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Commitments and Contingencies - Additional Information (Details) |  | 1 Months Ended | 3 Months Ended | 9 Months Ended |  |  |  |  |
--- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Sep. 30, 2020 USD ($) lease | May 31, 2020 USD ($) | Sep. 30, 2020 USD ($) lease | Mar. 31, 2020 USD ($) | Sep. 30, 2019 USD ($) | Dec. 31, 2018 partnership | Sep. 30, 2020 USD ($) lease repurchase_request loan | Sep. 30, 2019 USD ($) repurchase_request loan | Dec. 31, 2019 USD ($) | Mar. 01, 2019 USD ($) | May 31, 2018 USD ($) | Dec. 31, 2016 USD ($) | Dec. 31, 2015 USD ($)
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Lessee, number of leases | lease |  | 7 |  | 7 |  |  |  | 7 |  |  |  |  |  |
Present value of remaining lease payments |  | $ 18,175,000 |  | $ 18,175,000 |  |  |  | $ 18,175,000 |  |  |  |  |  |
Operating lease expense |  |  |  |  |  |  |  | $ 3,000,000 | $ 2,000,000 |  |  |  |  |
Number of new office leases | lease |  |  |  |  |  |  |  | 3 |  |  |  |  |  |
Lease liability |  | $ 15,123,000 |  | $ 15,123,000 |  |  |  | $ 15,123,000 |  | $ 13,443,000 |  |  |  |
Operating lease liability, statement of financial position [Extensible List] |  | us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent |  | us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent |  |  |  | us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent |  |  |  |  |  |
Right-of-use asset |  | $ 13,487,000 |  | $ 13,487,000 |  |  |  | $ 13,487,000 |  | 11,866,000 |  |  |  |
Operating lease right-of-use asset, statement of financial position [Extensible List] |  | us-gaap:OtherAssets |  | us-gaap:OtherAssets |  |  |  | us-gaap:OtherAssets |  |  |  |  |  |
Weighted average remaining lease term |  | 7 years |  | 7 years |  |  |  | 7 years |  |  |  |  |  |
Discount rate |  | 5.00% |  | 5.00% |  |  |  | 5.00% |  |  |  |  |  |
Derivative liabilities | [1] | $ 1,612,000 |  | $ 1,612,000 |  |  |  | $ 1,612,000 |  | 163,424,000 |  |  |  |
Number of partnerships, committed to fund | partnership |  |  |  |  |  |  | 2 |  |  |  |  |  |  |
Contingent consideration |  | 0 |  | 0 |  |  |  | 0 |  | 28,484,000 |  |  |  |
Other income related to risk sharing agreement |  |  |  | 1,200,000 |  | $ 905,000 |  | 3,146,000 | $ 2,351,000 |  |  |  |  |
Guarantee obligations |  | 11,264,000 |  | 11,264,000 |  |  |  | 11,264,000 |  | 14,009,000 |  |  |  |
Guarantee obligations, credit reserve |  | 5,000,000 |  | 5,000,000 |  |  |  | 5,000,000 |  |  |  |  |  |
Special purpose entities assets |  | 47,000,000 |  | 47,000,000 |  |  |  | 47,000,000 |  | 48,000,000 |  |  |  |
Special purpose entities liabilities |  | 11,000,000 |  | 11,000,000 |  |  |  | 11,000,000 |  | 14,000,000 |  |  |  |
Residential repurchase reserve |  | 8,565,000 |  | 8,565,000 |  |  |  | $ 8,565,000 |  | 4,268,000 |  |  |  |
Number of residential repurchase requests (in repurchase requests) | repurchase_request |  |  |  |  |  |  |  | 8 | 10 |  |  |  |  |
Number of loans repurchased | loan |  |  |  |  |  |  |  | 0 | 0 |  |  |  |  |
Residential loans repurchase provision (reversal) |  |  |  |  |  |  |  | $ 4,000,000 | $ (200,000) |  |  |  |  |
Aggregate amount of loss contingency reserves |  | 2,000,000 |  | 2,000,000 |  |  |  | 2,000,000 |  |  |  |  |  |
Damages sought |  |  | $ 2,000,000 |  |  |  |  |  |  |  |  |  |  |
Residential Loan Seller Demands |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Expenses from litigation recorded |  |  |  | 4,000,000 |  |  |  | 9,000,000 |  |  |  |  |  |
Aggregate amount of accrual |  | 6,500,000 |  | 6,500,000 |  |  |  | 6,500,000 |  |  |  |  |  |
Minimum | Residential Loan Seller Demands |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reasonably possible losses estimated |  | 0 |  | 0 |  |  |  | 0 |  |  |  |  |  |
Maximum | Residential Loan Seller Demands |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reasonably possible losses estimated |  | 1,500,000 |  | 1,500,000 |  |  |  | 1,500,000 |  |  |  |  |  |
Residential Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loan principal |  | 102,921,000 |  | 102,921,000 |  |  |  | 102,921,000 |  | 524,928,000 |  |  |  |
Financing Receivables, Equal to Greater than 90 Days Past Due | Residential Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance of loans 90 days or more delinquent |  | 2,356,000 |  | 2,356,000 |  |  |  | 2,356,000 |  | $ 747,000 |  |  |  |
Other income |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other income related to risk sharing agreement |  |  |  | 1,000,000 |  | 1,000,000 |  | 3,000,000 | 2,000,000 |  |  |  |  |
Mortgage banking and investment activities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Market valuation losses related to these investments |  |  |  | (300,000) |  | $ (100,000) |  | (900,000) | $ (200,000) |  |  |  |  |
Guarantee Obligations |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Original unpaid balance of loans subject to risk sharing agreements |  |  |  |  |  |  |  |  |  |  |  |  | $ 3,190,000,000 | $ 3,190,000,000
Potential future payments on loans |  | 44,000,000 |  | 44,000,000 |  |  |  | 44,000,000 |  |  |  |  |  |
Loan principal |  | $ 1,120,000,000 |  | $ 1,120,000,000 |  |  |  | $ 1,120,000,000 |  |  |  |  |  |
Weighted average original FICO score |  | 758 |  | 758 |  |  |  | 758 |  |  |  |  |  |
Weighted average original loan-to-value (LTV) |  | 75.00% |  | 75.00% |  |  |  | 75.00% |  |  |  |  |  |
Guarantee Obligations | Residential Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value of loans, in foreclosure |  | $ 0 |  | $ 0 |  |  |  | $ 0 |  |  |  |  |  |
Guarantee Obligations | Financing Receivables, Equal to Greater than 90 Days Past Due |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance of loans 90 days or more delinquent |  | 42,000,000 |  | 42,000,000 |  |  |  | 42,000,000 |  |  |  |  |  |
Commitment To Fund Residential Bridge Loan |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commitments to fund temporary advances |  | 225,000,000 |  | 225,000,000 |  |  |  | 225,000,000 |  |  |  |  |  |
Derivative liabilities |  | 1,000,000 |  | 1,000,000 |  |  |  | 1,000,000 |  |  |  |  |  |
Commitment To Fund Temporary Advances On Residential Bridge Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commitments to fund temporary advances |  | 15,000,000 |  | 15,000,000 |  |  |  | 15,000,000 |  |  |  |  |  |
5 Arches |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration maximum amount |  |  |  |  |  |  |  |  |  |  |  | $ 29,000,000 |  |
Cash payment for contingent consideration liability |  |  |  |  | $ 11,000,000 |  |  |  |  |  |  |  |  |
Restricted stock awards |  |  |  |  | $ 3,000,000 |  |  |  |  |  |  |  |  |
Contingent consideration |  | 14,000,000 |  | 14,000,000 |  |  |  | 14,000,000 |  |  | $ 25,000,000 |  |  |
Shared home appreciation options |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payments to acquire investments |  | 47,000,000 |  |  |  |  |  |  |  |  |  |  |  |
Shared home appreciation options | Commitment To Fund Investment |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commitments to fund temporary advances |  | $ 3,000,000 |  | $ 3,000,000 |  |  |  | $ 3,000,000 |  |  |  |  |  |
[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 September 30, 2020 and December 31, 2019, assets of consolidated VIEs totaled $8,197,095 and $11,931,869, respectively. At September 30, 2020 and December 31, 2019, liabilities of consolidated VIEs totaled $7,238,047 and $10,717,072, respectively. See Note 4 for further discussion.

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