8.00%
Decrease in fair value from: |  |
10% adverse change | $ 1,190 | $ 1,075
25% adverse change | $ 2,836 | $ 2,569
Discount rate assumption (as a percent) | 8.00% | 8.00%
Decrease in fair value from: |  |
100 basis point increase | $ 1,200 | $ 1,105
200 basis point increase | $ 2,311 | $ 2,128
Credit loss assumption (as a percent) | 0.25% | 0.25%
Decrease in fair value from: |  |
10% higher losses | $ 19 | $ 19
25% higher losses | $ 48 | 49
Impact of adverse change in prepayment speed (as a percent) | 25.00% |
Impact of increase in discount rate assumption (as a percent) | 1.00% |
Impact of adverse change in expected credit losses (as a percent) | 25.00% |
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 |  | 27,000
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 | $ 263,474 | $ 249,317
Expected life (in years) | 13 years | 12 years
Prepayment speed assumption (annual CPR) (as a percent) | 12.00% | 12.00%
Decrease in fair value from: |  |
10% adverse change | $ 970 | $ 997
25% adverse change | $ 2,381 | $ 2,494
Discount rate assumption (as a percent) | 6.00% | 6.00%
Decrease in fair value from: |  |
100 basis point increase | $ 21,360 | $ 19,574
200 basis point increase | $ 39,818 | $ 36,574
Credit loss assumption (as a percent) | 0.25% | 0.25%
Decrease in fair value from: |  |
10% higher losses | $ 1,312 | $ 1,174
25% higher losses | $ 3,279 | $ 2,933
Impact of adverse change in prepayment speed (as a percent) | 25.00% |
Impact of increase in discount rate assumption (as a percent) | 1.00% |
Impact of adverse change in expected credit losses (as a percent) | 25.00% |

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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=64830801&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=64830801&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=64830801&loc=d3e107314-111719 + Details
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