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Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands		Mar. 31, 2019	Dec. 31, 2018
Assets
Trading securities		$ 1,255,224	$ 1,118,612
Available-for-sale securities		287,928	333,882
MSRs		281,762	286,778
Derivative assets	[1]	22,283	35,789
Pledged collateral		42,631	42,433
Liabilities
Contingent consideration		24,621	0
Derivative liabilities	[1]	110,942	84,855
Fair Value, Measurements, Recurring
Assets
Business purpose residential loans		160,612	141,258
Multifamily loans		2,175,899	2,144,598
Trading securities		1,255,224	1,118,612
Available-for-sale securities		287,928	333,882
Servicer advance investments		303,920	300,468
MSRs		55,284	60,281
Excess MSRs		28,992	27,312
Derivative assets		22,283	35,789
Pledged collateral		42,631	42,433
FHLBC stock		43,393	43,393
Guarantee asset		2,342	2,618
Liabilities
Contingent consideration		24,621
Derivative liabilities		110,942	84,855
ABS issued		5,637,644	5,410,073
Fair Value, Measurements, Recurring | Residential Loans
Assets
Residential loans		7,274,191	7,254,631
Fair Value, Measurements, Recurring | Level 1
Assets
Business purpose residential loans		0	0
Multifamily loans		0	0
Trading securities		0	0
Available-for-sale securities		0	0
Servicer advance investments		0	0
MSRs		0	0
Excess MSRs		0	0
Derivative assets		5,826	4,665
Pledged collateral		42,631	42,433
FHLBC stock		0	0
Guarantee asset		0	0
Liabilities
Contingent consideration		0
Derivative liabilities		9,609	13,215
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 residential loans		0	0
Multifamily loans		0	0
Trading securities		0	0
Available-for-sale securities		0	0
Servicer advance investments		0	0
MSRs		0	0
Excess MSRs		0	0
Derivative assets		11,490	28,211
Pledged collateral		0	0
FHLBC stock		43,393	43,393
Guarantee asset		0	0
Liabilities
Contingent consideration		0
Derivative liabilities		100,561	70,908
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 residential loans		160,612	141,258
Multifamily loans		2,175,899	2,144,598
Trading securities		1,255,224	1,118,612
Available-for-sale securities		287,928	333,882
Servicer advance investments		303,920	300,468
MSRs		55,284	60,281
Excess MSRs		28,992	27,312
Derivative assets		4,967	2,913
Pledged collateral		0	0
FHLBC stock		0	0
Guarantee asset		2,342	2,618
Liabilities
Contingent consideration		24,621
Derivative liabilities		772	732
ABS issued		5,637,644	5,410,073
Fair Value, Measurements, Recurring | Level 3 | Residential Loans
Assets
Residential loans		$ 7,274,191	$ 7,254,631
[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.

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