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Residential Loans - Summary of Classifications and Carrying Value of Residential Loans (Details) - USD ($) $ in Thousands		Dec. 31, 2019	Dec. 31, 2018
Residential loans, held-for-sale, at fair value
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment	[1]	$ 536,385	$ 1,048,801
Legacy Sequoia | Residential loans, held-for-investment
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment		408,000	520,000
Sequoia Choice | Residential loans, held-for-investment
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment		2,290,000	2,080,000
Freddie Mac SLST | Residential loans, held-for-investment
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment		2,370,000	1,220,000
Residential Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment		7,714,850	7,254,742
Residential Loans | Residential loans, held-for-sale, at fair value
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment		536,385	1,048,801
Residential Loans | Residential loans, held-for-investment | Jumbo Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment		7,178,465	6,205,941
Residential Loans | Legacy Sequoia
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment		407,890	519,958
Residential Loans | Legacy Sequoia | Residential loans, held-for-sale, at fair value
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment		0	0
Residential Loans | Legacy Sequoia | Residential loans, held-for-investment | Jumbo Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment		407,890	519,958
Residential Loans | Sequoia Choice
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment		2,291,463	2,079,382
Residential Loans | Sequoia Choice | Residential loans, held-for-sale, at fair value
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment		0	0
Residential Loans | Sequoia Choice | Residential loans, held-for-investment | Jumbo Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment		2,291,463	2,079,382
Residential Loans | Freddie Mac SLST
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment		2,367,215	1,222,669
Residential Loans | Freddie Mac SLST | Residential loans, held-for-sale, at fair value
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment		0	0
Residential Loans | Freddie Mac SLST | Residential loans, held-for-investment | Jumbo Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment		2,367,215	1,222,669
Redwood | Residential loans, held-for-investment
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment		2,110,000	2,380,000
Redwood | Residential Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment		2,648,282	3,432,733
Redwood | Residential Loans | Residential loans, held-for-sale, at fair value
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment		536,385	1,048,801
Redwood | Residential Loans | Residential loans, held-for-investment | Jumbo Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment		$ 2,111,897	$ 2,383,932
[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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Amount after allowance and deduction of deferred interest and fees, unamortized costs and premiums and discounts from face amounts, of loans and leases held in portfolio, including but not limited to, commercial and consumer loans. Excludes loans and leases covered under loss sharing agreements and loans held for sale.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=118952595&loc=d3e4428-111522

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

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