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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, 2019	Dec. 31, 2018
Assets
Trading securities		$ 1,205,389	$ 1,118,612
Available-for-sale securities		272,097	333,882
MSRs		236,632	286,778
Derivative assets	[1]	26,609	35,789
Pledged collateral		42,913	42,433
Liabilities
Contingent consideration		24,932	0
Derivative liabilities	[1]	173,847	84,855
Fair Value, Measurements, Recurring
Assets
Business purpose residential loans		250,854	141,258
Multifamily loans		3,749,657	2,144,598
Trading securities		1,205,389	1,118,612
Available-for-sale securities		272,097	333,882
Servicer advance investments		259,222	300,468
MSRs		47,396	60,281
Excess MSRs		33,620	27,312
Derivative assets		26,609	35,789
Pledged collateral		42,913	42,433
FHLBC stock		43,393	43,393
Guarantee asset		1,999	2,618
Liabilities
Contingent consideration		24,932
Derivative liabilities		173,847	84,855
ABS issued		6,913,129	5,410,073
Fair Value, Measurements, Recurring | Residential Loans
Assets
Residential loans		7,283,256	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		1,784	4,665
Pledged collateral		42,913	42,433
FHLBC stock		0	0
Guarantee asset		0	0
Liabilities
Contingent consideration		0
Derivative liabilities		4,639	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		19,258	28,211
Pledged collateral		0	0
FHLBC stock		43,393	43,393
Guarantee asset		0	0
Liabilities
Contingent consideration		0
Derivative liabilities		168,436	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		250,854	141,258
Multifamily loans		3,749,657	2,144,598
Trading securities		1,205,389	1,118,612
Available-for-sale securities		272,097	333,882
Servicer advance investments		259,222	300,468
MSRs		47,396	60,281
Excess MSRs		33,620	27,312
Derivative assets		5,567	2,913
Pledged collateral		0	0
FHLBC stock		0	0
Guarantee asset		1,999	2,618
Liabilities
Contingent consideration		24,932
Derivative liabilities		772	732
ABS issued		6,913,129	5,410,073
Fair Value, Measurements, Recurring | Level 3 | Residential Loans
Assets
Residential loans		$ 7,283,256	$ 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 June 30, 2019 and December 31, 2018, assets of consolidated VIEs totaled $7,937,685 and $6,331,191, respectively. At June 30, 2019 and December 31, 2018, liabilities of consolidated VIEs totaled $7,189,086 and $5,709,807, respectively. See Note 4 for further discussion.

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