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Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on Recurring Basis (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
Fair Value, Measurements, Recurring
Assets
Trading securities		1,054,295	968,844
Available-for-sale securities		399,641	507,666
Derivative assets		65,645	15,718
MSRs		64,674	63,598
Pledged collateral		42,201	42,615
FHLBC stock		43,393	43,393
Guarantee asset		2,936	2,869
Liabilities
Derivative liabilities		55,929	63,081
ABS issued		1,929,662	1,164,585
Fair Value, Measurements, Recurring | Residential Loans
Assets
Residential loans		5,491,055	5,114,317
Fair Value, Measurements, Recurring | Level 1
Assets
Trading securities		0	0
Available-for-sale securities		0	0
Derivative assets		3,186	134
MSRs		0	0
Pledged collateral		42,201	42,615
FHLBC stock		0	0
Guarantee asset		0	0
Liabilities
Derivative liabilities		6,498	3,808
ABS issued		0	0
Fair Value, Measurements, Recurring | Level 1 | Residential Loans
Assets
Residential loans		0	0
Fair Value, Measurements, Recurring | Level 2
Assets
Trading securities		0	0
Available-for-sale securities		0	0
Derivative assets		59,468	10,164
MSRs		0	0
Pledged collateral		0	0
FHLBC stock		43,393	43,393
Guarantee asset		0	0
Liabilities
Derivative liabilities		44,730	55,567
ABS issued		0	0
Fair Value, Measurements, Recurring | Level 2 | Residential Loans
Assets
Residential loans		0	0
Fair Value, Measurements, Recurring | Level 3
Assets
Trading securities		1,054,295	968,844
Available-for-sale securities		399,641	507,666
Derivative assets		2,991	5,420
MSRs		64,674	63,598
Pledged collateral		0	0
FHLBC stock		0	0
Guarantee asset		2,936	2,869
Liabilities
Derivative liabilities		4,701	3,706
ABS issued		1,929,662	1,164,585
Fair Value, Measurements, Recurring | Level 3 | Residential Loans
Assets
Residential loans		$ 5,491,055	$ 5,114,317
[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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