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Fair Value of Financial Instruments - Carrying Values and Estimated Fair Values of Assets and Liabilities (Details) - USD ($) $ in Thousands		Jun. 30, 2018	Dec. 31, 2017
Assets
Trading securities		$ 1,054,295	$ 968,844
Available-for-sale securities		399,641	507,666
Derivative assets	[1]	65,645	15,718
Pledged collateral		42,201	42,615
Liabilities
Derivative liabilities	[1]	55,929	63,081
Carrying Value
Assets
Trading securities		1,054,295	968,844
Available-for-sale securities		399,641	507,666
Cash and cash equivalents		184,779	144,663
Restricted cash		15,285	2,144
Accrued interest receivable		29,066	27,013
Derivative assets		65,645	15,718
MSRs		64,674	63,598
REO		2,649	3,354
Margin receivable		49,538	85,044
FHLBC stock		43,393	43,393
Guarantee asset		2,936	2,869
Pledged collateral		42,201	42,615
Participation in loan warehouse facility		41,658	0
Liabilities
Short-term debt facilities		1,426,288	1,688,412
Accrued interest payable		21,925	18,435
Margin payable		7,282	390
Guarantee obligation		18,124	19,487
Derivative liabilities		55,929	63,081
ABS issued at fair value, net		1,929,662	1,164,585
FHLBC long-term borrowings		1,999,999	1,999,999
Convertible notes, net		631,663	686,759
Trust preferred securities and subordinated notes, net		138,559	138,535
Carrying Value | Residential loans | Residential Loans
Assets
Loans, held-for-sale		1,104,545	1,427,052
Carrying Value | Residential loans | Residential loans, at lower of cost or fair value
Assets
Loans, held-for-sale		115	893
Carrying Value | Residential loans | Residential Loans Held For Investment at Fair Value
Assets
Loans receivable, fair value		4,386,510	3,687,265
Fair Value
Assets
Trading securities		1,054,295	968,844
Available-for-sale securities		399,641	507,666
Cash and cash equivalents		184,779	144,663
Restricted cash		15,285	2,144
Accrued interest receivable		29,066	27,013
Derivative assets		65,645	15,718
MSRs		64,674	63,598
REO		3,534	3,806
Margin receivable		49,538	85,044
FHLBC stock		43,393	43,393
Guarantee asset		2,936	2,869
Pledged collateral		42,201	42,615
Participation in loan warehouse facility		41,658	0
Liabilities
Short-term debt facilities		1,426,288	1,688,412
Accrued interest payable		21,925	18,435
Margin payable		7,282	390
Guarantee obligation		17,903	18,878
Derivative liabilities		55,929	63,081
ABS issued at fair value, net		1,929,662	1,164,585
FHLBC long-term borrowings		1,999,999	1,999,999
Convertible notes, net		639,204	692,369
Trust preferred securities and subordinated notes, net		107,415	103,230
Fair Value | Residential loans | Residential Loans
Assets
Loans, held-for-sale		1,104,545	1,427,052
Fair Value | Residential loans | Residential loans, at lower of cost or fair value
Assets
Loans, held-for-sale		135	993
Fair Value | Residential loans | Residential Loans Held For Investment at Fair Value
Assets
Loans receivable, fair value		$ 4,386,510	$ 3,687,265
[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 June 30, 2018 and December 31, 2017, assets of consolidated VIEs totaled $2,082,771 and $1,259,774, respectively. At June 30, 2018 and December 31, 2017, liabilities of consolidated VIEs totaled $1,935,299 and $1,167,157, respectively. See Note 4 for further discussion.

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