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Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands		Mar. 31, 2020	Dec. 31, 2019
Assets
Trading securities		$ 164,219	$ 860,540
Available-for-sale securities		129,243	239,334
MSRs		282,743	151,582
Derivative assets	[1]	90,717	35,701
Pledged collateral		33,191	32,945
Liabilities
Contingent consideration		14,819	28,484
Derivative liabilities	[1]	114,614	163,424
Fair Value, Measurements, Recurring
Assets
Business purpose residential loans		3,463,742	3,506,743
Multifamily loans		470,484	4,408,524
Trading securities		164,219	860,540
Available-for-sale securities		129,243	239,334
Servicer advance investments		298,946	169,204
MSRs		23,616	42,224
Excess MSRs		31,788	31,814
Shared home appreciation options		40,642	45,085
Derivative assets		90,717	35,701
Pledged collateral		33,191	32,945
FHLBC stock		43,393	43,393
Guarantee asset		905	1,686
Liabilities
Contingent consideration		14,819	28,484
Derivative liabilities		114,614	163,424
ABS issued		6,461,864	10,515,475
Fair Value, Measurements, Recurring | Residential Loans
Assets
Residential loans		6,711,025	7,714,745
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
MSRs		0	0
Excess MSRs		0	0
Shared home appreciation options		0	0
Derivative assets		90,717	6,531
Pledged collateral		33,191	32,945
FHLBC stock		0	0
Guarantee asset		0	0
Liabilities
Contingent consideration		0	0
Derivative liabilities		110,648	13,368
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
MSRs		0	0
Excess MSRs		0	0
Shared home appreciation options		0	0
Derivative assets		0	19,020
Pledged collateral		0	0
FHLBC stock		43,393	43,393
Guarantee asset		0	0
Liabilities
Contingent consideration		0	0
Derivative liabilities		0	148,766
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		3,463,742	3,506,743
Multifamily loans		470,484	4,408,524
Trading securities		164,219	860,540
Available-for-sale securities		129,243	239,334
Servicer advance investments		298,946	169,204
MSRs		23,616	42,224
Excess MSRs		31,788	31,814
Shared home appreciation options		40,642	45,085
Derivative assets		0	10,150
Pledged collateral		0	0
FHLBC stock		0	0
Guarantee asset		905	1,686
Liabilities
Contingent consideration		14,819	28,484
Derivative liabilities		3,966	1,290
ABS issued		6,461,864	10,515,475
Fair Value, Measurements, Recurring | Level 3 | Residential Loans
Assets
Residential loans		6,711,025	7,714,745
Residential Loans
Assets
MSRs		298,946	169,204
Fair Value
Assets
Trading securities		164,219	860,540
Available-for-sale securities		129,243	239,334
Derivative assets		90,717	35,701
Pledged collateral		33,191	32,945
FHLBC stock		43,393	43,393
Guarantee asset		905	1,686
Liabilities
Contingent consideration		14,819	28,484
Derivative liabilities		114,614	163,424
ABS issued		6,461,864	10,515,475
Carrying Value
Assets
Trading securities		164,219	860,540
Available-for-sale securities		129,243	239,334
Derivative assets		90,717	35,701
Pledged collateral		33,191	32,945
FHLBC stock		43,393	43,393
Guarantee asset		905	1,686
Liabilities
Contingent consideration		14,819	28,484
Derivative liabilities		114,614	163,424
ABS issued		$ 6,461,864	$ 10,515,475
[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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