XML 109 R97.htm IDEA: XBRL DOCUMENT
v3.21.2

Other Investments - Additional Information (Details) $ in Thousands | 3 Months Ended | 9 Months Ended |
--- | --- | --- | ---
Sep. 30, 2021 USD ($) | Sep. 30, 2020 USD ($) | Sep. 30, 2021 USD ($) partnership | Sep. 30, 2020 USD ($) | Dec. 31, 2020 USD ($)
Net Investment Income [Line Items] |  |  |  |  |
Number of partnerships consolidated | partnership |  |  | 2 |  |
Commitment to fund partnership |  |  | $ 94,000 |  |
Servicing asset, fair value | $ 159,408 |  | 159,408 |  | $ 217,656
Collateral amounts | 1,175,479 |  | 1,175,479 |  | 1,084,929
Investment fair value changes, net | 26,077 | $ 107,047 | 120,644 | $ (611,557) |
Interest income | 145,722 | 121,982 | $ 412,722 | 450,009 |
Variable Interest Entity, Primary Beneficiary |  |  |  |  |
Net Investment Income [Line Items] |  |  |  |  |
Number of partnerships consolidated | partnership |  |  | 2 |  |
Investment fair value changes, net | 18,380 | 101,420 | $ 78,323 | (189,448) |
Interest income | 96,090 | 89,912 | 289,878 | 303,264 |
Variable Interest Entity, Primary Beneficiary | Point HEI |  |  |  |  |
Net Investment Income [Line Items] |  |  |  |  |
Investment fair value changes, net | 47 | 0 | 47 | 0 |
Interest income | 0 | 0 | 0 | 0 |
Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities |  |  |  |  |
Net Investment Income [Line Items] |  |  |  |  |
Fair value of our investments | 1,080,553 |  | 1,080,553 |  | 992,655
Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities | Point HEI |  |  |  |  |
Net Investment Income [Line Items] |  |  |  |  |
Fair value of our investments | 10,348 |  | 10,348 |  | 0
Servicer advance financing |  |  |  |  |
Net Investment Income [Line Items] |  |  |  |  |
Collateral amounts | 159,000 |  | 159,000 |  |
Equity investment income | 2,000 |  | 7,000 |  |
Investment fair value changes, net | (2,000) |  | (3,000) | (6,000) |
Servicer advance financing | Maximum |  |  |  |  |
Net Investment Income [Line Items] |  |  |  |  |
Investment fair value changes, net |  | 100 |  |  |
Servicer advance financing | Other Interest Income |  |  |  |  |
Net Investment Income [Line Items] |  |  |  |  |
Investment fair value changes, net |  | 3,000 |  | 8,000 |
Held-for-sale residential loans |  |  |  |  |
Net Investment Income [Line Items] |  |  |  |  |
Servicing asset, fair value | 170,062 |  | 170,062 |  | 231,489
Servicing asset, unpaid principal balance on underlying loan | 7,530,000 |  | 7,530,000 |  |
Excess MSRs |  |  |  |  |
Net Investment Income [Line Items] |  |  |  |  |
Servicing asset, fair value | 29,185 |  | 29,185 |  | 34,418
Investment fair value changes, net | (1,000) | (1,000) | (5,000) | (8,000) |
Fair value option elected aggregate carrying amount, asset | 5,000 |  | 9,000 |  |
Interest income | 3,000 | 3,000 | 9,000 | 9,000 |
Shared home appreciation options |  |  |  |  |
Net Investment Income [Line Items] |  |  |  |  |
Fair value option elected aggregate carrying amount, asset | 122,000 |  |  |  |
Other investments held by noncontrolling interests | 17,000 |  | 17,000 |  |
MSRs |  |  |  |  |
Net Investment Income [Line Items] |  |  |  |  |
Servicing asset, fair value | 12,389 |  | 12,389 |  | 8,815
Aggregate principal balance | 2,290,000 |  | 2,290,000 |  | $ 2,590,000
MSR income (losses), net | 300 | (2,000) | 1,000 | (6,000) |
Shared home appreciation options |  |  |  |  |
Net Investment Income [Line Items] |  |  |  |  |
Payments to acquire investments | 47,000 |  |  |  |
Transfer to investments | 170,000 |  |  |  |
Shared home appreciation options | Commitment To Fund Investment |  |  |  |  |
Net Investment Income [Line Items] |  |  |  |  |
Investment fair value changes, net | 6,000 | $ 2,000 | $ 13,000 | $ (4,000) |
HEIs |  |  |  |  |
Net Investment Income [Line Items] |  |  |  |  |
Investment fair value changes, net | $ 100 |  |  |  |

X
- Definition Commitment To Fund Partnership + References No definition available. + Details
Name: | rwt_CommitmentToFundPartnership
Namespace Prefix: | rwt_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Fair Value, Option, Assets, Aggregate Carrying Amount During Period + References No definition available. + Details
Name: | rwt_FairValueOptionAssetsAggregateCarryingAmountDuringPeriod
Namespace Prefix: | rwt_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Includes income from mortgage banking servicing real estate mortgages, net of subservicing costs, and market valuation changes of MSRs held at fair value. + References No definition available. + Details
Name: | rwt_MortgageServicingRightsIncomeIncludingMarketValuationChangesOfMSRs
Namespace Prefix: | rwt_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Number Of Partnerships Consolidated + References No definition available. + Details
Name: | rwt_NumberOfPartnershipsConsolidated
Namespace Prefix: | rwt_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition Other Investments, Held by Noncontrolling Interests + References No definition available. + Details
Name: | rwt_OtherInvestmentsHeldByNoncontrollingInterests
Namespace Prefix: | rwt_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Servicing Asset At Fair Value, Unpaid Principal Balance On Underlying Loans + References No definition available. + Details
Name: | rwt_ServicingAssetAtFairValueUnpaidPrincipalBalanceOnUnderlyingLoans
Namespace Prefix: | rwt_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount of net assets (liabilities). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=77885760&loc=SL35686385-199418 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 205 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=118262037&loc=d3e9915-115836 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 220 -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(7)) -URI http://asc.fasb.org/extlink&oid=120401555&loc=SL114874367-224272 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 210 -Section S99 -Paragraph 2 -Subparagraph (SX 210.6-05(4)) -URI http://asc.fasb.org/extlink&oid=120401414&loc=d3e604008-122996 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 220 -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(6)) -URI http://asc.fasb.org/extlink&oid=120401555&loc=SL114874367-224272 + Details
Name: | us-gaap_AssetsNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount of assets pledged to secure a debt instrument. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823 + Details
Name: | us-gaap_DebtInstrumentCollateralAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(12)) -URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(10)) -URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3602-108585 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(13)(f)) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109237563&loc=d3e33749-111570 + Details
Name: | us-gaap_IncomeLossFromEquityMethodInvestments
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.1-5) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 + Details
Name: | us-gaap_InterestAndDividendIncomeOperating
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The cash outflow associated with the purchase of all investments (debt, security, other) during the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3213-108585 + Details
Name: | us-gaap_PaymentsToAcquireInvestments
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_ScheduleOfInvestmentIncomeReportedAmountsByCategoryLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Aggregate amount of servicing assets that are subsequently measured at fair value and servicing assets that are subsequently measured using the amortization method. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 45 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6469459&loc=d3e122501-111745 + Details
Name: | us-gaap_ServicingAsset
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Fair value of an asset representing net future revenue from contractually specified servicing fees, late charges, and other ancillary revenues, in excess of future costs related to servicing arrangements. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 45 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6469459&loc=d3e122501-111745 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6469459&loc=d3e122492-111745 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 3 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=125521744&loc=d3e122625-111746 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 45 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6469459&loc=d3e122501-111745 + Details
Name: | us-gaap_ServicingAssetAtFairValueAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Value of investments transferred to the entity's investments in noncash transactions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123431023&loc=d3e4313-108586 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123431023&loc=d3e4332-108586 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123431023&loc=d3e4304-108586 + Details
Name: | us-gaap_TransferToInvestments
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of unrealized gain (loss) on investment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3602-108585 + Details
Name: | us-gaap_UnrealizedGainLossOnInvestments
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Details
Name: | srt_ConsolidatedEntitiesAxis=us-gaap_VariableInterestEntityPrimaryBeneficiaryMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=rwt_PointMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CollateralAxis=rwt_CollateralizedFinancingEntitiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=rwt_ServicerAdvanceFinancingMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_IncomeStatementLocationAxis=rwt_OtherInterestIncomeMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_ResidentialMortgageMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=rwt_ExcessMortgageServicingRightsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=rwt_PointOptionMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_InvestmentTypeAxis=rwt_MortgageServicingRightsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_InvestmentTypeAxis=rwt_PointOptionMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_OtherCommitmentsAxis=rwt_CommitmentToFundInvestmentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_InvestmentTypeAxis=rwt_SecuritizedPointOptionsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |