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Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands		Mar. 31, 2017	Dec. 31, 2016
Assets
Trading securities		$ 591,152	$ 445,687
Available-for-sale securities		574,788	572,752
Derivative assets	[1]	26,660	36,595
MSRs	[1]	111,013	118,526
Pledged collateral		42,916	42,875
Liabilities
Derivative liabilities	[1]	66,867	66,329
Fair Value, Measurements, Recurring
Assets
Trading securities		591,152	445,687
Available-for-sale securities		574,788	572,752
Derivative assets		26,660	36,595
MSRs		111,013	118,526
Pledged collateral		42,916	42,875
FHLBC stock		43,393	43,393
Guarantee asset		3,846	4,092
Liabilities
Derivative liabilities		66,867	66,329
ABS issued		728,391	773,462
Fair Value, Measurements, Recurring | Residential Loans
Assets
Loans at fair value		3,471,041	3,886,845
Fair Value, Measurements, Recurring | Level 1
Assets
Trading securities		0	0
Available-for-sale securities		0	0
Derivative assets		9,548	8,300
MSRs		0	0
Pledged collateral		42,916	42,875
FHLBC stock		0	0
Guarantee asset		0	0
Liabilities
Derivative liabilities		9,798	5,609
ABS issued		0	0
Fair Value, Measurements, Recurring | Level 1 | Residential Loans
Assets
Loans at fair value		0	0
Fair Value, Measurements, Recurring | Level 2
Assets
Trading securities		0	0
Available-for-sale securities		0	0
Derivative assets		11,552	24,980
MSRs		0	0
Pledged collateral		0	0
FHLBC stock		43,393	43,393
Guarantee asset		0	0
Liabilities
Derivative liabilities		56,296	56,919
ABS issued		0	0
Fair Value, Measurements, Recurring | Level 2 | Residential Loans
Assets
Loans at fair value		0	0
Fair Value, Measurements, Recurring | Level 3
Assets
Trading securities		591,152	445,687
Available-for-sale securities		574,788	572,752
Derivative assets		5,560	3,315
MSRs		111,013	118,526
Pledged collateral		0	0
FHLBC stock		0	0
Guarantee asset		3,846	4,092
Liabilities
Derivative liabilities		773	3,801
ABS issued		728,391	773,462
Fair Value, Measurements, Recurring | Level 3 | Residential Loans
Assets
Loans at fair value		$ 3,471,041	$ 3,886,845
[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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