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Short-Term Debt - Additional Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended |  |
--- | --- | --- | --- | --- | ---
Sep. 30, 2018 | Sep. 30, 2018 | Dec. 31, 2017 | Apr. 30, 2018 | Mar. 31, 2013
Short-term Debt [Line Items] |  |  |  |  |  |
Trading securities pledged as collateral |  | $ 668,000,000 | $ 668,000,000 |  |  |
Average balance of short-term debt |  | 1,560,000,000 | 1,470,000,000 |  |  |
Accrued interest payable on short-term debt |  | 3,000,000 | 3,000,000 | $ 2,000,000 |  |
Committed line of credit |  | 10,000,000 | 10,000,000 |  |  |
Fair value of mortgage backed securities securing loan (in excess) |  | 4,000,000 | 4,000,000 |  |  |
Committed line of credit with financial institutions, outstanding |  | 0 | 0 | 0 |  |
Accrued interest payable | [1] | 31,076,000 | 31,076,000 | 18,435,000 |  |
Convertible Debt | Convertible Senior Notes Due 2018 |  |  |  |  |  |
Short-term Debt [Line Items] |  |  |  |  |  |
Convertible notes |  |  |  | 288,000,000 |  | $ 288,000,000
Debt Instrument interest rate |  |  |  |  |  | 4.625%
Unamortized deferred issuance costs |  |  |  | 2,000,000 |  |
Amount of debt repurchased |  |  |  | 37,000,000 | $ 250,000,000 |
Gain (loss) on extinguishment of debt |  |  |  | (1,000,000) |  |
Sequoia securities | Sequoia Choice |  |  |  |  |  |
Short-term Debt [Line Items] |  |  |  |  |  |
Trading securities pledged as collateral |  | 129,000,000 | 129,000,000 |  |  |
Sequoia securities | Freddie Mac K-Series |  |  |  |  |  |
Short-term Debt [Line Items] |  |  |  |  |  |
Trading securities pledged as collateral |  | 11,000,000 | 11,000,000 |  |  |
Residential loans |  |  |  |  |  |
Short-term Debt [Line Items] |  |  |  |  |  |
Loan pledged as collateral |  |  |  | 1,150,000,000 |  |
Residential |  |  |  |  |  |
Short-term Debt [Line Items] |  |  |  |  |  |
Securities pledged as collateral |  | 918,000,000 | 918,000,000 | $ 788,000,000 |  |
Single-family rental loans, held-for-sale at fair value |  |  |  |  |  |
Short-term Debt [Line Items] |  |  |  |  |  |
Collateral amounts |  | 20,000,000 | 20,000,000 |  |  |
Fix and flip loan warehouse |  |  |  |  |  |
Short-term Debt [Line Items] |  |  |  |  |  |
Collateral amounts |  | 92,000,000 | 92,000,000 |  |  |
Residential Loans |  |  |  |  |  |
Short-term Debt [Line Items] |  |  |  |  |  |
Loan pledged as collateral |  | $ 622,000,000 | $ 622,000,000 |  |  |
[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, 2018 and December 31, 2017, assets of consolidated VIEs totaled $3,693,140 and $1,259,774, respectively. At September 30, 2018 and December 31, 2017, liabilities of consolidated VIEs totaled $3,417,835 and $1,167,157, respectively. See Note 4 for further discussion.

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- Definition Including the current and noncurrent portions, carrying value as of the balance sheet date of a written promise to pay a note, initially due after one year or beyond the operating cycle if longer, which can be exchanged for a specified amount of one or more securities (typically common stock), at the option of the issuer or the holder. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(13)) -URI http://asc.fasb.org/extlink&oid=6488278&loc=d3e603758-122996 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)(a)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 + Details
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- Definition The fair value as of the balance sheet date of financial instruments and other positions owned by the entity and pledged to counterparties as collateral, including: (1) mortgages, mortgage-backed and asset backed securities; (2) US government and agency obligations; (3) state and municipal government obligations; (4) other sovereign government debt; (5) corporate obligations; (6) corporate equities; (7) principal investments; (8) derivative contracts; and (9) physical commodities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66007379&loc=d3e113888-111728 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 50 -Paragraph 1A -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=109249958&loc=SL6224234-111729 + Details
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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 + Details
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