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Long-Term Debt - Additional Information (Details) |  |  | 1 Months Ended | 12 Months Ended |  |
--- | --- | --- | --- | --- | --- | ---
Dec. 31, 2019 USD ($) $ / shares | Dec. 31, 2018 USD ($) | Sep. 30, 2019 USD ($) | Jun. 30, 2018 USD ($) $ / shares | Aug. 31, 2017 USD ($) $ / shares | Jan. 31, 2016 | Nov. 30, 2014 USD ($) $ / shares | Dec. 31, 2019 USD ($) $ / shares | Dec. 31, 2016 USD ($) | Nov. 30, 2019 USD ($) | Dec. 31, 2013 USD ($)
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
FHLB transition period |  |  |  |  |  |  | 5 years |  |  |  |  |
Committed line of credit with financial institutions, outstanding |  | $ 0 | $ 0 |  |  |  |  |  | $ 0 |  |  |
Federal home loan bank stock |  | 43,393,000 | 43,393,000 |  |  |  |  |  | 43,393,000 |  |  |
Accrued interest payable |  | 6,000,000 | 4,000,000 |  |  |  |  |  | 6,000,000 |  |  |
Convertible notes |  |  | 201,000,000 |  |  |  |  |  |  |  | $ 201,000,000 |
Notional amount |  | 13,589,356,000 | 5,911,385,000 |  |  |  |  |  | 13,589,356,000 |  |  |
Accrued interest payable | [1] | 60,655,000 | 42,528,000 |  |  |  |  |  | 60,655,000 |  |  |
Convertible notes | Exchangeable Senior Notes Due 2025 |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Debt instrument interest rate |  |  |  | 5.75% |  |  |  |  |  |  |  |
Unamortized deferred issuance costs |  | 6,000,000 |  |  |  |  |  |  | 6,000,000 |  |  |
Convertible notes |  | $ 201,000,000 |  | $ 201,000,000 |  |  |  |  | $ 201,000,000 |  |  |
Net proceeds from issuance of convertible debt |  |  |  | $ 195,000,000 |  |  |  |  |  |  |  |
Interest expense yield |  |  |  | 6.30% |  |  |  |  |  |  |  |
Convertible debt, conversion ratio |  | 0.0551967 |  |  |  |  |  |  |  |  |  |
Convertible senior notes conversion per share (in dollars per share) | $ / shares |  | $ 18.12 |  |  |  |  |  |  | $ 18.12 |  |  |
Accrued interest payable |  | $ 3,000,000 |  |  |  |  |  |  | $ 3,000,000 |  |  |
Convertible notes | Senior Notes Due 2024 |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Debt instrument interest rate |  |  |  |  | 5.625% |  |  |  |  |  |  |
Unamortized deferred issuance costs |  | 4,000,000 |  |  |  |  |  |  | 4,000,000 |  |  |
Convertible notes |  | 200,000,000 |  |  | $ 200,000,000 |  |  |  | 200,000,000 |  |  |
Net proceeds from issuance of convertible debt |  |  |  |  | $ 194,000,000 |  |  |  |  |  |  |
Interest expense yield |  |  |  |  | 6.20% |  |  |  |  |  |  |
Convertible debt, conversion ratio |  |  |  |  | 0.0547645 |  |  |  |  |  |  |
Convertible senior notes conversion per share (in dollars per share) | $ / shares |  |  |  |  | $ 18.26 |  |  |  |  |  |  |
Accrued interest payable |  | 5,000,000 |  |  |  |  |  |  | 5,000,000 |  |  |
Percent of par at issuance |  |  |  |  | 99.50% |  |  |  |  |  |  |
Debt discount |  | 1,000,000 |  |  |  |  |  |  | 1,000,000 |  |  |
Convertible notes | Senior Notes Due 2023 |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Debt instrument interest rate |  |  |  |  |  | 4.75% |  |  |  |  |  |
Unamortized deferred issuance costs |  | 5,000,000 |  |  |  |  |  |  | 5,000,000 |  |  |
Convertible notes |  | 245,000,000 |  |  |  | $ 245,000,000 |  |  | 245,000,000 |  |  |
Net proceeds from issuance of convertible debt |  |  |  |  |  | $ 238,000,000 |  |  |  |  |  |
Interest expense yield |  |  |  |  |  | 5.30% |  |  |  |  |  |
Convertible debt, conversion ratio |  |  |  |  |  | 0.0543346 |  |  |  |  |  |
Convertible senior notes conversion per share (in dollars per share) | $ / shares |  |  |  |  |  | $ 18.40 |  |  |  |  |  |
Accrued interest payable |  | 4,000,000 |  |  |  |  |  |  | 4,000,000 |  |  |
Convertible notes | Exchangeable senior notes due 2019 |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Debt instrument interest rate |  |  |  |  |  |  |  | 5.625% |  |  |  |
Convertible notes |  |  |  |  |  |  |  | $ 205,000,000 |  |  |  |
Net proceeds from issuance of convertible debt |  |  |  |  |  |  |  | $ 198,000,000 |  |  |  |
Interest expense yield |  |  |  |  |  |  |  | 6.30% |  |  |  |
Convertible debt, conversion ratio |  |  |  |  |  |  |  | 0.0465404 |  |  |  |
Convertible senior notes conversion per share (in dollars per share) | $ / shares |  |  |  |  |  |  |  | $ 21.49 |  |  |  |
Repurchased debt instrument, face amount |  |  |  |  |  |  |  |  |  | $ 4,000,000 |  |
Deferred debt issuance costs |  |  | 1,000,000 |  |  |  |  |  |  |  |  |
Convertible notes | Exchangeable senior notes due 2019 | Gain (Loss) on Investments |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Gain (loss) on extinguishment of debt |  |  |  |  |  |  |  |  |  | $ 300,000 |  |
Trust Preferred Securities |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Long-term debt, net |  | 100,000,000 |  |  |  |  |  |  | $ 100,000,000 |  |  |
Interest expense yield on trust preferred securities and subordinated notes |  |  |  |  |  |  |  |  | 6.90% |  |  |
Subordinated Notes |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Long-term debt, net |  | 40,000,000 |  |  |  |  |  |  | $ 40,000,000 |  |  |
Trust Preferred Securities and Subordinated Notes |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Accrued interest payable |  | 1,000,000 | 1,000,000 |  |  |  |  |  | $ 1,000,000 |  |  |
Trust Preferred Securities and Subordinated Notes | Interest rate agreements |  |  |  |  |  |  |  |  |  |  |  |
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% |  |  |
Affiliated Entity | Long Term Non Market To market Recourse Debt Financing |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Debt instrument interest rate |  |  |  | 4.21% |  |  |  |  |  |  |  |
Long-term debt, gross |  | 185,000,000 |  |  |  |  |  |  | $ 185,000,000 |  |  |
Unamortized deferred issuance costs |  | 1,000,000 |  |  |  |  |  |  | 1,000,000 |  |  |
Long-term debt, net |  | 184,000,000 |  |  |  |  |  |  | 184,000,000 |  |  |
Pledged assets real estate pledged as collateral, at fair value |  | 250,000,000 |  |  |  |  |  |  | 250,000,000 |  |  |
Affiliated Entity | Sequoia Choice | Long Term Non Market To market Recourse Debt Financing |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Pledged assets real estate pledged as collateral, at fair value |  | 125,000,000 |  |  |  |  |  |  | $ 125,000,000 |  |  |
FHLB Chicago |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Interest rate margin reset period |  |  |  |  |  |  |  |  | 91 days |  |  |
FHLB Chicago | Subsidiaries |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Additional borrowings from FHLB |  |  |  |  |  |  |  |  | $ 0 |  |  |
FHLB Chicago | FHLB Subsidiary |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Maximum borrowing capacity |  | 2,000,000,000.00 |  |  |  |  |  |  | 2,000,000,000.00 |  |  |
Committed line of credit with financial institutions, outstanding |  | 2,000,000,000.00 |  |  |  |  |  |  | 2,000,000,000.00 |  |  |
Outstanding FHLB advances |  | $ 2,000,000,000.00 | $ 2,000,000,000.00 |  |  |  |  |  | $ 2,000,000,000.00 |  |  |
Weighted average interest rate |  | 1.88% | 2.52% |  |  |  |  |  | 1.88% |  |  |
Weighted average maturity (in years) |  | 6 years | 7 years |  |  |  |  |  |  |  |  |
Long-term debt, net |  | $ 1,999,999,000 |  |  |  |  |  |  | $ 1,999,999,000 |  |  |
FHLB Chicago | Redwood | Held-for sale residential loans | Residential Real Estate |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage loans securing FHLB advances |  | 2,100,000,000 |  |  |  |  |  |  | 2,100,000,000 |  |  |
FHLB Chicago | Redwood | Held-for sale residential loans | Equity Securities |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage loans securing FHLB advances |  | 39,000,000 |  |  |  |  |  |  | 39,000,000 |  |  |
FHLB Chicago | Redwood | Held-for sale residential loans | Restricted cash |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage loans securing FHLB advances |  | 59,000,000 |  |  |  |  |  |  | 59,000,000 |  |  |
FHLB Chicago | Redwood | Single-family rental loans held-for-investment | Residential Real Estate |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage loans securing FHLB advances |  | $ 211,000,000 |  |  |  |  |  |  | $ 211,000,000 |  |  |
[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 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.

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- Definition Amount of the collateral pledged in support of federal home loan bank advances outstanding. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822 + Details
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- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 50 -Section 40 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=117329964&loc=d3e12355-112629 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 50 -Section 40 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=117329964&loc=d3e12317-112629 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 + Details
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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + 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(22)) -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(16)) -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 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910 + Details
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- Definition The fair value, as of the date of each statement of financial position presented, of real estate which is owned but transferred to serve as collateral for the payment of the related debt obligation, and that is 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 it. + 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
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