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Residential Loans - Summary of Classifications and Carrying Value of Residential Loans (Details) - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment $ 4,184,920 $ 3,888,051
Residential Loans Held For Sale    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment [1] 925,681 835,399
Residential Loans    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment 920,000 830,000
Residential Loans | Residential loans | Jumbo Loans    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment 924,594 834,193
Residential loans, at lower of cost or fair value    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment 1,000 1,000
Residential loans, at lower of cost or fair value | Residential loans    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment 1,087 1,206
Residential Loans Held For Investment at Fair Value    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment   2,260,000
Residential Loans Held For Investment at Fair Value | Residential loans | Jumbo Loans    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment 3,259,239 3,052,652
Redwood    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment 3,194,483 3,096,415
Redwood | Residential Loans Held For Sale    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment 925,681 835,399
Redwood | Residential Loans | Residential loans | Jumbo Loans    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment 924,594 834,193
Redwood | Residential loans, at lower of cost or fair value | Residential loans    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment 1,087 1,206
Redwood | Residential Loans Held For Investment at Fair Value | Residential loans | Jumbo Loans    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment 2,268,802 2,261,016
Legacy Sequoia    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment 673,134 791,636
Legacy Sequoia | Residential Loans Held For Sale    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment 0 0
Legacy Sequoia | Residential Loans | Residential loans | Jumbo Loans    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment 0 0
Legacy Sequoia | Residential loans, at lower of cost or fair value | Residential loans    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment 0 0
Legacy Sequoia | Residential Loans Held For Investment at Fair Value    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment 673,000 792,000
Legacy Sequoia | Residential Loans Held For Investment at Fair Value | Residential loans | Jumbo Loans    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment 673,134 791,636
Sequoia Choice    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment 317,303 0
Sequoia Choice | Residential Loans Held For Sale    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment 0 0
Sequoia Choice | Residential Loans | Residential loans | Jumbo Loans    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment 0 0
Sequoia Choice | Residential loans, at lower of cost or fair value | Residential loans    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment 0 0
Sequoia Choice | Residential Loans Held For Investment at Fair Value    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment 317,000  
Sequoia Choice | Residential Loans Held For Investment at Fair Value | Residential loans | Jumbo Loans    
Mortgage Loans on Real Estate [Line Items]    
Loan market valuation adjustment $ 317,303 $ 0
[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 September 30, 2017 and December 31, 2016, assets of consolidated VIEs totaled $995,768 and $798,317, respectively. At September 30, 2017 and December 31, 2016, liabilities of consolidated VIEs totaled $945,873 and $773,980, respectively. See Note 4 for further discussion.