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Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands		Sep. 30, 2018	Dec. 31, 2017
Assets
Trading securities		$ 1,108,243	$ 968,844
Available-for-sale securities		361,841	507,666
Derivative assets	[1]	87,219	15,718
Pledged collateral		42,127	42,615
Liabilities
Derivative liabilities	[1]	42,724	63,081
Fair Value, Measurements, Recurring
Assets
Business purpose loans		115,620
Multifamily loans		942,165
Trading securities		1,108,243	968,844
Available-for-sale securities		361,841	507,666
Derivative assets		87,219	15,718
MSRs		63,785	63,598
Pledged collateral		42,127	42,615
FHLBC stock		43,393	43,393
Guarantee asset		2,885	2,869
Liabilities
Derivative liabilities		42,724	63,081
ABS issued		3,406,985	1,164,585
Fair Value, Measurements, Recurring | Residential Loans
Assets
Residential loans		5,922,146	5,114,317
Fair Value, Measurements, Recurring | Level 1
Assets
Business purpose loans		0
Multifamily loans		0
Trading securities		0	0
Available-for-sale securities		0	0
Derivative assets		7,031	134
MSRs		0	0
Pledged collateral		42,127	42,615
FHLBC stock		0	0
Guarantee asset		0	0
Liabilities
Derivative liabilities		1,744	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
Business purpose loans		0
Multifamily loans		0
Trading securities		0	0
Available-for-sale securities		0	0
Derivative assets		78,006	10,164
MSRs		0	0
Pledged collateral		0	0
FHLBC stock		43,393	43,393
Guarantee asset		0	0
Liabilities
Derivative liabilities		38,581	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
Business purpose loans		115,620
Multifamily loans		942,165
Trading securities		1,108,243	968,844
Available-for-sale securities		361,841	507,666
Derivative assets		2,182	5,420
MSRs		63,785	63,598
Pledged collateral		0	0
FHLBC stock		0	0
Guarantee asset		2,885	2,869
Liabilities
Derivative liabilities		2,399	3,706
ABS issued		3,406,985	1,164,585
Fair Value, Measurements, Recurring | Level 3 | Residential Loans
Assets
Residential loans		$ 5,922,146	$ 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 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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