XML 123 R113.htm IDEA: XBRL DOCUMENT
v3.22.2

Asset-Backed Securities Issued - Additional Information (Details) - USD ($) $ in Thousands | 6 Months Ended |  |  |  |  |
--- | --- | --- | --- | --- | --- | ---
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2052 | Mar. 31, 2029 | Jul. 31, 2023 | Dec. 31, 2021 | Sep. 30, 2021
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Other assets | [1] | $ 171,780 |  |  |  |  | $ 231,117 |
VIE, ownership interest rate (as a percent) |  | 80.00% |  |  |  |  |  |
Variable Interest Entity, Primary Beneficiary | Point HEI |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
ABS issued, net, At amortized cost |  | $ 146,000 |  |  |  |  |  |
Variable Interest Entity, Primary Beneficiary | CoreVest |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
ABS issued, net, At amortized cost |  | 215,000 |  |  |  |  |  |
Variable Interest Entity, Primary Beneficiary | Freddie Mac SLST |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
ABS issued, net, At amortized cost |  |  | $ 210,000 |  |  |  |  |
2022 Asset Backed Securities Sold | CoreVest |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Debt instrument, face amount |  | 215,000 |  |  |  |  |  |
Bridge loan |  | 249,000 |  |  |  |  |  |
Restricted cash |  | 1,000 |  |  |  |  |  |
2022 Asset Backed Securities Sold | Variable Interest Entity, Primary Beneficiary | CoreVest |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Debt instrument, face amount |  | 207,000 |  |  |  |  |  |
Unamortized debt discount |  | 8,000 |  |  |  |  |  |
2021 Asset Backed Securities Sold | CoreVest |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Debt instrument, face amount |  | 270,000 |  |  |  |  |  |
Bridge loan |  | 293,000 |  |  |  |  |  |
Restricted cash |  | 8,000 |  |  |  |  |  |
Other assets |  | 7,000 |  |  |  |  |  |
Total funding capacity |  | 300,000 |  |  |  |  |  |
2021 Asset Backed Securities Sold | Variable Interest Entity, Primary Beneficiary | Forecast |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Debt Instrument interest rate |  |  |  |  | 2.00% |  |  |
2021 Asset Backed Securities Sold | Variable Interest Entity, Primary Beneficiary | CoreVest |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
ABS issued, net, At amortized cost |  |  |  |  |  |  |  | $ 270,000
Debt instrument, face amount |  | 268,000 |  |  |  |  |  |
Unamortized debt discount |  | $ 2,000 |  |  |  |  |  |
Debt Instrument interest rate |  | 2.34% |  |  |  |  |  |
Asset-backed securities issued | CoreVest |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Debt instrument, face amount |  | $ 485,000 |  |  |  |  | 270,000 |
Total funding capacity |  | 250,000 |  |  |  |  |  |
Asset-backed securities issued | Freddie Mac SLST |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Debt instrument, face amount |  | 117,000 |  |  |  |  | $ 145,000 |
Asset-backed securities issued | Variable Interest Entity, Primary Beneficiary |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Debt instrument, face amount |  | 115,000 |  |  |  |  |  |
Unamortized debt discount |  | $ 1,000 |  |  |  |  |  |
Debt Instrument interest rate |  | 4.75% |  |  |  |  |  |
VIE, ownership interest rate (as a percent) |  |  | 100.00% |  |  |  |  |
Asset-backed securities issued | Variable Interest Entity, Primary Beneficiary | Forecast |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Debt Instrument interest rate |  |  |  | 2.00% |  | 7.75% |  |
Asset-backed securities issued | Variable Interest Entity, Primary Beneficiary | CoreVest |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Debt Instrument interest rate |  | 4.32% |  |  |  |  |  |
Asset-backed securities issued | Contractual maturities of over five years |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Contractual maturities of securities (in years) |  | 5 years |  |  |  |  |  |
[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, 2022 and December 31, 2021, assets of consolidated VIEs totaled $9,951,520 and $10,661,081, respectively. At June 30, 2022 and December 31, 2021, liabilities of consolidated VIEs totaled $8,899,020 and $9,619,347, respectively. See Note 4 for further discussion.

X
- Definition Debt Instrument, Asset Backed Securities Issued, Amortized Cost + References No definition available. + Details
Name: | rwt_DebtInstrumentAssetBackedSecuritiesIssuedAmortizedCost
Namespace Prefix: | rwt_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Long Term Marketable Securities Maturities Term + References No definition available. + Details
Name: | rwt_LongTermMarketableSecuritiesMaturitiesTerm
Namespace Prefix: | rwt_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Securitization of Asset Backed Securities, Borrowing Capacity + References No definition available. + Details
Name: | rwt_SecuritizationOfAssetBackedSecuritiesBorrowingCapacity
Namespace Prefix: | rwt_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Short-Term financing which is expected to be paid back relatively quickly, such as by a subsequent longer-term loan. Also called swing loan or bridge financing. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(13)) -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)(a)(1)) -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(a)(1)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_BridgeLoan
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Face (par) amount of debt instrument at time of issuance. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=124429444&loc=SL124452920-239629 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69C -URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495737-112612 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69B -URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612 + Details
Name: | us-gaap_DebtInstrumentFaceAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Contractual interest rate for funds borrowed, under the debt agreement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateStatedPercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

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_DebtInstrumentLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount, after accumulated amortization, of debt discount. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1D -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495340-112611 + Details
Name: | us-gaap_DebtInstrumentUnamortizedDiscount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount of assets classified as other. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(10)) -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(10)) -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(17)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_OtherAssets
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount of cash restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=126999549&loc=SL98516268-108586 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(1)(a)) -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(2)) -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910 + Details
Name: | us-gaap_RestrictedCash
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Percentage of the Variable Interest Entity's (VIE) voting interest owned by (or beneficial interest in) the reporting entity (directly or indirectly). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=123419778&loc=SL6759159-111685 + Details
Name: | us-gaap_VariableInterestEntityOwnershipPercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
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_FinancialInstrumentAxis=rwt_PointHEIMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

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

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

X
- Details
Name: | us-gaap_DebtInstrumentAxis=rwt_A2022AssetBackedSecuritiesSoldMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=rwt_A2021AssetBackedSecuritiesSoldMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_StatementScenarioAxis=srt_ScenarioForecastMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=us-gaap_AssetBackedSecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_InvestmentSecondaryCategorizationAxis=rwt_MaturityOverFiveYearsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |