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Commitments and Contingencies - Additional Information (Details)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2021
USD ($)
lease
Jun. 30, 2020
USD ($)
Jun. 30, 2021
USD ($)
lease
repurchase_request
loan
Jun. 30, 2020
USD ($)
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   7          
Present value of remaining lease payments $ 19,325   $ 19,325          
Operating lease expense     2,000 $ 2,000        
Increase in operating lease liability 1,000              
Increase in operating lease, right of use asset 1,000              
Operating lease liabilities $ 15,997   $ 15,997     $ 16,687    
Operating lease liability, statement of financial position [Extensible List] us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent   us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent          
Operating lease right-of-use assets $ 14,370   $ 14,370     15,012    
Operating lease right-of-use asset, statement of financial position [Extensible List] Other assets   Other assets          
Weighted average remaining lease term 7 years   7 years          
Discount rate 4.90%   4.90%          
Derivative liabilities [1] $ 3,240   $ 3,240     16,072    
Number of partnerships, committed to fund | partnership         2      
Other income related to risk sharing agreement 861 $ 1,181 1,743 $ 1,946        
Guarantee obligations 8,446   8,446     10,039    
Guarantee obligations, credit reserve 5,000   5,000          
Special purpose entities assets 34,000   34,000     46,000    
Special purpose entities liabilities 8,000   8,000     10,000    
Residential repurchase reserve 8,709   $ 8,709     8,631    
Number of residential repurchase requests (in repurchase requests) | repurchase_request     1 5        
Number of loans repurchased | loan     1 0        
Residential loans repurchase provision (reversal)     $ 300 $ (4,000)        
Aggregate amount of loss contingency reserves 2,000   2,000          
Residential Loan Seller Demands                
Loss Contingencies [Line Items]                
Aggregate amount of accrual 2,000   2,000          
Residential Loans                
Loss Contingencies [Line Items]                
Loan principal 1,135,356   1,135,356     172,748    
Fair value of loans 1,160,548   1,160,548     176,641    
Financing Receivables, Equal to Greater than 90 Days Past Due | Residential Loans                
Loss Contingencies [Line Items]                
Fair value of loans 2,100   2,100     $ 1,882    
Other income                
Loss Contingencies [Line Items]                
Other income related to risk sharing agreement 1,000 1,000 2,000 2,000        
Mortgage banking and investment activities                
Loss Contingencies [Line Items]                
Market valuation losses related to these investments   (200)   (1,000)        
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   44,000          
Loan principal $ 702,000   $ 702,000          
Weighted average original FICO score 756   756          
Weighted average original loan-to-value (LTV) 75.00%   75.00%          
Guarantee Obligations | Residential Loans                
Loss Contingencies [Line Items]                
Unpaid principal balance of loans in foreclosure $ 200   $ 200          
Guarantee Obligations | Financing Receivables, Equal to Greater than 90 Days Past Due                
Loss Contingencies [Line Items]                
Fair value of loans 29,000   29,000          
Commitment To Fund Residential Bridge Loan                
Loss Contingencies [Line Items]                
Commitments to fund temporary advances 374,000   374,000          
Derivative liabilities (300)   (300)          
Commitment To Fund Temporary Advances On Residential Bridge Loans                
Loss Contingencies [Line Items]                
Commitments to fund temporary advances 300   300          
Net market valuation gains (losses) $ 1,000 $ 2,000 $ 2,000 $ (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 June 30, 2021 and December 31, 2020, assets of consolidated VIEs totaled $8,616,435 and $8,141,069, respectively. At June 30, 2021 and December 31, 2020, liabilities of consolidated VIEs totaled $7,562,367 and $7,148,414, respectively. See Note 4 for further discussion.