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Segment Information - Supplemental Information by Segment (Details) - USD ($) $ in Thousands		Mar. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Loan market valuation adjustment		$ 3,472,241	$ 3,888,051
Real estate securities	[1]	1,165,940	1,018,439
Mortgage servicing rights, at fair value	[1]	111,013	118,526
Total assets	[1]	5,214,291	5,483,477
Residential loans
Segment Reporting Information [Line Items]
Loan market valuation adjustment		3,472,241	3,888,051
Operating Segments | Investment Portfolio
Segment Reporting Information [Line Items]
Real estate securities		1,165,940	1,018,439
Mortgage servicing rights, at fair value		111,013	118,526
Total assets		3,771,370	3,615,535
Operating Segments | Investment Portfolio | Residential loans
Segment Reporting Information [Line Items]
Loan market valuation adjustment		2,350,013	2,261,016
Operating Segments | Residential Mortgage Banking
Segment Reporting Information [Line Items]
Real estate securities		0	0
Mortgage servicing rights, at fair value		0	0
Total assets		410,229	866,356
Operating Segments | Residential Mortgage Banking | Residential loans
Segment Reporting Information [Line Items]
Loan market valuation adjustment		376,607	835,399
Corporate/Other
Segment Reporting Information [Line Items]
Real estate securities		0
Mortgage servicing rights, at fair value		0	0
Total assets		1,032,692	1,001,586
Corporate/Other | Residential loans
Segment Reporting Information [Line Items]
Loan market valuation adjustment		$ 745,621	$ 791,636
[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 March 31, 2017 and December 31, 2016, assets of consolidated VIEs totaled $750,694 and $798,317, respectively. At March 31, 2017 and December 31, 2016, liabilities of consolidated VIEs totaled $728,923 and $773,980, respectively. See Note 4 for further discussion.

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Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Amount after allowance and deduction of deferred interest and fees, unamortized costs and premiums and discounts from face amounts, of loans and leases held in portfolio, including but not limited to, commercial and consumer loans. Excludes loans and leases covered under loss sharing agreements and loans held for sale.

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Fair value of an asset representing net future revenue from contractually specified servicing fees, late charges, and other ancillary revenues, in excess of future costs related to servicing arrangements.

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