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Commitments and Contingencies - Additional Information (Details)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2021
USD ($)
lease
Sep. 30, 2020
USD ($)
Mar. 31, 2019
partnership
Sep. 30, 2021
USD ($)
loan
repurchase_request
lease
Sep. 30, 2020
USD ($)
loan
repurchase_request
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 $ 18,399     $ 18,399        
Operating lease expense       3,000 $ 3,000      
Increase in operating lease liability       1,000        
Increase in operating lease, right of use asset       1,000        
Operating lease liabilities $ 15,771     $ 15,771   $ 16,687    
Operating lease liability, statement of financial position [Extensible List] Accounts Payable and Accrued Liabilities     Accounts Payable and Accrued Liabilities        
Operating lease right-of-use assets $ 13,659     $ 13,659   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 (as a percent) 4.90%     4.90%        
Derivative liabilities [1] $ 10,972     $ 10,972   16,072    
Net market valuation gains (losses) (300) $ 1,000   1,000 (1,000)      
Number of partnerships, committed to fund | partnership     2          
Other income related to risk sharing agreement 575 1,200   2,318 $ 3,146      
Market valuation losses related to these investments       (100)        
Guarantee obligations 7,902     7,902   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 9,003     $ 9,003   8,631    
Number of residential repurchase requests (in repurchase requests) | repurchase_request       3 8      
Number of loans repurchased | loan       1 0      
Residential loans repurchase provision (reversal)       $ 600 $ (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        
Maximum                
Loss Contingencies [Line Items]                
Loss from arrangements       100        
Market valuation losses related to these investments 100              
Residential Loans                
Loss Contingencies [Line Items]                
Loan principal 1,464,767     1,464,767   172,748    
Fair value of loans 1,495,079     1,495,079   176,641    
Financing Receivables, Equal to Greater than 90 Days Past Due | Residential Loans                
Loss Contingencies [Line Items]                
Fair value of loans 3,159     3,159   $ 1,882    
Other income                
Loss Contingencies [Line Items]                
Other income related to risk sharing agreement 1,000 1,000   2,000 3,000      
Mortgage banking and investment activities                
Loss Contingencies [Line Items]                
Market valuation losses related to these investments   $ (300)     $ (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 $ 618,000     $ 618,000        
Weighted average original FICO score 756     756        
Weighted average original loan-to-value (LTV) 74.00%     74.00%        
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 21,000     21,000        
Commitment To Fund Residential Bridge Loan                
Loss Contingencies [Line Items]                
Commitments to fund temporary advances 426,000     426,000        
Derivative liabilities (1,000)     (1,000)        
Commitments To Fund Point Options                
Loss Contingencies [Line Items]                
Commitments to fund temporary advances $ 125,000     $ 125,000        
[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, 2021 and December 31, 2020, assets of consolidated VIEs totaled $9,358,317 and $8,141,069, respectively. At September 30, 2021 and December 31, 2020, liabilities of consolidated VIEs totaled $8,391,761 and $7,348,713, respectively. See Note 4 for further discussion.