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Summary of Significant Accounting Policies - Offsetting of Financial Assets, Liabilities, and Collateral (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019
--- | --- | ---
Assets |  |  |
Gross Amounts of Recognized Assets (Liabilities) |  | $ 90,717 |
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet | [1] | 90,717 | $ 35,701
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments |  | (89,433) |
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged |  | (1,283) |
Net Amount |  | 1 |
Liabilities |  |  |
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet | [1] | (114,614) | (163,424)
Total Liabilities |  |  |
Gross Amounts of Recognized Assets (Liabilities) |  | (1,631,612) | (1,690,828)
Gross Amounts Offset in Consolidated Balance Sheet |  | 0 | 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet |  | (1,631,612) | (1,690,828)
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments |  | 1,606,583 | 1,548,637
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged |  | 20,882 | 141,260
Net Amount |  | (4,147) | (931)
Interest rate agreements |  |  |
Assets |  |  |
Gross Amounts of Recognized Assets (Liabilities) |  |  | 19,020
Gross Amounts Offset in Consolidated Balance Sheet |  |  | 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet |  |  | 19,020
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments |  |  | (14,178)
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged |  |  | (915)
Net Amount |  |  | 3,927
Liabilities |  |  |
Gross Amounts of Recognized Assets (Liabilities) |  |  | (148,765)
Gross Amounts Offset in Consolidated Balance Sheet |  |  | 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet |  |  | (148,765)
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments |  |  | 14,178
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged |  |  | 134,587
Net Amount |  |  | 0
TBAs |  |  |
Assets |  |  |
Gross Amounts of Recognized Assets (Liabilities) |  | 90,717 | 5,755
Gross Amounts Offset in Consolidated Balance Sheet |  | 0 | 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet |  | 90,717 | 5,755
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments |  | (89,433) | (5,755)
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged |  | (1,283) | 0
Net Amount |  | 1 | 0
Liabilities |  |  |
Gross Amounts of Recognized Assets (Liabilities) |  | (110,648) | (13,359)
Gross Amounts Offset in Consolidated Balance Sheet |  | 0 | 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet |  | (110,648) | (13,359)
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments |  | 89,433 | 5,755
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged |  | 19,308 | 6,673
Net Amount |  | (1,907) | (931)
Futures |  |  |
Assets |  |  |
Gross Amounts of Recognized Assets (Liabilities) |  |  | 137
Gross Amounts Offset in Consolidated Balance Sheet |  |  | 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet |  |  | 137
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments |  |  | 0
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged |  |  | 0
Net Amount |  |  | 137
Interest Rate Agreement, TBAs, and Futures |  |  |
Assets |  |  |
Gross Amounts of Recognized Assets (Liabilities) |  |  | 24,912
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet |  |  | 24,912
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments |  |  | (19,933)
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged |  |  | (915)
Net Amount |  |  | 4,064
Loan warehouse debt |  |  |
Loan warehouse debt and Security repurchase agreement |  |  |
Gross Amounts of Recognized Assets (Liabilities) |  | (1,035,817) | (432,126)
Gross Amounts Offset in Consolidated Balance Sheet |  | 0 | 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet |  | (1,035,817) | (432,126)
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments |  | 1,034,622 | 432,126
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged |  | 0 | 0
Net Amount |  | (1,195) |
Security repurchase agreements |  |  |
Loan warehouse debt and Security repurchase agreement |  |  |
Gross Amounts of Recognized Assets (Liabilities) |  | (485,147) | (1,096,578)
Gross Amounts Offset in Consolidated Balance Sheet |  | 0 | 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet |  | (485,147) | (1,096,578)
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments |  | 482,528 | 1,096,578
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged |  | 1,574 | 0
Net Amount |  | $ (1,045) | $ 0
[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, 2020 and December 31, 2019, assets of consolidated VIEs totaled $7,470,706 and $11,931,869, respectively. At March 31, 2020 and December 31, 2019, liabilities of consolidated VIEs totaled $6,759,260 and $10,717,072, respectively. See Note 4 for further discussion.

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