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Principles of Consolidation - Assets and Liabilities of Consolidated Variable Interest Entities Accounted for as Collateralized Financing Entities (Details)
$ in Thousands
Jun. 30, 2022
USD ($)
investment
Dec. 31, 2021
USD ($)
investment
Variable Interest Entity [Line Items]    
Other investments [1] $ 679,667 $ 641,969
Cash and cash equivalents [1] 371,296 450,485
Restricted cash [1] 72,558 80,999
Accrued interest receivable 51,006 47,515
Other assets [1] 171,780 231,117
Total Assets [1] 13,875,536 14,706,944
Short-term debt [1] 1,869,822 2,177,362
Accrued interest payable 42,548 39,297
Accrued expenses and other liabilities [1] 190,825 245,788
Asset-backed securities issued [1] 8,584,146 9,253,557
Total liabilities [1] 12,617,445 13,320,857
CAFL    
Variable Interest Entity [Line Items]    
Fair value of securities owned 307,000 302,000
Freddie Mac SLST    
Variable Interest Entity [Line Items]    
Fair value of securities owned 390,000 445,000
Variable Interest Entity, Primary Beneficiary    
Variable Interest Entity [Line Items]    
Total Assets 9,951,520 10,661,081
Total liabilities 8,899,020 9,619,347
Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Other investments 451,594 544,307
Cash and cash equivalents 14,399 6,481
Restricted cash 39,197 46,086
Accrued interest receivable 33,572 35,401
Other assets 15,684 41,826
Total Assets 9,951,520 10,661,081
Short-term debt 231,846 294,447
Accrued interest payable 25,134 25,018
Accrued expenses and other liabilities 57,894 46,325
Asset-backed securities issued 8,584,146 9,253,557
Total liabilities 8,899,020 9,619,347
Value of our investments in VIEs $ 1,045,376 $ 1,033,913
Number of VIEs | investment 63 60
Residential loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans $ 5,365,532 $ 5,747,150
Business purpose loans, held-for-investment    
Variable Interest Entity [Line Items]    
Fair value of loans [1] 4,697,766 4,432,680
Business purpose loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans 3,588,428 3,766,316
Consolidated Agency multifamily loans | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans 443,114 473,514
Legacy Sequoia | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Other investments 0 0
Cash and cash equivalents 0 0
Restricted cash 143 148
Accrued interest receivable 215 210
Other assets 410 61
Total Assets 209,556 230,874
Short-term debt 0 0
Accrued interest payable 171 99
Accrued expenses and other liabilities 0 0
Asset-backed securities issued 207,647 227,881
Total liabilities 207,818 227,980
Value of our investments in VIEs $ 1,552 $ 2,634
Number of VIEs | investment 20 20
Legacy Sequoia | Residential loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans $ 208,788 $ 230,455
Legacy Sequoia | Business purpose loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans 0 0
Legacy Sequoia | Consolidated Agency multifamily loans | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans 0 0
Sequoia | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Other investments 0 0
Cash and cash equivalents 0 0
Restricted cash 10 5
Accrued interest receivable 11,317 10,885
Other assets 0 0
Total Assets 3,536,786 3,639,355
Short-term debt 0 0
Accrued interest payable 9,232 8,452
Accrued expenses and other liabilities 10 5
Asset-backed securities issued 3,288,682 3,383,048
Total liabilities 3,297,924 3,391,505
Value of our investments in VIEs $ 236,777 $ 245,417
Number of VIEs | investment 17 16
Sequoia | Residential loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans $ 3,525,459 $ 3,628,465
Sequoia | Business purpose loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans 0 0
Sequoia | Consolidated Agency multifamily loans | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans 0 0
CAFL | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Other investments 0 0
Cash and cash equivalents 0 0
Restricted cash 8,688 15,221
Accrued interest receivable 14,955 15,737
Other assets 5,320 32,510
Total Assets 3,617,391 3,829,784
Short-term debt 0 0
Accrued interest payable 10,610 11,030
Accrued expenses and other liabilities 6,996 1,171
Asset-backed securities issued 3,207,867 3,474,898
Total liabilities 3,225,473 3,487,099
Value of our investments in VIEs $ 388,849 $ 339,419
Number of VIEs | investment 18 16
CAFL | Residential loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans $ 0 $ 0
CAFL | Business purpose loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans 3,588,428 3,766,316
CAFL | Consolidated Agency multifamily loans | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans 0 0
Freddie Mac SLST | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Other investments 0 0
Cash and cash equivalents 0 0
Restricted cash 0 0
Accrued interest receivable 5,378 5,792
Other assets 2,299 2,028
Total Assets 1,638,962 1,896,050
Short-term debt 0 0
Accrued interest payable 3,720 4,055
Accrued expenses and other liabilities 0 0
Asset-backed securities issued 1,358,459 1,588,463
Total liabilities 1,362,179 1,592,518
Value of our investments in VIEs $ 275,127 $ 301,795
Number of VIEs | investment 3 3
Freddie Mac SLST | Residential loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans $ 1,631,285 $ 1,888,230
Freddie Mac SLST | Business purpose loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans 0 0
Freddie Mac SLST | Consolidated Agency multifamily loans | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans 0 0
Freddie Mac K-Series | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Other investments 0 0
Cash and cash equivalents 0 0
Restricted cash 0 0
Accrued interest receivable 1,304 1,315
Other assets 0 0
Total Assets 444,418 474,829
Short-term debt 0 0
Accrued interest payable 1,178 1,190
Accrued expenses and other liabilities 0 0
Asset-backed securities issued 411,380 441,857
Total liabilities 412,558 443,047
Value of our investments in VIEs $ 31,732 $ 31,657
Number of VIEs | investment 1 1
Freddie Mac K-Series | Residential loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans $ 0 $ 0
Freddie Mac K-Series | Business purpose loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans 0 0
Freddie Mac K-Series | Consolidated Agency multifamily loans | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans 443,114 473,514
Servicing Investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Other investments 305,379 384,754
Cash and cash equivalents 14,399 6,481
Restricted cash 26,236 25,420
Accrued interest receivable 403 1,462
Other assets 7,605 7,177
Total Assets 354,022 425,294
Short-term debt 231,846 294,447
Accrued interest payable 223 192
Accrued expenses and other liabilities 25,466 28,115
Asset-backed securities issued 0 0
Total liabilities 257,535 322,754
Value of our investments in VIEs $ 96,487 $ 102,540
Number of VIEs | investment 3 3
Servicing Investment | Residential loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans $ 0 $ 0
Servicing Investment | Business purpose loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans 0 0
Servicing Investment | Consolidated Agency multifamily loans | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans 0 0
HEI | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Other investments 146,215 159,553
Cash and cash equivalents 0 0
Restricted cash 4,120 5,292
Accrued interest receivable 0 0
Other assets 50 50
Total Assets 150,385 164,895
Short-term debt 0 0
Accrued interest payable 0 0
Accrued expenses and other liabilities 25,422 17,034
Asset-backed securities issued 110,111 137,410
Total liabilities 135,533 154,444
Value of our investments in VIEs $ 14,852 $ 10,451
Number of VIEs | investment 1 1
Fair value of securities owned $ 15,000  
HEI | Residential loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans 0 $ 0
HEI | Business purpose loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans 0 0
HEI | Consolidated Agency multifamily loans | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities    
Variable Interest Entity [Line Items]    
Fair value of loans $ 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 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.