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Long-Term Debt - Additional Information (Details) - USD ($)
 1 Months Ended 3 Months Ended 12 Months Ended
Jan. 31, 2016
Nov. 30, 2014
Mar. 31, 2013
Mar. 31, 2017
Mar. 31, 2016
Dec. 31, 2016
Debt Instrument [Line Items]            
Transition period for subsidiary to be a FHLB-member (in years) 5 years          
Existing debt       $ 0   $ 0
Federal home loan bank stock       43,393,000   43,393,000
Accrued interest payable       3,000,000   3,000,000
Notional amount       6,128,754,000   4,980,343,000
Accrued interest payable [1]       16,035,000   9,608,000
Convertible Debt | Exchangeable Senior Notes            
Debt Instrument [Line Items]            
Convertible notes   $ 205,000,000   $ 201,000,000    
Debt Instrument interest rate (as a percent)   5.625%        
Debt instrument maturity year   2019        
Debt instrument redemption date   Nov. 15, 2019        
Net proceeds from issuance of convertible debt   $ 198,000,000        
Interest expense yield (as a percent)       6.60%    
Convertible senior notes conversion rate       0.0461798    
Convertible senior notes conversion per share (in dollars per share)       $ 21.65    
Amount of debt repurchased       $ 0 $ 4,000,000  
Accrued interest payable       5,000,000    
Unamortized debt issuance costs       $ 4,000,000    
Convertible Debt | Exchangeable Senior Notes | Gain (loss) on investments            
Debt Instrument [Line Items]            
Gain on extinguishment of debt         $ 300,000  
Convertible Debt | Convertible Senior Notes Due 2018            
Debt Instrument [Line Items]            
Convertible notes     $ 288,000,000      
Debt Instrument interest rate (as a percent)     4.625%      
Net proceeds from issuance of convertible debt     $ 279,000,000      
Interest expense yield (as a percent)       5.40%    
Convertible senior notes conversion rate       0.0411320    
Convertible senior notes conversion per share (in dollars per share)       $ 24.31    
Accrued interest payable       $ 7,000,000    
Unamortized debt issuance costs       $ 2,000,000    
Trust Preferred Securities And Subordinated Notes            
Debt Instrument [Line Items]            
Weighted average interest rates, by series (as a percent)       6.80%    
Accrued interest payable       $ 1,000,000   1,000,000
Trust Preferred Securities And Subordinated Notes | Interest rate swaps            
Debt Instrument [Line Items]            
Notional amount       $ 140,000,000    
Trust Preferred Securities And Subordinated Notes | LIBOR            
Debt Instrument [Line Items]            
Basis spread on variable rate (as a percent)       2.25%    
Trust Preferred Securities            
Debt Instrument [Line Items]            
Debt instrument face amount       $ 99,500,000    
Subordinated Notes            
Debt Instrument [Line Items]            
Debt instrument face amount       $ 40,000,000    
FHLB Chicago            
Debt Instrument [Line Items]            
Federal home loan bank advances, reset period of basis margin (in days)       91 days    
FHLB Chicago | Held-for-sale residential loans            
Debt Instrument [Line Items]            
Loans pledged as collateral under borrowing agreement with FHLBC       $ 2,340,000,000    
FHLB Member Subsidiary | FHLB Chicago            
Debt Instrument [Line Items]            
Maximum borrowing limit       2,000,000,000    
Additional borrowings from FHLBC       0    
Existing debt       2,000,000,000    
Federal home loan bank advances outstanding       $ 2,000,000,000   $ 2,000,000,000
Weighted average interest rate (as a percent)       0.82%   0.64%
Weighted average maturity (in years)       8 years   9 years
[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.