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Summary of Significant Accounting Policies - Offsetting of Financial Assets, Liabilities, and Collateral (Details) - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Assets    
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet [1] $ 37,686 $ 20,830
Liabilities    
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet [1] (8,781) (16,855)
Total Liabilities    
Gross Amounts of Recognized Assets (Liabilities) (331,574) (241,536)
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet (331,574) (241,536)
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments 327,248 226,625
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged 4,326 4,518
Net Amount 0 (10,393)
Interest rate agreements    
Assets    
Gross Amounts of Recognized Assets (Liabilities) 13,819 14,625
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet 13,819 14,625
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments 0 0
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged (9,428) (5,944)
Net Amount 4,391 8,681
TBAs    
Assets    
Gross Amounts of Recognized Assets (Liabilities) 16,613 1,893
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet 16,613 1,893
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments (1,169) (1,873)
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged (14,032) 0
Net Amount 1,412 20
Liabilities    
Gross Amounts of Recognized Assets (Liabilities) (5,495) (16,784)
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet (5,495) (16,784)
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments 1,169 1,873
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged 4,326 4,518
Net Amount 0 (10,393)
Futures    
Assets    
Gross Amounts of Recognized Assets (Liabilities) 2,187 3,976
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet 2,187 3,976
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments (199) (57)
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged (146) 0
Net Amount 1,842 3,919
Liabilities    
Gross Amounts of Recognized Assets (Liabilities) (199) (57)
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet (199) (57)
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments 199 57
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged 0 0
Net Amount 0 0
Interest Rate Agreement, TBAs, and Futures    
Assets    
Gross Amounts of Recognized Assets (Liabilities) 32,619 20,494
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet 32,619 20,494
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments (1,368) (1,930)
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral (Received) Pledged (23,606) (5,944)
Net Amount 7,645 12,620
Loan warehouse debt    
Loan warehouse debt and Security repurchase agreement    
Gross Amounts of Recognized Assets (Liabilities) (325,880) (224,695)
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet (325,880) (224,695)
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments 325,880 224,695
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 September 30, 2023 and December 31, 2022, assets of consolidated VIEs totaled $9,639,117 and $9,257,291, respectively. At September 30, 2023 and December 31, 2022, liabilities of consolidated VIEs totaled $8,635,696 and $8,270,276, respectively. See Note 4 for further discussion.