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Commitments and Contingencies - Additional Information (Details)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2021
USD ($)
loan
lease
repurchase_request
Mar. 31, 2020
USD ($)
loan
repurchase_request
Dec. 31, 2018
partnership
Dec. 31, 2020
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Loss Contingencies [Line Items]            
Lessee, number of leases | lease 7          
Present value of remaining lease payments $ 18,954          
Operating lease expense 1,000 $ 1,000        
Operating lease liabilities $ 15,885     $ 16,687    
Operating lease liability, statement of financial position [Extensible List] us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent          
Operating lease right-of-use assets $ 14,227     15,012    
Operating lease right-of-use asset, statement of financial position [Extensible List] Other assets          
Weighted average remaining lease term 7 years          
Discount rate 4.90%          
Derivative liabilities [1] $ 73,178     16,072    
Number of partnerships, committed to fund | partnership     2      
Other income related to risk sharing agreement 882 $ 765        
Guarantee obligations 9,238     10,039    
Guarantee obligations, credit reserve 5,000          
Special purpose entities assets 46,000     46,000    
Special purpose entities liabilities 9,000     10,000    
Residential repurchase reserve $ 8,731     8,631    
Number of residential repurchase requests (in repurchase requests) | repurchase_request 0 3        
Number of loans repurchased | loan 0 0        
Residential loans repurchase provision (reversal) $ 100 $ (200)        
Aggregate amount of loss contingency reserves 2,000          
Residential Loan Seller Demands            
Loss Contingencies [Line Items]            
Aggregate amount of accrual 2,000          
Residential Loans            
Loss Contingencies [Line Items]            
Loan principal 990,841     172,748    
Financing Receivables, Equal to Greater than 90 Days Past Due | Residential Loans            
Loss Contingencies [Line Items]            
Unpaid principal balance of loans with 90+ day delinquencies 1,882     $ 1,882    
Other income            
Loss Contingencies [Line Items]            
Other income related to risk sharing agreement 1,000 1,000        
Mortgage banking and investment activities            
Loss Contingencies [Line Items]            
Market valuation losses related to these investments (100) $ (500)        
Guarantee Obligations            
Loss Contingencies [Line Items]            
Original unpaid balance of loans subject to risk sharing agreements         $ 3,190,000 $ 3,190,000
Potential future payments on loans 44,000          
Loan principal $ 806,000          
Weighted average original FICO score 757          
Weighted average original loan-to-value (LTV) 75.00%          
Guarantee Obligations | Residential Loans            
Loss Contingencies [Line Items]            
Unpaid principal balance of loans in foreclosure $ 200          
Guarantee Obligations | Financing Receivables, Equal to Greater than 90 Days Past Due            
Loss Contingencies [Line Items]            
Unpaid principal balance of loans with 90+ day delinquencies 33,000          
Commitment To Fund Residential Bridge Loan            
Loss Contingencies [Line Items]            
Commitments to fund temporary advances 283,000          
Derivative liabilities (2,000)          
Commitment To Fund Temporary Advances On Residential Bridge Loans            
Loss Contingencies [Line Items]            
Commitments to fund temporary advances $ 2,000          
[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, 2021 and December 31, 2020, assets of consolidated VIEs totaled $7,724,203 and $8,141,069, respectively. At March 31, 2021 and December 31, 2020, liabilities of consolidated VIEs totaled $6,704,943 and $7,148,414, respectively. See Note 4 for further discussion.