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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash Flows From Operating Activities:    
Net Income $ 36,969 $ 12,063
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of premiums, discounts, and securities issuance costs, net (5,023) (7,568)
Depreciation and amortization of non-financial assets 306 277
Purchases of held-for-sale loans (1,103,047) (1,245,068)
Proceeds from sales of held-for-sale loans 1,347,575 1,336,617
Principal payments on held-for-sale loans 13,001 23,518
Net settlements of derivatives 10,238 (1,154)
Provision for loan losses 0 289
Non-cash equity award compensation expense 2,242 5,782
Market valuation adjustments (15,129) 15,848
Realized gains, net (5,703) (9,538)
Net change in:    
Accrued interest receivable and other assets (10,490) (30,056)
Accrued interest payable and accrued expenses and other liabilities (17,301) 4,966
Net cash provided by operating activities 253,638 105,976
Cash Flows From Investing Activities:    
Proceeds from sales of loans held-for-investment 0 6,298
Principal payments on loans held-for-investment 147,127 125,631
Purchases of real estate securities (144,948) (48,446)
Proceeds from sales of real estate securities 26,887 340,798
Principal payments on real estate securities 17,529 22,401
Purchase of mortgage servicing rights (100) (5,397)
Proceeds from sales of mortgage servicing rights 9,136 28,268
Net change in restricted cash 6,694 3,430
Net cash provided by investing activities 62,325 472,983
Cash Flows From Financing Activities:    
Proceeds from borrowings on short-term debt 877,495 1,027,320
Repayments on short-term debt (1,105,261) (2,078,148)
Repayments on asset-backed securities issued (55,609) (50,868)
Proceeds from issuance of long-term debt 0 771,287
Repayments on long-term debt 0 (118,146)
Net settlements of derivatives (34) (73)
Net proceeds from issuance of common stock 73 77
Net payments on repurchase of common stock 0 (22,987)
Taxes paid on equity award distributions (1,601) (229)
Dividends paid (22,089) (22,306)
Net cash used in financing activities (307,026) (494,073)
Net increase in cash and cash equivalents 8,937 84,886
Cash and cash equivalents at beginning of period 212,844 [1] 220,229
Cash and cash equivalents at end of period 221,781 [1] 305,115
Cash paid during the period for:    
Interest 14,726 18,634
Taxes 4 64
Supplemental Noncash Information:    
Real estate securities retained from loan securitizations 25,858 0
Retention of mortgage servicing rights from loan securitizations and sales 7,386 3,463
Transfers from loans held-for-sale to loans held-for-investment 184,996 660,818
Transfers from loans held-for-investment to loans held-for-sale 0 54,747
Transfers from residential loans to real estate owned $ 968 $ 2,042
[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.