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Long-Term Debt - Additional Information (Details) |  |  | 3 Months Ended
--- | --- | --- | ---
Mar. 31, 2020 USD ($) | Dec. 31, 2019 USD ($) | Mar. 31, 2020 USD ($)
Debt Instrument [Line Items] |  |  |  |
Repayments for FHLBC borrowings |  |  |  | $ 632,000,000
FHLBC stock |  | $ 43,393,000 | $ 43,393,000 | 43,393,000
Existing debt |  | 0 | 0 | 0
Accrued interest payable |  | 4,000,000 | 6,000,000 | 4,000,000
Notional amount |  | 9,206,372,000 | 13,589,356,000 | 9,206,372,000
Accrued interest payable | [1] | 40,102,000 | 60,655,000 | 40,102,000
Facilities | MSR/AIOS Repurchase Facility |  |  |  |
Debt Instrument [Line Items] |  |  |  |
Maximum borrowing limit |  | 50,000,000 |  | 50,000,000
Existing debt |  | 30,000,000 |  | 30,000,000
Collateral amounts |  | $ 49,000,000 |  | $ 49,000,000
Facilities | MSR/AIOS Repurchase Facility | LIBOR |  |  |  |
Debt Instrument [Line Items] |  |  |  |
Basis spread on variable rate |  |  |  | 2.75%
Convertible Debt | Exchangeable Senior Notes Due 2025 |  |  |  |
Debt Instrument [Line Items] |  |  |  |
Debt Instrument interest rate |  | 5.75% |  | 5.75%
Unamortized debt issuance costs |  | $ 6,000,000 |  | $ 6,000,000
Convertible notes |  | 201,000,000 |  | $ 201,000,000
Convertible senior notes conversion rate |  |  |  | 0.0551967
Accrued interest payable |  | $ 6,000,000 |  | $ 6,000,000
Convertible Debt | Senior Notes Due 2024 |  |  |  |
Debt Instrument [Line Items] |  |  |  |
Debt Instrument interest rate |  | 5.625% |  | 5.625%
Unamortized debt issuance costs |  | $ 4,000,000 |  | $ 4,000,000
Convertible notes |  | 200,000,000 |  | $ 200,000,000
Convertible senior notes conversion rate |  |  |  | 0.0547645
Accrued interest payable |  | 2,000,000 |  | $ 2,000,000
Unamortized discount |  | $ 1,000,000 |  | $ 1,000,000
Convertible Debt | Senior Notes Due 2023 |  |  |  |
Debt Instrument [Line Items] |  |  |  |
Debt Instrument interest rate |  | 4.75% |  | 4.75%
Unamortized debt issuance costs |  | $ 4,000,000 |  | $ 4,000,000
Convertible notes |  | 245,000,000 |  | $ 245,000,000
Convertible senior notes conversion rate |  |  |  | 0.0543346
Accrued interest payable |  | 1,000,000 |  | $ 1,000,000
Trust Preferred Securities |  |  |  |
Debt Instrument [Line Items] |  |  |  |
Debt instrument face amount |  | 100,000,000 |  | 100,000,000
Subordinated Notes |  |  |  |
Debt Instrument [Line Items] |  |  |  |
Debt instrument face amount |  | 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
FHLB Chicago | FHLB Member Subsidiary |  |  |  |
Debt Instrument [Line Items] |  |  |  |
Federal home loan bank advances outstanding |  | $ 1,370,000,000 | $ 2,000,000,000.00 | $ 1,370,000,000
Weighted average interest rate |  | 1.31% | 1.88% | 1.31%
Weighted average maturity (in years) |  | 5 years | 6 years |
Debt instrument face amount |  | $ 1,367,681,000 |  | $ 1,367,681,000
FHLB Chicago | Redwood | Single-family rental loans held-for-investment | Residential Real Estate |  |  |  |
Debt Instrument [Line Items] |  |  |  |
Loans pledged as collateral under borrowing agreement with FHLBC |  |  | $ 248,000,000 |
FHLB Chicago | Redwood | Held-for-sale residential loans | Residential Real Estate |  |  |  |
Debt Instrument [Line Items] |  |  |  |
Loans pledged as collateral under borrowing agreement with FHLBC |  | 1,430,000,000 |  | 1,430,000,000
FHLB Chicago | Redwood | Held-for-sale residential loans | Restricted cash |  |  |  |
Debt Instrument [Line Items] |  |  |  |
Loans pledged as collateral under borrowing agreement with FHLBC |  | $ 1,000,000 |  | $ 1,000,000
Affiliated Entity | Long Term Non Market To market Recourse Debt Financing |  |  |  |
Debt Instrument [Line Items] |  |  |  |
Debt Instrument interest rate |  | 4.21% |  | 4.21%
Amount outstanding |  | $ 287,000,000 |  | $ 287,000,000
Unamortized debt issuance costs |  | 2,000,000 |  | 2,000,000
Debt instrument face amount |  | 286,000,000 |  | 286,000,000
Pledged assets real estate pledged as collateral, at fair value |  | 258,000,000 |  | 258,000,000
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 |  | 155,000,000 |  | 155,000,000
Affiliated Entity | CAFL | Long Term Non Market To market Recourse Debt Financing |  |  |  |
Debt Instrument [Line Items] |  |  |  |
Pledged assets real estate pledged as collateral, at fair value |  | $ 103,000,000 |  | $ 103,000,000
[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 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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- Definition Including the current and noncurrent portions, carrying value as of the balance sheet date of a written promise to pay a note, initially due after one year or beyond the operating cycle if longer, which can be exchanged for a specified amount of one or more securities (typically common stock), at the option of the issuer or the holder. + 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(16)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(13)) -URI http://asc.fasb.org/extlink&oid=6488278&loc=d3e603758-122996 Reference 3: 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 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)(16)(a)) -URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910 + Details
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- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (b)(1) -URI http://asc.fasb.org/extlink&oid=109500613&loc=SL6031897-161870 Reference 2: 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 Reference 3: 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 4: 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 + 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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