XML 68 R81.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018
--- | --- | ---
Assets |  |  |
Trading securities |  | $ 860,540 | $ 1,118,612
Available-for-sale securities |  | 239,334 | 333,882
Derivative assets | [1] | 35,701 | 35,789
Pledged collateral |  | 32,945 | 42,433
Liabilities |  |  |
Contingent consideration |  | 28,484 | 0
Derivative liabilities | [1] | 163,424 | 84,855
Fair Value, Measurements, Recurring |  |  |
Assets |  |  |
Business purpose residential loans |  | 3,506,743 | 141,258
Multifamily loans |  | 4,408,524 | 2,144,598
Trading securities |  | 860,540 | 1,118,612
Available-for-sale securities |  | 239,334 | 333,882
Servicer advance investments |  | 169,204 | 300,468
MSR Fair Value |  | 42,224 | 60,281
Excess MSRs |  | 31,814 | 27,312
Shared home appreciation options |  | 45,085 |
Derivative assets |  | 35,701 | 35,789
Pledged collateral |  | 32,945 | 42,433
FHLBC stock |  | 43,393 | 43,393
Guarantee asset |  | 1,686 | 2,618
Liabilities |  |  |
Contingent consideration |  | 28,484 |
Derivative liabilities |  | 163,424 | 84,855
ABS issued |  | 10,515,475 | 5,410,073
Fair Value, Measurements, Recurring | Residential Loans |  |  |
Assets |  |  |
Residential loans |  | 7,714,745 | 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
MSR Fair Value |  | 0 | 0
Excess MSRs |  | 0 | 0
Shared home appreciation options |  | 0 |
Derivative assets |  | 6,531 | 4,665
Pledged collateral |  | 32,945 | 42,433
FHLBC stock |  | 0 | 0
Guarantee asset |  | 0 | 0
Liabilities |  |  |
Contingent consideration |  | 0 |
Derivative liabilities |  | 13,368 | 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
MSR Fair Value |  | 0 | 0
Excess MSRs |  | 0 | 0
Shared home appreciation options |  | 0 |
Derivative assets |  | 19,020 | 28,211
Pledged collateral |  | 0 | 0
FHLBC stock |  | 43,393 | 43,393
Guarantee asset |  | 0 | 0
Liabilities |  |  |
Contingent consideration |  | 0 |
Derivative liabilities |  | 148,766 | 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 |  | 3,506,743 | 141,258
Multifamily loans |  | 4,408,524 | 2,144,598
Trading securities |  | 860,540 | 1,118,612
Available-for-sale securities |  | 239,334 | 333,882
Servicer advance investments |  | 169,204 | 300,468
MSR Fair Value |  | 42,224 | 60,281
Excess MSRs |  | 31,814 | 27,312
Shared home appreciation options |  | 45,085 |
Derivative assets |  | 10,150 | 2,913
Pledged collateral |  | 0 | 0
FHLBC stock |  | 0 | 0
Guarantee asset |  | 1,686 | 2,618
Liabilities |  |  |
Contingent consideration |  | 28,484 |
Derivative liabilities |  | 1,290 | 732
ABS issued |  | 10,515,475 | 5,410,073
Fair Value, Measurements, Recurring | Level 3 | Residential Loans |  |  |
Assets |  |  |
Residential loans |  | $ 7,714,745 | $ 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 December 31, 2019 and December 31, 2018, assets of consolidated VIEs totaled $11,931,869 and $6,331,191, respectively. At December 31, 2019 and December 31, 2018, liabilities of consolidated VIEs totaled $10,717,072 and $5,709,807, respectively. See Note 4 for further discussion.

X
- Definition Business Purpose Loans, Fair Value Disclosure + References No definition available. + Details
Name: | rwt_BusinessPurposeLoansFairValueDisclosure
Namespace Prefix: | rwt_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Excess Mortgage Servicing Rights, IOs + References No definition available. + Details
Name: | rwt_ExcessMortgageServicingRightsIOs
Namespace Prefix: | rwt_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Guarantees Asset, Fair Value Disclosure + References No definition available. + Details
Name: | rwt_GuaranteesAssetFairValueDisclosure
Namespace Prefix: | rwt_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Home Appreciation Options, Fair value Disclosure + References No definition available. + Details
Name: | rwt_HomeAppreciationOptionsFairvalueDisclosure
Namespace Prefix: | rwt_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Multifamily Loans, Fair Value Disclosure + References No definition available. + Details
Name: | rwt_MultifamilyLoansFairValueDisclosure
Namespace Prefix: | rwt_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Servicer Advance Investments + References No definition available. + Details
Name: | rwt_ServicerAdvanceInvestments
Namespace Prefix: | rwt_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- References No definition available. + Details
Name: | us-gaap_AssetsFairValueDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118942338&loc=SL82898722-210454 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118954083&loc=d3e26610-111562 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (aa) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27161-111563 + Details
Name: | us-gaap_AvailableForSaleSecuritiesDebtSecurities
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount of liability recognized arising from contingent consideration in a business combination. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6927-128479 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 35 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=116859824&loc=d3e6819-128478 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 25 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6911189&loc=d3e6408-128476 + Details
Name: | us-gaap_BusinessCombinationContingentConsiderationLiability
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Fair value portion of debt instrument payable, including, but not limited to, notes payable and loans payable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13433-108611 + Details
Name: | us-gaap_DebtInstrumentFairValue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=99393222&loc=SL20226008-175313 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13433-108611 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 + Details
Name: | us-gaap_DerivativeAssets
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13433-108611 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=99393222&loc=SL20226008-175313 + Details
Name: | us-gaap_DerivativeLiabilities
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Fair value portion of investments in Federal Home Loan Bank (FHLBank) stock. + References No definition available. + Details
Name: | us-gaap_InvestmentInFederalHomeLoanBankStockFairValueDisclosure
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- References No definition available. + Details
Name: | us-gaap_LiabilitiesFairValueDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The fair value, as of the date of each statement of financial position presented, of other assets which are owned but transferred to serve as collateral for the payment of the related debt obligation, and that are reclassified and separately reported in the statement of financial position because the transferee has the right by contract or custom to sell or re-pledge them. + 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 + Details
Name: | us-gaap_PledgedAssetsSeparatelyReportedOtherAssetsPledgedAsCollateralAtFairValue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Fair value portion of receivables, including, but not limited to, trade account receivables, note receivables, and loan receivables. + 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(4)) -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(7)) -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 210 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-02(3)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13728-122682 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)(5)) -URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910 + Details
Name: | us-gaap_ReceivablesFairValueDisclosure
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Fair value of an asset representing net future revenue from contractually specified servicing fees, late charges, and other ancillary revenues, in excess of future costs related to servicing arrangements. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6469459&loc=d3e122501-111745 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 3 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122625-111746 + Details
Name: | us-gaap_ServicingAssetAtFairValueAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount of investment in debt security measured at fair value with change in fair value recognized in net income (trading) and investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI). + 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 210.9-03.4) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
Name: | us-gaap_TradingSecurities
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Details
Name: | us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=rwt_ResidentialLoansAtFairValueMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |