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Summary of Significant Accounting Policies - Offsetting of Financial Assets, Liabilities, and Collateral (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Assets    
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet [1] $ 112,060 $ 26,467
Liabilities    
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet [1] (80,260) (3,317)
Total Liabilities    
Gross Amounts of Recognized Assets (Liabilities) (491,824) (575,534)
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet (491,824) (575,534)
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments 479,934 574,629
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged 9,628 895
Net Amount (2,262) (10)
Interest rate agreements    
Assets    
Gross Amounts of Recognized Assets (Liabilities) 11,412 18,929
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet 11,412 18,929
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments (650) (1,251)
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged 0 (16,046)
Net Amount 10,762 1,632
Liabilities    
Gross Amounts of Recognized Assets (Liabilities) (650) (1,251)
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet (650) (1,251)
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments 650 1,251
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged 0 0
Net Amount 0 0
TBAs    
Assets    
Gross Amounts of Recognized Assets (Liabilities) 95,631 2,880
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet 95,631 2,880
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments (52,993) (633)
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged (41,706) (704)
Net Amount 932 1,543
Liabilities    
Gross Amounts of Recognized Assets (Liabilities) (64,883) (658)
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet (64,883) (658)
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments 52,993 633
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged 9,628 15
Net Amount (2,262) (10)
Futures    
Assets    
Gross Amounts of Recognized Assets (Liabilities) 2,907 25
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet 2,907 25
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments (236) (25)
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged (151) 0
Net Amount 2,520 0
Liabilities    
Gross Amounts of Recognized Assets (Liabilities) (236) (905)
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet (236) (905)
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments 236 25
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged 0 880
Net Amount 0 0
Interest Rate Agreement, TBAs, and Futures    
Assets    
Gross Amounts of Recognized Assets (Liabilities) 109,950 21,834
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet 109,950 21,834
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments (53,879) (1,909)
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged (41,857) (16,750)
Net Amount 14,214 3,175
Loan warehouse debt    
Loan warehouse debt and Security repurchase agreement    
Gross Amounts of Recognized Assets (Liabilities) (426,055) (572,720)
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet (426,055) (572,720)
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments 426,055 572,720
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged 0 0
Net Amount $ 0 $ 0
[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, 2022 and December 31, 2021, assets of consolidated VIEs totaled $10,250,802 and $10,661,081, respectively. At March 31, 2022 and December 31, 2021, liabilities of consolidated VIEs totaled $9,202,156 and $9,619,347, respectively. See Note 4 for further discussion.