XML 125 R111.htm IDEA: XBRL DOCUMENT v3.19.1
Long-Term Debt - Additional Information (Details) - USD ($)
 1 Months Ended 3 Months Ended 12 Months Ended
Dec. 31, 2018
Jun. 30, 2018
Aug. 31, 2017
Jan. 31, 2016
Nov. 30, 2014
Mar. 31, 2019
Dec. 31, 2016
Nov. 15, 2018
Dec. 31, 2013
Debt Instrument [Line Items]                  
Transition period for subsidiary to be a FHLB-member (in years)       5 years          
Existing debt $ 0         $ 0      
Federal home loan bank stock 43,393,000         43,393,000      
Accrued interest payable 4,000,000         4,000,000      
Convertible notes               $ 201,000,000  
Notional amount 5,911,385,000         7,052,359,000      
Accrued interest payable [1] 42,528,000         39,526,000      
Trust Preferred Securities                  
Debt Instrument [Line Items]                  
Debt instrument face amount           100,000,000      
Subordinated Notes                  
Debt Instrument [Line Items]                  
Debt instrument face amount           $ 40,000,000      
Trust Preferred Securities And Subordinated Notes                  
Debt Instrument [Line Items]                  
Weighted average interest rates, by series           6.80%      
Accrued interest payable $ 1,000,000         $ 1,000,000      
Trust Preferred Securities And Subordinated Notes | Interest rate swaps                  
Debt Instrument [Line Items]                  
Notional amount                 $ 140,000,000
Trust Preferred Securities And Subordinated Notes | LIBOR                  
Debt Instrument [Line Items]                  
Basis spread on variable rate           2.25%      
Senior Notes Due 2024 | Convertible Debt                  
Debt Instrument [Line Items]                  
Convertible notes   $ 200,000,000       $ 200,000,000      
Debt Instrument interest rate   5.625%              
Debt instrument, percent of par   99.50%              
Net proceeds from issuance of convertible debt   $ 194,000,000              
Interest expense yield           6.20%      
Convertible senior notes conversion rate           0.0547645      
Convertible senior notes conversion per share (in dollars per share)   $ 18.26              
Accrued interest payable           $ 2,000,000      
Unamortized debt issuance costs           4,000,000      
Unamortized discount           1,000,000      
Senior Notes Due 2023 | Convertible Debt                  
Debt Instrument [Line Items]                  
Convertible notes     $ 245,000,000     $ 245,000,000      
Debt Instrument interest rate     4.75%            
Debt Instrument Maturity Year     2023            
Net proceeds from issuance of convertible debt     $ 238,000,000            
Interest expense yield     5.30%            
Convertible senior notes conversion rate           0.0539060      
Convertible senior notes conversion per share (in dollars per share)     $ 18.55            
Accrued interest payable           $ 1,000,000      
Unamortized debt issuance costs           6,000,000      
Exchangeable Senior Notes Due 2019 | Convertible Debt                  
Debt Instrument [Line Items]                  
Convertible notes         $ 205,000,000 $ 201,000,000      
Debt Instrument interest rate 5.625%       5.625%        
Debt Instrument Redemption Date         Nov. 15, 2019        
Debt Instrument Maturity Year         2019        
Net proceeds from issuance of convertible debt         $ 198,000,000        
Interest expense yield         6.30%        
Convertible senior notes conversion rate           0.0462370      
Convertible senior notes conversion per share (in dollars per share)         $ 21.63        
Accrued interest payable           $ 4,000,000      
Unamortized debt issuance costs           $ 1,000,000      
Amount of debt repurchased             $ 4,000,000    
Unamortized deferred issuance costs $ 1,000,000                
Exchangeable Senior Notes Due 2019 | Convertible Debt | Gain (loss) on investments                  
Debt Instrument [Line Items]                  
Gain on extinguishment of debt             $ 300,000    
FHLB Chicago                  
Debt Instrument [Line Items]                  
Interest rate margin reset period           91 days      
FHLB Chicago | FHLB Member Subsidiary                  
Debt Instrument [Line Items]                  
Maximum borrowing limit           $ 2,000,000,000      
Additional borrowings from FHLBC           0      
Existing debt           2,000,000,000      
Federal home loan bank advances outstanding $ 2,000,000,000         $ 2,000,000,000      
Weighted average interest rate 2.52%         2.65%      
Weighted average maturity (in years) 7 years         6 years      
FHLB Chicago | Redwood | Held-for-sale residential loans | Residential Real Estate                  
Debt Instrument [Line Items]                  
Loans pledged as collateral under borrowing agreement with FHLBC           $ 2,410,000,000      
[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 March 31, 2019 and December 31, 2018, assets of consolidated VIEs totaled $6,585,881 and $6,331,191, respectively. At March 31, 2019 and December 31, 2018, liabilities of consolidated VIEs totaled $5,925,677 and $5,709,807, respectively. See Note 4 for further discussion.